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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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28th Jul 20117:00 amRNSKabwe JORC Results
14th Jul 20117:00 amRNSOptions to Acquire Further Kabwe Assets Exercised
1st Jul 20117:00 amRNSLuanshya Update
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28th Jun 20117:00 amRNSHolding(s) in Company
27th Jun 20117:00 amRNSComment re Price Movement
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10th Jun 20117:00 amRNSKabwe Due Diligence Completed
11th May 20117:00 amRNSProposed Placing & Acquisition
4th May 20117:00 amRNSLuanshya Memorandum of Understanding
26th Apr 20117:00 amRNSDirectorate Change
8th Apr 20117:00 amRNSDirectors Share Dealing
7th Apr 20117:00 amRNSDirectors Share Dealings
31st Mar 20117:00 amRNSInterim Results
28th Mar 20117:00 amRNSKabwe Acquisition Agreement Signed
14th Jan 20117:00 amRNSBoard Change
17th Dec 20102:00 pmRNSResult of AGM
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26th Nov 20107:00 amRNSPreliminary Results
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5th Nov 20101:05 pmRNSAcquisition
2nd Nov 20107:00 amRNSIssue of Equity and Exercise of Warrants
28th Oct 20107:00 amRNSIssue of Equity
26th Oct 201012:53 pmRNSIssue of Equity and Exercise of Warrants
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7th Oct 201010:26 amRNSAppointment of Broker
4th Oct 20107:00 amRNSPlacing to Raise ?850,000
8th Sep 201011:11 amRNSResult of Meeting
6th Sep 20109:00 amRNSHolding(s) in Company
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19th Aug 201011:34 amRNSFurther re Placing
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27th Jul 20109:02 amRNSChange of Registrar
27th Jul 20107:00 amRNSUpdate on Kabwe Tailings
1st Jun 20107:00 amRNSOption on Kawbe Tailings Dumps Secured
28th Apr 20103:52 pmRNSIssue of Equity
27th Apr 201011:25 amRNSHolding(s) in Company
16th Apr 20104:21 pmRNSHolding(s) in Company
12th Apr 201010:33 amRNSIssue of Equity
7th Apr 20107:00 amRNSPlacing
31st Mar 20107:00 amRNSInterim Results
22nd Mar 20107:00 amRNSKabwe Progress Update
18th Dec 200911:30 amRNSAGM Statement

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