14 Jun 2018 09:42
BMR Group PLC
("BMR", the "BMR Group" or the "Company")
Kabwe plant update
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Further to its announcement on 2 May 2018, BMR announces that it was informed yesterday by Jubilee Metals Group PLC ("Jubilee") that discussions between Jubilee, in its capacity as operator of the proposed Kabwe plant, and the Zambian authorities are not expected to conclude until later this month.
Accordingly, Jubilee will not be in a position to (i) finalise its initial design, work programme and budget for the construction phase of the Kabwe plant and (ii) make its decision whether to proceed with the plant development until these discussions conclude.
BMR anticipates updating shareholders on both matters by the end of June.
For further information:
BMR Group PLC 020 7734 7282
Alex Borrelli, CEO and Chairman
WH Ireland Limited (NOMAD and Joint Broker) 020 7220 1666
Chris Fielding, Managing Director, Corporate Finance
Alex Bond, Executive
Peterhouse Corporate Finance (Joint Broker) 020 7469 0930
Lucy Williams
Duncan Vasey