Asiamet Resources (LON: ARS), the AIM-listed copper explorer, has completed the $104.9m cash sale of its KSK copper project to Hong Kong-based buyer Norin Mining, and confirmed a $93.0m special dividend for shareholders. Shares surged in early trade.
Asiamet shares opened at 1.9p and rose to 2.0775p by mid-morning today, up 12.3% from Tuesday’s close of 1.85p, touching a high of 2.1495p on volume of nearly 36 million shares.
Asiamet said in a stock exchange announcement this morning that it has completed the sale of Indokal Limited, which held its 100% interest in KSK, to Norin Mining (Hong Kong) Limited for $104.9m cash. The deal was first struck in November 2025 on a cash-free, debt-free basis valuing it at $105m. The board has now approved a $93.0m special dividend, equivalent to roughly $0.0268 per share, to be converted into sterling at a rate confirmed nearer payment, meaning the exact pence-per-share figure is not yet fixed.
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The shares rallied sharply as the announcement of the completed sale and dividend hit the market this morning. Grant Samuel advised Asiamet on the transaction, with A&O Shearman as legal adviser, Strand Hanson as nominated adviser and Shore Capital as broker. Once the dividend is paid, Asiamet’s principal remaining asset will be the Beutong copper-gold project in Aceh, Indonesia, with the board still weighing its options and no confirmed development timetable.
Tony Manini, Asiamet’s chairman, said completion of the KSK sale “represents a significant milestone for Asiamet and its shareholders and is the culmination of many years of work to advance the KSK Project.”
Shareholders must hold stock by the 15 September record date to qualify, with shares trading ex-dividend from 14 September, a bank-details deadline of 18 September, and payment due on 29 September.
