Asiamet Resources : 2022 Interim Report and Financial Statements

Asiamet Resources Limited

Listed on AIM: ARS

17 August 2022

2022 Interim Report & Financial Statements

Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its unaudited financial statements for the 6 months ended 30 June 2022 ("Financial Statements") as extracted from the Company's 2022 Half Year Report which is now available on the Company website at www.asiametresources.comand will be provided to shareholders who have requested a printed or electronic copy.

The Financial Statements are set out below and should be read in conjunction with the 2022 Half Year Report which contains the notes to the Financial Statements.

All dollars in the report are US$ unless otherwise stated.

2022 Financial and Operational Highlights Include:

• Appointment of Mr Darryn McClelland as a CEO.
• BKZ Mineral Resource update following the completion of an 8,630 metre drilling program in early 2022 which saw a 50% increase in contained zinc and 75% uplift in contained copper.
• Completion of the due diligence process with PT Delta Dunia Makmur Tbk. (DOID), covering all technical workstreams including a first phase diligence by an independent technical expert recommended by a financial institution. The Company remains in continued discussions with DOID in respect to consolidating a strategic partnership to advance the BKM Copper Project through to project financing and mine development.

ON BEHALF OF THE BOARD OF DIRECTORS

Antony (Tony) Manini, Chairman

For further information, please contact:

-Ends- Tony Manini

Chairman, Asiamet Resources Limited

Email:[e-mail]

FlowComms Limited - Investor Relations

Sasha Sethi

Telephone: [phone]

Email:[e-mail]

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Asiamet Resources Nominated Adviser

RFC Ambrian Limited

Bhavesh Patel / Stephen Allen

Telephone: [phone]

Email:[e-mail]/[e-mail]

Optiva Securities Limited

Christian Dennis

Telephone: [phone]

Email: [e-mail]

Follow us on twitter @AsiametTweets

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

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Interim condensed consolidated statement of financial position

As at

30-Jun31-Dec

2022 2021

Unaudited Audited

$'000 $'000

Assets

Current assets

Cash

Receivables and other assets

Non-current assets Plant and equipment Right-of-useassets Receivables and other assets

Total assets

5,182 9,060

2733

5,209 9,093

4660

57

1. 71

1. 138

5,328 9,231

Liabilities and Equity
Current liabilities
Trade and other payables	820	537
Provisions	283	285
Lease liabilities	99	159
Non-current liabilities	1,202	981
Provisions	714	794
Equity	1,916	1,775
Share capital	19,393	19,393
Equity reserves	65,975	65,975
Other comprehensive income	49	49
Accumulated deficit	(78,752)	(74,708)
Other reserves	(3,246)	(3,246)
Parent entity interest	3,419	7,463
Non-controlling interest	(7)	(7)
Total liabilities and equity	3,412	7,456
5,328	9,231

Note all references to $ are US dollars

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Interim condensed consolidated statement of comprehensive loss (unaudited) For the six months ended 30 June

Expenses

Exploration and evaluation

Employee benefits

Consultants

Legal and Company Secretarial

Accounting and audit

General and administrative

Depreciation

Share-based compensation

Other items

Other gains

Foreign exchange losses

Finance costs

Impairment expenses

Other income

Net loss for the half year

Net loss attributable to:

Equity holders of the parent

Non-controlling interests

Total comprehensive loss attributable to:

2022 2021

$'000 $'000

(2,236) (1,003)

(1,073) (912)

1. (41)

1. (99)

1. (1)

1. (182)

1. (20)

1. (92)

(3,839) (2,350)

• 122

1. (150)

1. (10)

1. (33)
   1 1

1. (70)
   (4,043) (2,420)

(3,937) (2,335)

1. (85)

Equity holders of the parent	(3,937)	(2,335)
Non-controlling interests	(106)	(85)
Basic and diluted loss per common share (cents per share)	(0.21)	(0.15)
Weighted average number of shares outstanding (thousands)
1,942,542	1,625,081

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Interim condensed consolidated statement of cash flows (unaudited) For the six months ended 30 June

	2022	2021
	$'000	$'000
Operating activities
Loss for the half year	(4,043)	(2,420)
Adjustment for:
Depreciation	20	20
Share-based compensation	104	92
Net foreign exchange gains	(4)	(18)
Impairment expenses	146	33
Finance costs	5	10
Movements in provisions	(80)	(20)
Changes in working capital:
Receivables and other assets	(145)	(12)
Trade and other payables	180	(194)
Other adjustments:
Interest payments	(5)	(10)
Net cash flows used in operating activities	(3,822)	(2,519)
Investing activities
Purchases of plant and equipment	(6)	(5)
Net cash flows used in investing activities	(6)	(5)
Financing activities
Payment of principal portion of lease liabilities	(50)	(75)
Proceeds from equity raising	-	14,089
Equity raising costs	-	(735)
Net cash flows from/(used in) financing activities	(50)	13,279
Increase/(decrease) in cash	(3,878)	10,755
Cash at beginning of the year	9,060	1,186
Cash at 30 June
5,182	11,941

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