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Berkeley Minerals (BMR)     

3 monkies - 19 Jan 2011 14:05

Has anybody heard when Berkeleys paper work is going to be signed, thought it was going to be at the beginning of January or have I got it wrong? Just wondered if anybody may have heard something as all has gone quiet on this one.

gibby - 20 Jan 2011 17:53 - 5 of 6

you are welcome - that makes 2 of us!! gl

gibby - 23 Jan 2011 21:27 - 6 of 6

well well, bmr gets more interesting - apparently there will be rare earths in addition to what is known that the tailings already contain - good strategy here: there is no need to dig expensive mines when you can just filter through the tailings of a former mine.

Now that the prices of these metals, lead and zinc, are much higher, it makes excellent commercial sense to go over these huge tailings (mine rubbish dumps) and remember rare earths were not even understood when these vast African mines were being dug last century. There are also very good prospect of silver also.

BMR now have contracts to 3 dumps at Kabwe and are awaiting news on the fourth and biggest. Estimated minimum revenue on the first three are c. $140 million (est. profit $53 million). With the fourth dump this could add another $150 million in revenue over the 11 year contract with profit at a similar or better ratio to the first 3.

In addition to this bmr are expecting a JORC report on exactly what these tailings contain and also news on other mine sites in Africa that bmr will be working on et cetera et cetera

roll on final signing of contract somewhere between 10p - 20p - other news jorc / tailings updates / upgrades, 40p upwards as time and new marches on imo

kerrrchinnnnngggg!! again!
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