BMR -

[hxbro]

SP just jumped, 7p buy went through....

[Undertaker]

hxbro

RNS will come after hours if deal is done...

lets just say Masoud agrees with me that this is best time, friday after market close

if rumours are true then either friday today, or next friday

[hxbro]

next friday would make sense, the rumour said 5 working days (assuming yesterday) would put us around friday next week. Might open a t20 if the price is right next week and the news doesn't arrive sooner...

[hxbro]

7p to sell, building up nicely this morning

[hxbro]

Strong finish, watched level 2 and the MM's just kept upping the price, last sale was a 7.50p!

Need to see an RNS tomorrow or this will drop quickly.

[Undertaker]

I have had confirmation now that the deal is very much on

Sable have applied for the transfer of the license to BMR via a 3rd party. This info comes straight from the ministry of mines in zambia

Trust me on this one

my guess is an after hours RNS on friday

[hxbro]

someone posted something similar on iii.

The question is, have applied for, or have transferred. The rumour was it was started back in Jan, and it'd take 60 days. Last week someone said it had transferred to Dorset and would take 5 days for the transfer to BMR.

I hate for it to be applied for, that's another 60 days down the line... and I'd probably cut my loses and dump it on range then re buy when the bmr price is back in the 5's to recover the loses.

[Undertaker]

i'll try and get more info out,

will get back to you.... hope it's not 60 days otherwise it's going to drop

[hxbro]

Good news, I've sold out, so the RNS will come tomorrow

[hxbro]

Half yearly results are due soon anything from next Monday onwards is likely, I might buy back in on Friday with a small amount, I would expect an update with them so we will know what's going on finally!

[hxbro]

IS that an RNS I see!

RNS Number : 6854D
Berkeley Mineral Resources PLC
28 March 2011



BERKELEY MINERAL RESOURCES PLC
("BMR" or "The Company")


AGREEMENT TO ACQUIRE KABWE TAILINGS DUMPS SIGNED


Following the update issued on 13 December 2010, Berkeley Mineral Resources Plc, the AIM listed company that is primarily engaged in processing mining tailings, is delighted to announce the signing of a definitive agreement for the acquisition of the remaining stockpiles of lead and zinc tailings at the Kabwe Mine, Zambia (the 'Acquisition').

The Acquisition is being effected by the acquisition by BMR from NLL Minerals Limited of Enviro Mining Limited ("EML"), a private company which, at completion, will own, either by itself or through its subsidiary companies:


1. The Leasehold rights and title in and to Stand 5187 containing the stockpiles at Kabwe until 30 June 2075.

2. The contents of all the tailings dumps included in Stand 5187 and Dump 57.

3. The Small-Scale Mining Licence relating to Lead, Zinc, Copper and Cobalt minerals for a period of 10 years from 20 October 2010, renewable thereafter. This Licence allows the Company to process the tailings without restriction on volume.

4. Access Rights to enable BMR to develop Dump 57.


The dumps acquired cover an area of about 1km² and are illustrated in the Plan on the BMR website at http://www.bmrplc.com/projects/resources.


Completion is conditional, inter alia, on finalisation of due diligence by BMR, on EML completing its acquisition of certain relevant assets and the transfer to BMR of the Small-scale Mining Licence. Completion is due when the Conditions Precedent have been satisfied. BMR has two months from the signing of the agreement to complete its due diligence prior to Completion.

The aggregate purchase price for EML, payable at completion, is US$2.5 million in cash, plus, at the vendor's option, the issue of 80 million shares in BMR (at an effective issue price of 6p per share) or a further cash payment of £4.8m or a combination of cash and shares.

Subject to satisfactory due diligence, BMR will settle the purchase price at the time of Completion.


Existing infrastructure

The site benefits from the existing infrastructure at Kabwe, including good roads, water supply, ample power, local labour and direct on-site rail connections to overseas markets via international railways to South Africa and to Indian Ocean ports.


Phase one: the wash plant slimes dumps

The wash plant slimes dumps include residue historically produced at Kabwe prior to its closure through the washing of concentrates. Because of the high combined grade of lead and zinc at 17.83%, this section of tailings is believed to be readily saleable without further processing.

The Mineral Corporation has produced for BMR a mineral resources estimate for the wash plant tailings. The report was prepared by Mr. D R Young (BSc. Hons., Geology), who is a Competent Person as defined by the JORC Code (2004), being registered as a Professional Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP), with more than five years experience relevant to resource estimation .

JORC Mineral Resource estimates on Pb and Zn for the Kabwe Wash Plant Tailings

Mineral Resource
Class
Volume (m3)
Dry Bulk Density (t/m3)
Average Moisture Content
Pb (%)
Zn (%)
Wet Tonnes
Dry Tonnes
















Measured
267,426
1.92
16.61%
7.38
10.45
586,769
503,189


Phase two: the stockpiles of residue leach-plant tailings dumps

BMR has not yet completed its drilling and assays programme to provide a JORC compliant mineral resource estimate for the remainder of the leach plant dumps at Kabwe. Historical estimates of the leach plant material in the dumps acquired are in excess of 6 million tonnes. All historic estimates are, however, not JORC compliant and have not been verified at this time and should therefore not be relied on as such.

The Company is intending to retain a leading tailings treatment organisation to design, build and operate a new beneficiation plant at Kabwe to process the stockpiles.

Exercise of warrants

To allow the Company to target other acquisitions, one of which is at an advanced stage of negotiation, the Company induced the exercise of 52,083,334 warrants at an exercise price of 6p per share being at a discount to the original exercise price in respect of those warrants of 9p per share (the 'Warrant Exercise'). By this, the Company has raised £3.125m in cash.

The potential acquisition, which is significant in scale, is in Zambia and primarily comprises copper tailings, for which extensive data exists. Discussions continue to progress well.

In consideration for the Warrant Exercise and in addition to agreeing to reduce the exercise price to 6p per share for the Warrant Exercise, the Company has agreed to lower the exercise price to 6p per share in respect of a further 127,916,666 outstanding warrants owned by the exercising warrant holders, although the final exercise date for such warrants has been brought forward from 24 November 2012 to 24 April 2012 (the 'Outstanding Warrants').

In addition to the Outstanding Warrants, there remain 8,571,428 outstanding warrants over shares in the Company, each with an exercise price of 9p per share.

Application will be made for the admission to trading on AIM of 52,083,334 new ordinary shares and admission is expected to occur on 31 March 2010 when the enlarged issued share capital of the Company will total 862,709,792 Ordinary Shares (the "Enlarged Share Capital"). The new shares will rank pari passu with all existing Ordinary Shares in the capital of the Company.
Following the Warrant Exercise, the above figure of 862,709,792 Ordinary Shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Berkeley Mineral Resources under the Financial Service Authority's Disclosure and Transparency Rules.


Masoud Alikhani, Chairman of BMR, commented:

"We are very pleased to have finally concluded negotiations to conditionally acquire the remaining dumps at Kabwe. BMR can now complete the verification of the leach plant dumps to JORC standard, commission the beneficiation plant and proceed as soon as possible to commence supplying the lead and zinc which are currently in high and increasing demand on world markets.

The exercise of the warrants has allowed BMR to potentially fund another acquisition and also to fund due diligence on a number of potential further acquisitions at minimal dilution to shareholders".


This release has been reviewed by Mark Wainwright MA (Cantab), MBA, a director of BMR, in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies.


28 March 2011

Contacts:

Masoud Alikhani, Chairman, Berkeley Mineral Resources 020 7408 1181

Jonathan Wright, Seymour Pierce 020 7107 8000

Michael Padley / Gary Middleton, Lothbury Financial Services 020 7868 2010



Notes for Editors

BMR is a minerals company with a primary strategy of investing in tailings processing. By accessing above-ground dump deposits with known grades and metallurgy, it avoids exploration or mining costs, has a secure licence and fixed environmental criteria, and can produce concentrates according to viability at current market prices.

The Kabwe deposits, located approximately 110km north of the Zambian capital Lusaka, were discovered in 1902. From 1906, Kabwe was a significant mine. By the time it closed in 1994, due to depletion of the massive sulphide mineralisation and lowered metal prices, it had produced about 1.8m tonnes of zinc, 800,000t of lead, 7,800t of vanadium pentoxide and lesser quantities of cadmium, silver and copper. After closure, most of the mine complex was sold off on a piecemeal basis. Berkeley's project is part of an overall plan to re-assemble the Kabwe dumps site into a single entity operating under a single Small Scale Mining Licence.


For further information please see the Company's website at http://www.bmrplc.com


ENDS

This information is provided by RNS
The company news service from the London Stock Exchange

END

AGRLLFIDVFIEFIL

[Undertaker]

Finally,

lots of future potential, de risked now.

Lets see what the next few weeks bring

[hxbro]

Lots of buying today, be interesting to see what comes out of tomorrow if there's anything new with the half yearly report, a JORC would be nice

[hxbro]

Not holding BMR, but there's rumours about the diligence has been completed which is pushing the SP today like it used to on "rumours at the end of the week" previously.

[hxbro]

RNS out detailing the copper acquisition, looks good on paper, they have till end of june to complete it.

[hxbro]

T20 opened, didn't realise I had enough available to do a worthwhile investment after yesterdays t20 with RRL

Takes me through to the 3rd June, providing no delays we should have one of the deals signed by then, hoping to close it on a peak, and open another to carry me to July for the other deal, with any luck, I should walk away with a nice sum of cash with no initial outlay

[hxbro]

BERKELEY MINERAL RESOURCES PLC

("BMR" or "The Company")

Proposed placing and acquisition

Berkeley Mineral Resources Plc, which is primarily engaged in processing mining tailings, announces that it has entered into an underwriting agreement ("Underwriting Agreement") with Novum Securities Limited ("Novum") pursuant to which Novum has agreed to seek subscribers for 145,000,000 new ordinary shares in the capital of the Company ("Placing Shares") at a price of 4p per share ("Placing Shares"). Pursuant to the terms of the Underwriting Agreement, the Placing Shares have been subscribed in full by a single large UK financial institution. In addition to the Placing Shares, the Company will issue one warrant for every two Placing Shares subscribed, exercisable at 6p per warrant at any time up to three years from issue.

The Underwriting Agreement has been entered into in connection with the possible acquisition by the Company of a business located in Zambia for which the Company is currently seeking preferred bidder status ("Proposed Acquisition"). There can be no certainty that the Proposed Acquisition will proceed and further announcements will be made in due course if appropriate.

The Underwriting Agreement is conditional, inter alia, on the Proposed Acquisition having become unconditional in all respects save as to any obligation with regard to the payment of consideration and the admission of the Placing Shares to trading on AIM (which must occur prior to 8.00 am on 11 July 2011 or if Novum agrees to waive or extend time for fulfilment of such conditions, not later than 8.00am on 16 July 2011) (the "Long Stop Date").

Novum may at any time waive the conditions in the Underwriting Agreement (save for the condition relating to Admission to trading on AIM) and as a result the Placing Shares may be issued in full or part at any time prior to the Long Stop Date.

Masoud Alikhani, Chairman of Berkeley Mineral Resources Plc, commented:

"The potential acquisition will advance the Company's plans by 10 months, thereby transforming its prospects. Combined with the agreements that we have in place at Kabwe, which we expect to finalise shortly, and Luanshya it will further enhance BMR's near term future".

This sounds like they are purchasing a plant to process with rather than the 10-12 month to build one.

I'm not too happy with the placing at 4p, that's a significant discount to me from the 6.2p it was at.

On the other hand, it should mean once the deals are finally completed it should make a quick turn around on money coming back in as processing can start sooner.

I've only got a small amount on a t20 till the start of next month so I'm going to keep tight, plenty more time this month to see it rise back up again after today.

I feel sorry for long term holders, the placing price must be like a kick in the teeth.

[Undertaker]

it's coming back to 6p anyway so not too bad.

keep an eye on qsmelly's post on advfn, he is one of the ii's.


closed at 6.25 yesterday and currently at 5.87p so it isn't as bad as it seems and $5.8million is needed urgently for a reason.

Could it be the sable's copper processing plant? Could it be that BMR also take on the staff at sable? Only time will tell but would like BMR to be more transparent

[hxbro]

7p - if the rumours are true, news is imminent.

Wish I'd have bought BMR the other day instead of EUA, a 20% rise would have done me nicely, but still, if the deal comes through I have my t20 to bring in a bit of extra

[Undertaker]

I have feeling that although DD will be complete for kabwe by the 24th, the deal won't be.

I base this on the wording of an email I got from MA,

not selling and staying invested but this is really testing my patience, the deal should have been months ago.

PS : check out Sea Energy - SEA....