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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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28 Mar 2014 13:08

Losses at Berkeley Mineral Resources widen as operations ramp up

Berkeley Mineral Resources (BMR), which extracts metals from tailings at former mines, said that losses widened in the first half, causing its share price to sink sharply on Friday. The company said it "made further progress towards its strategic goal of becoming a processor and supplier of key bas

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28 Mar 2014 12:33

Berkeley Mineral Resources Loss Grows As It Develops Zambia Operations

LONDON (Alliance News) - Berkeley Mineral Resources PLC Friday said its pretax loss widened in its first half as expenses increased in order to further develop its operations in Zambia. The AIM-listed resource company with operations in Zambia, which is yet to produce any revenues, said its

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28 Mar 2014 11:33

UK WINNERS & LOSERS: Strategic Natural Rebounds; Life Insurers Fall

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.

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FTSE 100 - WINNERS

Glencore Xstrata, up 1.9%, Anglo American, up 1.6%, and Rio Tinto, up 1.4

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3 Feb 2014 10:57

Berkeley Mineral Resources Announces Positive Results From Copper Processing Trials

LONDON (Alliance News) - Berkeley Mineral Resources PLC Monday announced the latest results from continuing copper processing trials at Kabwe in Zambia. The AIM-listed resource company with operations in Zambia, said the tests, which commenced in December following the construction of a cop

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11 Nov 2013 11:20

Berkeley Mineral Resources Sees Annual Profit Of USD3 Million From Kabwe Site

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26 Sep 2013 08:09

Berkeley Mineral Resources To Start Copper Tailings Production In Q4

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9 Sep 2013 12:14

Berkeley Mineral Resources Tailings Sites To Be Assessed

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12 Jun 2013 08:34

Berkeley Mineral Resources acquires copper processing plant

Berkeley Mineral Resources,the AIM-listed resource company engaged in the processing of tailings dumps in Zambia, has acquired a copper processing plant, an statement issued by the company has shown. The new plant will be located on the company's site at Kabwe and will process tailings and other ma

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25 Apr 2013 10:27

Berkeley Mineral Resources moves step closer to production at Kabwe mine

Berkeley Mineral Resources (BMR), the AIM-listed tailings processing company, has reported that Ascot, its appointed processing consultant, has received a final batch of representative samples of washplant stockpiles from BMR's Kabwe mine-site in Zambia. The Kabwe mine was in operation from 1906 t

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12 Mar 2013 09:51

Berkeley Mineral Resources begins programme at Kabwe

Berkeley Mineral Resources (BMR) said on Tuesday it kicked off processing of washplant tailings at the former Kabwe mine site in central Zambia. The programme is expected to produce zinc and lead grade of no less than 40% by year end. Last year BMR acquired all the tailings at the former Kabwe min

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4 Feb 2013 08:56

Berkeley Mineral Resources on copper programme in Zambia

Berkeley Mineral Resources announced Monday that it has kicked off operations at its copper processing pilot programme at Ndola, northern Zambia. Production is under way after securing the industrial zone site, according to the group which is engaged in the processing of copper tailings dumps - the

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28 Jan 2013 09:23

Berkeley Mineral Resources: tech team's Zambia findings due in February

AIM-listed metals processing company Berkeley Mineral Resources expects to receive feedback on its lead and zinc benification plant in Zambia as early as February, a trading update published by the company on Monday has disclosed. The company, which appointed Ascot Group to draw up plans for its be

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18 Jan 2013 15:53

Sector movers: Evraz leads industrial metals stocks higher

Strong gains for steel giant EVRAZ helped push the industrial metals and mining sector to the top of the pile on Friday. Shares in EVRAZ were up 4.39% at 304.2p in afternoon trade despite the company reporting that steel production fell 6.0% from the third to the fourth quarter mainly due to the sc

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18 Dec 2012 17:00

Geronimo Inns MD offloads shares in parent group Young's & Co

Rupert Clevely, the Managing Director of Young's & Co Brewery's Geronimo Inns division, sold nearly half a million pounds-worth of shares in the pubs group on Tuesday. Clevely, who co-founded Geronimo Inns, sold 62,688 shares in Young's & Co at 701.3573p a pop, earning himself a total of £439,667.

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13 Dec 2012 16:33

Cairn Chairman reduces stake by more than half

The wife of Cairn Chairman, Sir Bill Gammell, has traded in a large slice of shares, reducing his stake in the oil exploration company to 596,331 shares. Lady Janice Gammell sold the shares at 263.26p earning £1.45m before tax. The Chairman earned a further £260,006 through the sale of another 9

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