Berkeley Mineral Resourceswww.bmrplc.com TICKER: BMR EXCHANGE: AIM
Berkeley Mineral Resources is a mineral processing company. It is currently engaged in a single project, the extraction of lead, zinc and other minerals from above-ground tailings and slag Dumps at the Kabwe mine in Zambia. The company was effectively a cash shell when the present chairman Masoud Alikhani became involved in 2007-2008, resulting in a change of direction and name. In addition to its activities at Kabwe, BMR has signed an M O U with Ngwena Mining Resources under which it could acquire 76% of the copper tailings from the former Roan Antelope mine at Luanshya, 145 km north of Kabwe. The Kabwe Zinc and Lead Mine was in operation from 1906 until 1994 and produced around 2.6m tons of zinc and lead in the 90 odd years of production. The tailings dumps which still exist at the site are rich in residual base metals.
Acquiring a substantial stockpile resource
Included are wash plant tailings capable of providing cash flow this year
Fair value, unrisked, seen at 8.1p / share versus current 2.3p level