For Immediate Release                  London AIM


24 May 2018 Symbol: ARS





Asiamet Director Changes

Over the past three and a half years Asiamet Resources Limited ("Asiamet" or the "Company") has been very focused on building value through exploration, Resource evaluation and technical and financial studies. Many significant milestones have been achieved and the Company is very well positioned to move to its next stage of growth. As the Company transitions from explorer to developer and ultimately a producer, it also needs to continue evolving its board and management team to ensure it has the right mix of skills and experience to successfully execute on its strategy.  As such, project financing, plant construction and commissioning, mine operations and Corporate and Social Responsibility (“CSR”) skills and experience are all required to complement our existing capabilities both at management and board level. 

As part of this evolution, Mr Stephen Hughes has notified the Company that after 22 years in Indonesia he will be returning to live in Canada with his family and as such will step down from his positions of Vice President – Exploration and Board Executive Director effective 24 May 2018.  Mr Hughes will continue to serve the Company as a consultant and advisor.

To ensure Asiamet has the appropriate mix of skills and experience to deliver on its next stage of growth and development, the Company is in advanced discussions with several high calibre individuals to fill both board director and senior management positions in Indonesia. These appointments will be advised once completed.


Tony Manini, Executive Chairman commented:

“On behalf of the Company, I would like to acknowledge Steve’s very substantial contribution to Asiamet’s growth and development over the past few years.  With passion, dedication and skill he has successfully led the Company’s Indonesian operations to achieve numerous significant milestones and positioned us very well for the next phase of our growth and development. We wish Steve and his family well for their return to Canada and look forward to his ongoing contribution to the success of the Asiamet as a consultant and advisor.  I am also very pleased to advise that the quality of our assets and strong corporate brand have enabled us to attract some exceptional board and senior management capability to the Company and we look forward to announcing these appointments shortly.”



Peter Bird, Deputy Chairman and CEO


For further information, please contact:

Peter Bird
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email:[email protected]


Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email:[email protected]

FlowComms Limited

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: [email protected]

Asiamet Resources Nominated Adviser
RFC Ambrian Limited

Andrew Thomson / Stephen Allen

Telephone: +61 8 9480 2500

Email: [email protected] [email protected]


Neil Elliot, Clayton Bush, Kane Collings                

Telephone: +44 7773 322679

Email: [email protected]


Optiva SecuritiesLimited
Christian Dennis

Telephone: +44 20 3137 1903

Email: [email protected]



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