Copper: December 2013: Berkeley Mineral Resources (AIM:BMR), the AIM listed resource company engaged in the processing of tailings dumps in Zambia, is pleased to announce that construction of the copper cementation plant at Kabwe is now complete. A dry test has been run on all aspects of the plant and the Company is now water testing all pumps and motors at operational pressure. This will be followed at the beginning of next week by the proof of concept testing with the resultant trial production using acid leeching and cementation. Masoud Alikhani, Chairman, commented: "We have now finished construction of the cementation plant and once testing has been completed next week we are ready to commence production using the oxide material. In 2014 we will bring copper sulphide and lead and zinc processing on stream". Lead and Zinc: DFS concluded an achievable Internal Rate of Return of 197% on processing and sales of the washplant tailings. These have a net value of £18m to NMR – nearly our current market cap – so no value in our share price attributable to the unmined resources, other tailings or all of the acquired copper tailings worth billions. See page 5 of the below link: http://www.bmrplc.com/files/9813/7848/2874/Executive_Summary_of_the_DFS_for_the_WPT.pdf "BMR is not surprised that this final public meeting has so convincingly approved its processing proposals at Kabwe. Since first securing the tailings on the Kabwe mine site, the Company has consistently stated that, in addition to optimising its commercial benefit, it intends to process its tailings and still-to-be-mined underground resource assets at Kabwe with the integral aims of reducing pollution, competently clearing and remediating the site and providing employment for the local community.
At BMR behind the scenes and news will be released when appropriate. In the mean time consider what BMR has achieved...
I heard BMR has £Billions of assets under ownership, has proved an incredibly profitable return on capital employed and that it can be processed. We have plenty of cash in the bank to meet current cash burn, we have NO debt, we have all licences and approvals for production to commence, we have a JV for finance requirements with Hunan (Chinese), we have got all of the locals behind us, we have Mark Wainwright (MD of mining and metals for Turner and Townsend), we have Horacio Furman (renowned for expertise in working with the Chinese), the last few bits to slip into place now. LET BMR CONTINUE WITH THE GOOD WORK THEY HAVE ACHIEVED AND HAVE PLANNED TO TURN RESOURCES INTO CASH.
Found your attack on DUFC totally inappropriate for this medium and rather pathetic. Haven't reported it because I believe we should all be mature enough to exercise proper constraint in our dealings with others. If you don't like what the guy says, just ignore him. He won't hang around long without the platform you keep giving him. God I hope we get some decent news today. Might just stop all this rather silly bickering. GLA
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.