Update on Proposed Sale of Indokal (KSK Project)

Asiamet delays its Indonesian asset sale, extending the deadline by one month.

Risk flags

• ●Regulatory risk is high, as the transaction depends on unspecified Indonesian government approvals and processes, with no timeline or status detail provided. Delays or denials could prevent completion.
• ●Execution risk is elevated due to the repeated need for deadline extensions, indicating that key workstreams are not progressing as quickly as planned. The lack of specific milestones achieved increases uncertainty.
• ●Disclosure risk is present, as the announcement omits transaction value, financial impact, and operational data, making it impossible to assess the materiality or likelihood of completion.

Bottom line

This announcement signals only a procedural extension of the asset sale deadline, with no new financial or operational information disclosed. The lack of transaction value, regulatory milestone detail, or evidence of substantive progress means investors have little basis to assess the likelihood or timing of completion. All forward-looking statements are generic and unsupported by data. Until the company provides concrete evidence of regulatory approvals or transaction closing, the narrative remains speculative. The most important takeaway is that the sale remains delayed, and the path to value realization is both long and uncertain. Investors should not treat this update as actionable until material progress or financial terms are disclosed.

Announcement summary

(AIM: ARS) Asiamet Resources Limited provides shareholders with an update on the proposed sale of its wholly owned subsidiary, Indokal Limited, which owns a 100% interest in the KSK Project, to Norin Mining (Hong Kong) Limited. The remaining Indonesian regulatory processes and associated completion workstreams continue to progress. The Company and Norin Mining have agreed to extend the long stop date under the Sale and Purchase Agreement from 6 August 2026 to 7 September 2026. Asiamet is working closely with the relevant Government of Indonesia authorities to advance the Transaction towards completion as soon as is practically possible. The company projects further updates to shareholders as appropriate.

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