Berkeley Mineral Resources Share News (BMR)

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Berkeley Mineral Resources soars on copper option

Tue, 20th Dec 2011 08:47

Berkeley Mineral Resources, the Zambia-focused minerals company, has seen its share price shoot up 8% this morning after announcing it has bought an option on stockpiles of copper tailings located in the Chingola area in the north of the country.Tailings are the residue of mining activity which often become available for processing after a mine has closed.The "above ground resource" estimate at the Chingola site is for 98.9 million tonnes of tailings containing 1,445,000 tonnes of copper metal, although these figures have not been verified and are not "JORC Compliant" which is the scientific standard by which deposits are usually judged.Neverthless, Berekley is clearly optimistic.It has 90 days to assess the stockpiles, which can then be extended for a further 90 days. The cost of the option has been $275,000.If the company likes what it finds it may then acquire 80% of the three available stockpiles. That would cost $6.5m in cash and would also see the Zambian state mining company (the vendors) pick up of some 257m BMR shares at a value of 6p per share.BMR would also be obliged to build a processing plant at a cost of around $25m and guarantee royalties of $14m to the vendors.The current copper price is $332 per pound.Berekeley's Chairman, Masoud Alikhani said of the deal: "Zambia is already the world's third largest exporter of copper. Substantial long-term profits and cash-flow will accrue to us from the compelling economics of the resources BMR can acquire at Chingola."At 8.51am in London BMR shares were up 7.37%. So far this year the stock has fallen 58% although over five years the group is ahead by 24%.BS

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23 Jul 2018 13:09

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LONDON (Alliance News) - Galileo Resources PLC said Monday that it will "shortly" commence drilling at its Star Zinc Project in Zambia, after receiving positive results from an company a

11 Jun 2018 18:38

BMR Raises GBP416,000 Via Jubilee Metals Share Placing To Creditors (ALLISS)

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29 Mar 2018 13:48

BMR Group Loss Narrows As It Seeks To Reclaim Kabwe Licence

LONDON (Alliance News) - Lead and zinc miner BMR Group PLC on Thursday posted a slightly narrowed loss for its first half as it continues to try to get back the licence for to

20 Jan 2017 08:56

BMR Receives Encouraging Results For Vanadium Potential At Kabwe Mine

29 Dec 2016 09:20

BMR Group Eyes Expansion Opportunities As Loss Narrows In Year

5 Dec 2016 09:31

Metal Tiger Names New CEO And Chairman As Paul Johnson Rejoins Board

28 Nov 2016 12:05

Metal Tiger turns down offer from BMR

(ShareCast News) - Metal Tiger, an AIM listed natural resources focused investing company, announced that it had received an indicative offer from Berkeley Mineral Resources (BMR) Group. BMR, a mining company that processes Lead and Zinc at Kabwe Mine in Zambia, has offered 0.231 of its shares for e

28 Nov 2016 10:35

WINNERS & LOSERS SUMMARY: Fear Of Italian 'No' Vote Weighs On Banks

14 Nov 2016 09:07

BMR invests in metal exploration property in Portugal

(ShareCast News) - Miner BMR Group has acquired 80% of a metals exploration concession over a property in Northern Portugal. The property contains tungsten, tin, gold and silver among other minerals. The option was granted by Mineralia-Minas, Geotecnia E Construcoes, a private Portuguese geological

23 Sep 2016 11:07

BMR Group secures funding for Kabwe development

(ShareCast News) - BMR Group confirmed on Friday that it and its wholly owned subsidiary Enviro Mining Limited have entered into the anticipated project construction and trade finance facility for up to $5.2m, with private South African group African Compass International. The AIM-traded firm said t

8 Aug 2016 09:47

WINNERS & LOSERS SUMMARY: Melrose Gains As Nortek Deal Moves Ahead

8 Aug 2016 09:22

BMR Group signs off-take agreement with African Compass International

(ShareCast News) - BMR Group has signed an off-take and purchase agreement with African Compass International (ACI) to provide funding for the construction of the Kabwe mine in Zambia. The agreement provides for the off-take by ACI over a minimum five-year period, beginning within six months of comm

1 Aug 2016 12:05

BMR set to agree larger facility for Kabwe plant

(ShareCast News) - Zambia-focused mineral processing business BMR Group said it expects to agree a $3.5m loan facility alongside a sale-and-purchase deal with a private South African firm later this week. The facility, which at the end of June was only expected to be $2m, is to enable constructio

30 Jun 2016 10:41

BMR Reports Progress On Kabwe Facility In Zambia Amid Offtake Talks

16 Jun 2016 17:08

Broker tips: Charles Stanley, Playtech, Berkeley Group

(ShareCast News) - Cannacord Genuity lowered its target price on the shares of Charles Stanley and lowered its recommendation from 'buy' to 'hold' after the broker announced it would likely take between 12 to 18 months longer than originally anticipated (by the year to 31 March 2020) to reach its ta

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