StockMarketWire.com - Asiamet Resources said a feasibility study had estimated that its Beruang Kanan Main copper project in Indonesia would cost $192.0m to build.

The cost estimate excluded an additional $31.4m contingency.

The project's internal rate of return was pegged at 19.5%, excluding closure costs.

The company also announced that it had compiled a maiden ore reserve for the project.

Highlights included 21.1m tonnes at 0.6% copper for 137k contained tonnes of copper in the proved category.

They also included 30.4m tonnes at 0.5% copper, for 166k contained tonnes of copper in the probable category.

In the proved and probably category, the estimate was 51.5m tonnes at 0.6% copper for 303k contained tonnes of copper.

'We are very pleased to deliver a maiden ore reserve for the BKM copper project, a major milestone which assesses the economic viability of the project,' chief executive Peter Bird said. At 2:52pm: [LON:ARS] Asiamet Resources Limited share price was -0.72p at 4.63p



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