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BMR Group secures funding for Kabwe development

Fri, 23rd Sep 2016 11:07

(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 the facility provides that ACI will make available up to US$4.2 million to EML for use in connection with the plant and materials processed at Kabwe, upon achievement of various milestones, through to commissioning of the plant and proof of saleable product.Additionally, the facility provides for the drawdown of $1.0m to satisfy the consideration payable to exercise the option agreement with Bushbuck Resources for the acquisition of its Star Zinc Large Scale Prospecting Licence 19653-HQ-LPL in Zambia, as announced on 16 August.Drawdowns under the facility, which is interest free but involves an arrangement fee of $0.1m, are to be repaid within 12 months of the final milestone, set off against product revenues due from ACI, or, at EML's election, in cash."This facility represents a defining moment for the company as the financing has underpinned our planned cost of the plant at Kabwe," said BMR chairman Alex Borrelli."We are pleased to have delivered this facility for the benefit of our shareholders who have supported the management team in our endeavours for processing the Kabwe tailings."Borelli said the facility also provides the firm with the funding necessary for exercising the option agreement on the Star Zinc licence."Our continuing progress on our schedule of works at Kabwe remains in line for completing the plant construction for commissioning in 2017."

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BMR Group Loss Narrows As It Seeks To Reclaim Kabwe Licence

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BMR Receives Encouraging Results For Vanadium Potential At Kabwe Mine

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

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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

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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

8 Aug 2016 09:47

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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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