your initial deposit *subject to change and depends on individual circumstances.
UPDATE: Berkeley Minerals shares rise as it completes consolidation of Kabwe mine assetsAugust 17 2012, 4:09pm
---Adds broker comment and share price---
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.