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Berkeley Mineral Resources Share Chat (BMR)



Share Price: 1.125Bid: 1.10Ask: 1.15Change: 0.00 (0.00%)No Movement on Berkeley Min.
Spread: 0.05Spread as %: 4.55%Open: 1.125High: 1.125Low: 1.125Yesterday’s Close: 1.125


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EricDraven
Posts: 15,412
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Price:1.25
FireballXL5
Wed 15:13
Yes, we should be mindful of this, important to note, in case it affects our progress. It will be something else out of our control and as such, BMR should not be held accountable for any disruption caused by this event.

Cheers Fireball.
 
FireballXL5
Posts: 137
Observation
Opinion:No Opinion
Price:1.25
Sata
Wed 15:09
"DIVISIVE FIGURE"

Sata, whose populist platform included defending workers' rights, was often fiercely critical of the foreign mining companies operating in Zambia's copper belt. Analysts said his death could prompt a rise in investment in the country.

"President Sata has been a divisive figure for Zambia on the economic front, espousing increasingly authoritarian and ad hoc policy measures against the crucial mining sector in recent years, which has hampered investment," South African consultancy ETM said.
http://www.reuters.com/article/2014/10/29/us-zambia-sata-idUSKBN0II06S20141029

"The president's passing could make way for a more reformist administration and help to remove broader policy uncertainties."
FireballXL5
Posts: 137
Observation
Opinion:No Opinion
Price:1.25
Sata's Successor?
Wed 15:02
http://www.miningmx.com/page/news/base_metals/1647252-Zambia-by-election-may-disrupt-copper-miners#.VFD8kcnqco8
Zambia by-election may disrupt copper miners
David McKay | Wed, 29 Oct 2014 15:26

– THE death of Zambian president Michael Sata, 77, at a hospital in London yesterday, would result in a by-election in 90 days that would stall all government business and could disrupt key cargo routes for copper exports.

Principal Africa analyst at IHS, Robert Besseling, said in a note that violence between partisan supporters and security forces was also a possibility.

Sata, who was elected to power in 2011 after long campaigning for the post, died shortly after 11pm on Tuesday at London’s King Edward VII hospital, the cabinet secretary Roland Msiska said in a statement.

“President Sata’s demise is deeply regretted. During this difficult period, I urge all of you to remain calm, united and peaceful,” the statement read.

Under Zambia’s constitution the country will have to hold an election for a new leader within 90 days of the death of the president, said Besseling.

"Over the next 90 days, ahead of a presidential by-election, all government business will be stalled," he said. A leadership tussle within the Patriotic Front (PF), that Sata led, could result in violence, especially in Lusaka and the copperbelt.

"Disruption to key cargo routes for copper exports (including from neighbouring DRC) to Botswana and Zimbabwe face is likely, although damage to mine property is unlikely," said Besseling who added there was a "moderate" risk of contract renegotiation once Sata's successor was nominated.

Glencore operates Mopani Copper Mines in Zambia while First Quantum Minerals, African Rainbow Minerals, and Vedanta also operate copper operations in the country.

There was a chance that under the leadership of PF contenders, Wynter Kabimba, former defence minister and current PF secretary general, or PF party secretary-general, Edgar Lungu, Sata's interventionist polices in the copper sector might be reversed.

These included the banning of VAT payments which has led to Glencore downscaling operations while First Quantum Minerals said it would curb expansion.

Barrick Gold also said recently that plans by Zambia to increase royalties payable by mining firms would threaten the viability of its Lumwana mine.

This was after Zambian finance minister, Alexander Chikwanda, said higher royalties would replace corporate income taxes for mines. In terms of the proposal, the current 6% royalty for all mines would rise to 8% for underground mines and 20% for open-pit operations.

The main opposition parties to the PF is the Movement for Multi-Party Democracy (MMD) led by former vice president Nevers Mumba and the United Party for National Development (UPND) led by Hakainde Hichilema.

"A victory by the MMD or UPND would severely increase revision and cancellation r
EricDraven
Posts: 15,412
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valencia
Wed 15:00
Crikey Val. The Sweeney is onto 'em. Good if there are irregularities, the guilty must be brought to justice. Just so long as it isn't those under scrutiny who are today salting the cash away in BMR. Lol.
ScootDog
Posts: 18
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RE: ScootDog
Wed 14:59
Unfortunately I've developed too many characters according to some psychiatric report! Anyway i hope, upon my release I will be reaping the bmr rewards.
EricDraven
Posts: 15,412
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ScootDog
Wed 14:55
What, this hasn't been fun? Come on.

It has certainly been character-building. I used to be a rakish fop, and now look.
valencia
Posts: 10,687
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you think we have problems?
Wed 14:53
ScootDog
Posts: 18
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RE: ScootDog
Wed 14:46
Yep! Don't post much as not as well informed as others but do read on a daily. Yes, but at least I would have had a hell of a lot of fun in the last 4 years!;-)
EricDraven
Posts: 15,412
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View Thread (2)
ScootDog
Wed 14:42
You been here that long as well? Nah, if each of us hadn't have invested back then, we'd have only blown that money frivolously. Lol.
lutonnews
Posts: 2,621
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About time
Wed 14:41
Probably an RNS logged .
Impending appointment tomorrow?.
News on processing starting would be better.



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