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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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20 Dec 2011 08:47

Berkeley Mineral Resources soars on copper option

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 of

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25 Nov 2011 08:04

Berkeley Mineral to cash in on zinc and lead dump

Berkeley Mineral Resources (BMR), the firm which owns the disused Kabwe mine in Zambia, says it is in discussions to sell on one of the huge residue dumps that it currently owns. In the mining industry, residue material is known as "tailings". Kabwe mine has three major dumps of tailings and they a

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23 Nov 2011 09:18

Berkeley Mineral Resources sees more value at Kabwe mine

Berkeley Mineral Resources, the company which aims to extract zinc and lead from residue dumps at the disused Kabwe mine in Zambia has begun re-drilling slag stockpiles. This phase of drilling is being carried out with the "percussion drills" necessary to provide samples that can be assessed by sci

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30 Aug 2011 17:19

Glencore non-exec buys first shares

Non-executive director Peter Coates has opened his account in Glencore, spending £320,000 on shares in the Swiss commodity trading house. He took 82,700 shares at 387.2p a time and has already banked a tidy profit, with the shares closing just short of 400p today. Coates is the chairman of Austral

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15 Aug 2011 13:17

Dragon's Den's Peter Jones puts up the money

Dragon's Den entrepreneur and business tycoon Peter Jones has used some of the proceeds of his sale of one of his telecoms businesses, Wireless Logic, to buy more shares in the online consumer electronics business eXpansys He bought 35,634,200 shares at 2.42p. Jones, the non-executive deputy cha

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10 Jun 2011 11:57

Berkeley will go ahead with share placement and one acquisition

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

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11 May 2011 16:36

BMR may issue discounted shares to fund bid

Miner and metals processor Berkeley Mineral Resources got a bit of a bashing on Wednesday as it proposed to place 145m new shares at 4p each, well below the prevailing mid-market price. In addition to the new placing shares the company will issue one warrant for every two placing shares subscribed

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7 Apr 2011 15:45

Diageo finance boss tops up

Diageo's finance boss Deirdre Mahlan has added to her stake in the Guinness brewer and spirits supplier, buying nearly £150,000 of shares. The American took 3,021 American Depositary Shares (ADS) in the company. An ADS, which is equivalent to four ordinary shares, is a dollar denominated share of

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31 Mar 2011 10:46

Berkeley Mineral 'positive' despite bigger loss

Losses increased at Berkeley Mineral Resources during the first half, but production at Kabwe in Zambia should start during the second half and the outlook is "very positive". The company lost £863,632 in the six months ended 31 December 2010, up from £232,468 the year before, although the latest n

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28 Mar 2011 15:40

Berkeley Mineral completes Zambia purchase

The delayed acquisition of a zinc asset in Zambia by Berkeley Mineral Resources (BMR) has finally gone through. The UK mining tailings processor saw its share price slump back in December when it announced a delay in its acquisition of the remaining stockpiles of lead and zinc tailings at the Kabwe

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13 Dec 2010 11:10

Small caps round-up: Berkeley Mineral, Goldplat

A delay in its acquisition of a zinc asset in Zambia has sent shares in miner and metals processor Berkeley Mineral Resources sharply lower. Completion of the acquisition of the Kabwe tailings dump, where materials left over from previous mining operations are processed, is now expected to take pl

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26 Nov 2010 08:01

Berkeley Mineral has funding for Kabwe acquisition

Mining and processing company Berekeley Mineral is on the look-out for more things to buy once it has completed the acquisition of the remaining tailings at Kabwe, Zambia. The company acquired an option to secure the rights to process the remaining stockpiles of lead and zinc at Kabwe Mine, Zambia

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4 Oct 2010 12:57

Small caps round-up: Infrastrata, Nexus, Western & Oriental

Gas storage group Infrastrata says it can get a project in Dorset moving forward after completing legal agreements with its partner eCORP. eCORP has acquired 50% of the project company, Portland Gas, in return for funding the next £22.9m for investment in the project, to match the amount Infrastra

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27 Jul 2010 07:44

Berkeley Mineral Metallurgical, Mineral Plan On Time, Budget

LONDON (Dow Jones)--Berkeley Minerals Resources PLC (BMR.LN), a company primarily engaged in processing mining tailings, said Tuesday that the mineral and metallurgical due diligence program is proceeding to time and to budget. MAIN FACTS: -South African drilling company Dump and Dune were c

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7 Apr 2010 11:49

Small caps round-up: Healthcare Enterprise, Dragon Oil, Phoenix IT

Shares in Healthcare Enterprise jumped after the healthcare group reported that one of the companies in which it has shares has been given formal approval to sell an artificial insemination device in the US. Reproductive Sciences, which is 27% owned by Healthcare Enterprise, said the US Food and Dr

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