31 Jul 2014 14:00
BERKELEY MINERAL RESOURCES PLC
("BMR" or "the "Company")
Placing update
Berkeley Mineral Resources Plc, which is primarily engaged in processing mining tailings in Zambia through its wholly owned subsidiary Enviro Processing Limited ("EPL"), announces that, further to the announcement of a placing made on 1st July 2014, BMR and Novum Securities Limited have agreed to extend the date in which the conditions in the Placing Agreement are to be satisfied by one month to 31st August 2014.
Under the Placing Agreement with Novum Securities Limited, £1,000,000 was to be raised in two tranches by the issuance of 71,428,570 Ordinary Shares of 1 pence in the capital of the Company at a price of 1.4 pence per share.
The First Tranche of 35,714,285 shares was issued on 8 July 2014 raising £500,000 before expenses.
The second tranche of 35,714,285 shares is due to be subscribed following announcement of the approval of EPL's Environmental Impact Assessment relating to planned operations at Kabwe. BMR expects this approval to be granted by no later than 31 August 2014.
31st July 2014
For further information:
Berkeley Mineral Resources Plc 020 7408 1181
Masoud Alikhani, Chairman
WH Ireland Limited 020 7220 1666
Chris Fielding, Head of Corporate Finance
Lothbury Financial Services 020 3440 7620
Michael Padley / Gary Middleton
For further information please see the Company's website at http://www.bmrplc.com
The Directors of Berkeley Mineral Resources accept responsibility for this announcement.