Asiamet commences debt financing process for BKM copper project
Following the completion of the BKM Stage 1 optimised feasibility study and receipt of the final independent technical expert report, Asiamet has now officially opened its project data room to a targeted group of prospective project finance lenders. This marks the start of project finance due diligence and the formal start of the lender engagement process for BKM Stage 1.
It is distinct from the company's ongoing offtake discussions.
"The commencement of formal lender due diligence is a major milestone in the development of the BKM copper project,” said Darryn McClelland, Asiamet’s chief executive.
“With both the optimised feasibility study and independent technical expert review now complete, we are well positioned to engage meaningfully with our selected group of project finance lenders. This milestone reaffirms to our stakeholders, shareholders, and prospective financing partners that BKM is a real, development-ready project, and Asiamet is committed to progressing towards a final investment decision. Our offtake and strategic partner engagement processes remain separate, and we look forward to providing further updates on these areas as they continue to progress."
View from Vox
Asiamet has been in preliminary talks for some time, so it’s good to see the process become formalised. The company has a very powerful local backer prominent on its shareholder register, so there is already some depth to its financial firepower. But the debt financing will be the crucial test. Can BKM be made to work? We are about to find out.
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