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Chingola Update

9 Jul 2012 07:00

RNS Number : 1669H
Berkeley Mineral Resources PLC
09 July 2012
 



BERKELEY MINERAL RESOURCES PLC

("BMR" or the "Company")

 

Chingola Copper Tailings Update

 

Berkeley Mineral Resources Plc, the AIM-listed metals processing company, announced on 20 December 2011 that it had signed an Option Agreement which gave BMR the exclusive right to carry out due diligence on three substantial stockpiles of copper tailings ("clusters") located within a 7km radius of each other in the Chingola area in the north of Zambia. On 19 April 2012 it further announced that it had extended the Option exercise date to 9 July 2012.

 

On 3 July 2012, BMR announced it had concluded negotiations over the first Chingola cluster at Rephidim site, by signing an Assignment Agreement over an existing Joint Venture.

 

However, BMR has not yet been able to complete satisfactory due diligence over the other two clusters at Chingola, in one case due to overlapping mining licence factors. The Company continues to negotiate with the directors of the parties concerned and for one cluster it is agreed that BMR's exclusive right to carry out due diligence is extended until at least 8 August 2012.

 

 In addition, BMR's Zambian development team has commenced negotiations regarding Option Agreements over further copper clusters in the Ndola area in northern Zambia.

 

Masoud Alikhani, Chairman, commented:

 

"While BMR is intent on securing substantial stockpile copper tailings in the Zambian Copperbelt to add to the zinc and lead resources already secured at Kabwe, we will only acquire high quality delineated resources that are accompanied by good title. The team is working hard to allow us to take advantage of the opportunities currently available".

09th July 2012

This release has been reviewed by Dennis Human, B.Sc. (Hons), Bus. Admin (Hons), MGSSA,

Consulting Geologist to the Company, who is a Qualified Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies.

 

For further information please contact:

Berkeley Mineral Resources Plc

Masoud Alikhani, Chairman

020 7408 1181

 

Seymour Pierce

Stewart Dickson / Jonathan Wright (Corporate Finance)

Jeremy Stephenson / Richard Redmayne (Corporate Broking)

020 7107 8000

 

Lothbury Financial Services

Michael Padley /Gary Middleton

020 7868 2010

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCDQLFBLDFXBBB
Date   Source Headline
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22nd Aug 20137:00 amRNSDFS Draft Received
9th Aug 20137:00 amRNSWarrant Amendment
5th Aug 20137:00 amRNSKabwe Update: Production 2013
12th Jun 20137:00 amRNSCopper Plant Acquisition: Production Q3
25th Apr 20137:00 amRNSPre-Feasibility Notice
24th Apr 20137:00 amRNSWarrant Amendment
28th Mar 20132:00 pmRNSInterim Results
12th Mar 20137:00 amRNSKabwe Update
19th Feb 20137:00 amRNSChange of Adviser
4th Feb 20137:00 amRNSNdola Copper Update
28th Jan 20137:00 amRNSAscot Technical Team In Zambia
21st Dec 201212:30 pmRNSResult of AGM
21st Dec 20127:00 amRNSAGM Statement
20th Dec 201212:00 pmRNSDirectors' Share Dealings
19th Dec 201212:15 pmRNSDirectors' Share Dealings
18th Dec 20123:09 pmRNSDirectors' Share Dealings
14th Dec 20124:31 pmRNSDirectors' Share Dealings
13th Dec 201210:00 amRNSDirectors' Share Dealings
11th Dec 20127:00 amRNSASCOT Appointment
29th Nov 20124:30 pmRNSNotice of AGM
29th Nov 20127:00 amRNSPreliminary Results
6th Nov 20127:00 amRNSUpdate on Feilong Progress
25th Oct 20127:00 amRNSWarrants Amendment
24th Oct 20127:00 amRNSCopper Joint Venture Established
12th Oct 20128:30 amRNSChange of Registered Office
13th Sep 201210:08 amRNSFeilong MOU Update
17th Aug 20127:00 amRNSKabwe: remaining assets acquired
10th Aug 20122:00 pmRNSChingola Update
9th Jul 20127:00 amRNSChingola Update
3rd Jul 20127:00 amRNSSigning of Chingola Joint Venture
15th Jun 20127:00 amRNSMemorandum of Understanding
1st Jun 20124:00 pmRNSKabwe Update
24th Apr 20127:00 amRNSWarrants Update - Amendment
19th Apr 20127:00 amRNSChingola Copper Tailings Update
16th Apr 20127:00 amRNSKabwe Update
3rd Apr 20127:00 amRNSGovt Approval for Kabwe Site Acquisition
30th Mar 20127:00 amRNSInterim Results
16th Mar 20127:00 amRNSIssue of Equity
29th Feb 20127:00 amRNSKabwe Operational Update
7th Feb 20127:00 amRNSUpdate on Kabwe Options
20th Jan 20127:00 amRNSDirector/PDMR Shareholding
20th Dec 201111:31 amRNSAGM Result
20th Dec 20117:00 amRNSCopper Option Agreement Signed
14th Dec 20117:00 amRNSKabwe Update
25th Nov 20117:00 amRNSPreliminary Results
23rd Nov 20117:00 amRNSKabwe Resource and Operations Update
2nd Nov 20117:00 amRNSWashplant Tailings to be Sold
30th Aug 20117:00 amRNSDirector/PDMR Shareholding
18th Aug 20115:18 pmRNSHolding(s) in Company

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