Asiamet Resources (AIM:ARS) , the Indonesia-focused mineral exploration and development company, has completed the sale of Indokal, owner of the KSK Project, to Norin Mining (Hong Kong) Limited.
The company received $104.9 million in cash consideration, and, the board has approved a special cash dividend of $93 million, equivalent to approximately $0.0268 per common share, to be paid out to shareholders.
The shares will go ex-dividend on 14 September and payment is due on 29 September.
Shareholders needing to update bank details face an 18 September deadline.
With Indokal sold, Asiamet's principal remaining asset is the Beutong Project in Aceh, Indonesia, where the board is still working out a path forward with local communities and government authorities.
"Completion of the KSK Transaction represents a significant milestone for Asiamet and its shareholders and is the culmination of many years of work to advance the KSK Project," said chairman Tony Manini.
News Intelligence what this means for the company
Asiamet has closed the $104.9 million sale of its KSK Project to Norin Mining and will return $93 million to shareholders as a special dividend of $0.0268 per share, paid in sterling on 29 September. The deal, announced in November 2025, cleared its final regulatory hurdle in early September, and completion fulfills the board's stated intention to return most proceeds to shareholders while leaving the company focused on its Beutong Project in Aceh.
The sale converts Asiamet from a two-project explorer into a single-asset company dependent on progress at Beutong, where the board is still negotiating a path forward with local communities and authorities. Shareholders receive a near-total return of capital from the KSK exit, but the company's future value now rests entirely on Beutong development.
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