BMR Mining Share Discussion Threads

[wiggle1] 16/2/2018 10:14

Yup, we are !

[fireball xl5] 16/2/2018 09:24

Our intrepid reporter:

Zambia shuts Kabwe lead mine …….’amid some administrative procedures’

Scavengers of the of lead and zinc are now victims of various ailments

Feb, 8 (Zambia Informer) ----- Enviro Processing Ltd., the Kabwe based mine, a subsidiary of London alternative market-listed Beverley Mining Resources Group, planned to revive production of lead and zinc, has been shut down by Zambian authorities, it has been learnt.

It is not clear why the mine, barely two years after acquiring its approval to start production of lead in Kabwe and holder of a Small Scale Licence, 7081-HQ-SML in respect of the tailings on Stand 5187, has been shut.

There was no immediate comment from ministry of mines, Zambia Environmental Agency (ZEMA) on the matter. But EPL general manager, Geoff Carson, when contact from Kabwe by phone, Thursday, confirmed the operational shutdown but declined to provide details.

“Yes, we are not operating at the moment…..we have no further comment right now,” he said while referring to the ministry of mines. However, sources close to the project cite the company’s failure to adhere to some regulations stipulated by the Zambia’s mining authority of what is required of small scale mines to adhere to.

Two years ago, BMR Ltd., the owners of the unit had pledged to set aside about US$100,000 for environmental protection amid concerns of lead and zinc pollution in the former mining town after the stoppage of operations by the Zambia Consolidated Copper Mines (ZCCM) conglomerate.

On 26 February 2016, EPL was given a go ahead to start operations at the site, with management besides pledging to drastically end lead pollution among the neighbouring townships, Makululu, Chowa, Kasanda, among others, had pledged to create employment for 330 Zambians at inception.

According to experts, Kabwe is rated among the top 10 highly polluted towns in the world and it is envisaged the involvement of the World Bank with has ploughed in US$66 million for environmental control over lead will help matters, the mineral having affected the residents.

Key among the ailments, according to a baseline study, many Kabwe resident suffer or have continued suffering from arising from lead pollution include abnormal birth of children, with adults facing severe respiratory problems, having inhaled lead for a long time-since the early 1900 when mining started in the Central provincial town, 150 kilometers from Lusaka.

[fireplace22] 15/2/2018 13:28

Not quite. But maybe.

[wiggle1] 15/2/2018 13:26

We're f*c*ed !!!!!

[fireplace22] 15/2/2018 12:34

It's suspended!

[wiggle1] 12/2/2018 14:46

Yeah, with head office in Kensington, don't think they care about much but making money for themselves. Flat lining like this normally spells bad news...

[poombear] 12/2/2018 14:06

Maybe Jubilee should just take BMR out. Less of a liability.

[fireplace22] 09/2/2018 16:14

taken from proactiveinvestors:

Our view: Our understanding is that following this unexpected news, Jubilee's management has had positive communications with the Zambian mining ministry. The ministry is now aware of Jubilee's commitment to Kabwe as well as Jubilee's metallurgical expertise and strong funding position. The funding capability of Jubilee (cash generation from South Africa and $50m facility) is probably the most important. Jubilee has now committed to developing Kabwe and although there is no guarantee, we believe this problem will be resolved. It is difficult for us to make a recommendation. However, following discussions with Jubilee's CEO this morning, who said the Zambian ministry is engaging positively and we are confident, we are encouraged and look forward to the next update. A meeting with the ministry is now scheduled for next week in Zambia.

[osammyboy2] 09/2/2018 15:57

Yes,down the pan and looks like they'll take JLP with them

[wiggle1] 09/2/2018 14:49

Bet Smelly's gutted like the rest of us that have lost a sh*t load on this. whilst the management have pocketed a fortune !!!

[janekane] 09/2/2018 13:28

Another Aim company down the pan

[fireplace22] 08/2/2018 19:25

Is QS, Mr Very Angry Bear?

[bullster] 08/2/2018 12:31

wrong thread

.
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[kryptonsnake] 08/2/2018 12:02

Also smelly that JLP never knew about it?

[poombear] 08/2/2018 11:53

Something smelly there regarding not informing the market or JLP that they had notice back in September.

[sleveen] 08/2/2018 11:33

Shareprophets view:

[red rook] 07/2/2018 17:02

I think that with JLP's support, as they have indicated in their RNS, this will be sorted out.

If one could say anything positive, it is that this will give a 'kick' up their collective asses to get a move on. First with finalising the deal, presenting the development plan, and then implementing it !

I would hope that for the good of the company, AB sees the light and moves out of the top post and a new credible CEO appointed. This would give the market and PIs much needed confidence going forward.

Finally, I would suggest that AB should keep the shares in suspension until all the above is sorted out first, otherwise there will be a unnecessary slump in the share price after opening.

[osammyboy2] 07/2/2018 15:45

They've all had their fingers burnt!

[poombear] 07/2/2018 14:48

Better pull their finger out then

[poombear] 07/2/2018 14:09

FB I think I was recalling when Zambia made everyone reapply for their licenses some years back.

[poombear] 07/2/2018 14:06

Maybe Jubilee will have to buy the lot.

[poombear] 07/2/2018 14:05

This look pretty terminal. Have they not paid their license fee?