Asiamet Resources Limited (ARS) has completed the sale of its Jelai IUP to Ship Ocean Lte for US$800,000. The Jelai IUP is currently in the process of being converted from an IUP Exploration to an IUP Production. Ship Ocean Lte will acquire the property from Asiamet and assume full responsibility for the ongoing processing of the Jelai IUP. Meanwhile significant progress has also recently been made on the Beutong IUP exploration to production conversion. After completing a review of the Beutong IUP Production application documents, the Indonesian Ministry of Energy and Mineral Resources (ESDM) requested further revisions to be made.
