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Market: AIM
Sector: General Mining - Zinc, Lead and Tin
EPIC: BMR
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Deal BMR Tax Free*
*subject to change and depends on individual circumstances.
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Berkeley Mineral Resources
www.bmrplc.com
Deal Berkeley Mineral Resources Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.
Berkeley Mineral Resources Plc (“BMR”) is a mineral processing company, with a strategy of processing tailings at former mines. It is currently principally engaged in the extraction of zinc and lead from tailings Dumps at the world-famed Kabwe mine in Zambia.
Full Berkeley Mineral Resources profile here
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UPDATE: Berkeley Minerals shares rise as it completes consolidation of Kabwe mine assets

August 17 2012, 4:09pm BMR already owns tailings stockpiles at Kabwe with 6.4 million dry tonnes grading 5.48 per cent lead and 5.50 per cent zinc

---Adds broker comment and share price---

Berkeley Mineral Resources (LON:BMR) shares advanced today as it completed its consolidation of the whole of the former Kabwe mine in Zambia.

It has now completed a deal to acquire the remaining land and surface rights, as well as the former beneficiation plant, electrical transformer and other assets. The deal also secures access to the adjacent international railway sidings.

BMR already owns tailings stockpiles at Kabwe with 6.4 million dry tonnes grading 5.48 per cent lead and 5.50 per cent zinc.  

And it now owns underground ore bodies with an estimated 51 million tonnes at a combined grade of 4 per cent.

"With the acquisition of the surface rights, all the assets and the licence at Kabwe, BMR has succeeded in its strategy of consolidating its position,” said chairman Masoud Alikhani.

“We now enter a new era in which we can harness the infrastructure and the mineral assets to restore the importance of the former Kabwe mine to global metals supplies.”

BMR already has a memorandum of understanding with Chinese firm Yunnan Xiangyun Feilong Nonferrous Metal, and it says this is ‘proceeding well’.  The Chinese have tested stockpile material, and further tests are also being carried out.

Broker Seymour Pierce said in a note: "We now look forward to news on the the company's tailings project following receipt of sample materials from the site by Feilong Nonferrous Metal Company in China under the Memorandum of Understanding  between the two firms."

As at 4.08pm, the firm's shares were up 8.53 per cent, at 3.50 pence.

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