Asiamet said approval from the governor of Central Kalimantan was an important step towards securing the forestry borrow-to-use permit it needs from Jakarta.

Asiamet's executive chairman, Tony Manini, said the governor's recommendation was "very timely and while the value of this work is often under-estimated, the receipt of key approvals and permits serves to significantly de-risk and add substantial value to the project".

Asiamet's next permitting steps entail negotiating road access with forestry concession holders and getting its environmental impact assessment rubber stamped.

Shares in AIM-listed Asiamet jumped 27% from Thursday's closing price at market opening on Friday, before retracing over the course of the morning to settle at just under 2.7p. This represents an increase of over 200% since mid-March, when the shares were valued as little as 0.85p.

Manini told Mining Journal in mid-April the company was on the verge of securing a partner for BKM.