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Berkeley will go ahead with share placement and one acquisition

Fri, 10th Jun 2011 11:57

Miner and metals processor Berkeley Mineral Resources has today announced that its due diligence on BMR's proposed purchase of all the remaining stockpiles of tailings, not presently owned by it at the Kabwe mine, in Zambia, has been completed satisfactorily. The acquisition is now expected to go forward shortly. Following completion, Enviro Mining Ltd and its two Zambian-registered subsidiaries, Enviro Processing and Enviro Props, will become wholly-owned subsidiaries of BMR.Of particular importance, the company has decided not to proceed further with the proposed acquisition referred to in the company's announcement of 11 May 2011. It now considers that the purchase price indicated was substantially higher than the acquisition's value to BMR, management explains.However, the agreement between BMR and Novum Securities, for a proposed placement of 145m new shares, at 4p each, continues apace.As far as the Kabwe transaction is concerned, the company has indicated that, "Completion of the Kabwe acquisition will mark a further significant milestone in the development of BMR into a major producer of zinc and lead. Directly thereafter, we intend to finalise the design and sourcing of the processing plant, which is fully funded, to enable us to rapidly exploit the very substantial resources acquired at Kabwe."Lastly, the company has indicated that, "it is still progressing with the acquisition of tailings dumps at Luanshya and reviewing other opportunities to expand the business." As of 11:56 London time shares of Berkeley Mineral Resources are moving down by 4.20%, to 6.28p, in London trading. AB
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3 Sep 2014 16:00

Sector movers: Evraz, Ferrexpo lead industrial miners higher on Ukraine hopes

Peace talks in Ukraine were giving the industrial metals and mining sector in London a big boost on Wednesday. Steel group Evraz and iron ore producer Ferrexpo, which both have assets eastern Europe, were among the best performers in the sector, up over 5% and 3% in afternoon trade, respectively.

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19 Aug 2014 11:50

Berkeley Mineral receives approval for Zambian mining project

Berkerley Mineral Resources' (BMR) wholly owned subsidiary Enviro Processing Limited (EPL) has received approval from the Zambian Environmental Management Agency for its lead-zinc recovery and copper processing at Kabwe. The approval is subject to conditions relating to the monitoring of protectio

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19 Aug 2014 08:36

Berkeley Mineral Resources Shares Surge On Kabwe Project Approval

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19 Aug 2014 07:38

CORRECT: UK MORNING BRIEFING: Surging Market Leaves BHP Behind

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19 Aug 2014 07:22

UK MORNING BRIEFING: Surging UK Market Leaves BHP Shares Behind

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1 Jul 2014 10:14

Berkeley Mineral Resources Conditionally Raises GBP1.0 Million In Placing

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24 Jun 2014 12:57

Berkeley Mineral Resources Slides As Kabwe Project Approval Is Deferred

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11 Jun 2014 11:04

Berkeley Mineral Resources Says Kabwe Project Approval Deferred

LONDON (Alliance News) - Berkeley Mineral Resources PLC shares dropped on Wednesday after the company said the Zambian Environmental Management Agency has decided to defer its Berkeley's environmental impact statement for the Kabwe project while it consults with relevant organisations. Berk

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30 May 2014 12:34

Berkeley Mineral Resources Hasn't Received Environmental Decision For Kabwe

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said it has not received a decision from the Zambian Environmental Management Agency over the development of its Kabwe lead-zinc recovery project and copper processing plant within the anticipated schedule. The AIM-listed resour

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15 Apr 2014 09:13

Berkeley Mineral Resources Gets Approval For Kabwe Project At Public Meeting

LONDON (Alliance News) - Berkeley Mineral Resources PLC Tuesday said that its processing proposals for its Kabwe lead-zinc recovery project and copper processing plant in Zambia, was approved at a public meeting. The AIM-listed resource company with operations in Zambia, said that it expect

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15 Apr 2014 07:50

UK MORNING BRIEFING: Aggreko Leads After Mixed Results

LONDON (Alliance News) - Aggreko is leading the FTSE 100 in early trading Tuesday after the temporary power company said it has seen mixed results in its first quarter, with strong underlying revenue growth in two of its three regions being impacted by adverse currency movements as previously exp

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2 Apr 2014 11:41

DIRECTOR DEALINGS: Berkeley Minerals Chairman Buys 1.5 Million Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC Wednesday said Chairman Masoud Alikhani purchased 1.5 million shares in the company at an average price of 1.30 pence per share Tuesday. Following this transaction, Alikhani will hold a total of 24 million shares in representing 2.08%

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1 Apr 2014 14:24

DIRECTOR DEALINGS: Berkeley Mineral Resources Non-Executive Buys Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said non-executive Director Horacio Furman bought 1 million shares at a price of 1.33 pence per share Monday and now holds 4 million shares in total. Shares in the mining company were untraded at 1.30 pence Tuesday afternoon.Read more

28 Mar 2014 14:28

DIRECTOR DEALINGS: Berkeley Mineral Resources Non-Executive Director Buys Shares

LONDON (Alliance News) - Berkeley Mineral Resources PLC said its non-executive Director Mark Wainwright bought 850,000 shares in the company at an average price of 1.26 pence per share on Friday. Following the transaction, Wainwright will hold a total of 2.3 million shares in the company.Read more

28 Mar 2014 13:25

UK MIDDAY BRIEFING: FCA To Review Pensions, Life Insurance Policies

LONDON (Alliance News) - The life insurance sector was dragging down UK stock indices again Friday after the UK Financial Conduct Authority said it is set to begin an inquiry into up to 30 million policies sold from in the years prior to 2000.

The FTSE 350 sector is down 5.0% in rea

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