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(BMR.L) Berkeley Mineral Resources PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 18-12-09 | PRN |
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DOMINION ENERGY PLC
18 December 2009
Mr Masoud Alikhani, Chairman, made the following Statement: "In the year to 30 June 2009, the Company substantially reduced its overhead expenditure and as a result has been able to proceed with further exploration activity in Tunisia. Processing of new 2D and 3D seismic data for the Fawar permit has been completed at the end of June 2009 and for Mezzouna in September 2009. Progress has continued with the identification of new targets on both permits and the Company anticipates wells on both being spudded during 2010. Oil was only discovered in Tunisia in the 1960's and it offers political stability, an improving economy and sanctity of contract. Oil and gas industry leaders BP, ENI and Austria's OMV are among 55 companies, which include Dominion Energy, exploring for onshore oil and gas in the country. The State energy company ETAP estimates exploration expenditure has risen fourfold since 2005 to over US$400m in 2008. As well as the Company's prospects in Tunisia, it is now becoming increasingly involved in prospective projects located in the Persian Gulf and expects to announce progress on these in the first half of 2010". The directors of Dominion Energy Plc take responsibility for this announcement. For further information please contact: Dominion Energy Plc 0044 (0)20 7408 1181 Masoud Alikhani, Chairman ma@deplc.com St Helens Capital Partners LLP 0044 (0)20 7448 4400 Gavin Burnell
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| 18-12-09 | RNS |
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RNS Number : 3770E Berkeley Mineral Resources PLC 18 December 2009
BERKELEY MINERAL RESOURCES PLC ("BMR" or "The Company") AGM Statement At today's Annual General Meeting Masoud Alikhani, the Chairman of Berkeley Mineral Resources Plc, the AIM listed mining and processing company, made the following comments: "This has been a year when we transformed the business by entering the natural resources arena. It began by BMR entering into an agreement with Zincorous Investments Limited and Dorset Solutions Limited granting BMR the rights to process zinc and lead from certain waste material dumps at the Kabwe Mine in Zambia. "BMR secured its initial concession of dump 57 at the Kabwe mine in Zambia in July 2008 and followed that up with the securing of rights to dumps 22 and 23 in October 2009. In total, the Company has so far secured an asset base of 1,800,000MT of tailings to process, containing 125,000MT of metals with an estimated market value exceeding US$200 million. "Throughout the period, LME prices for lead and zinc have been rising due to a resurgence of demand, especially from China and the Far East where the automotive production industry is growing strongly. A report by BMO's Global Strategist Bart Melek has calculated that for lead the price improved by 180% and for zinc by 132% during 2009. "In putting together the plan to commence exploitation of its concessions, the Company has been conscious that the beneficiation plant to be upgraded and commissioned at Kabwe to produce concentrates needs to be scalable. "BMR is currently negotiating to secure rights to further adjacent dumps and to expand our operations with the addition of a pyrometallurgical facility. We expect to commence full scale operations in the second half of 2010. "The Company benefits from the existing infrastructure at Kabwe, including a processing plant, good roads, water supply, ample power, local labour and direct on-site connection to overseas markets via international railways to South Africa and to Indian Ocean ports "Overall, I am very pleased with the progress made. As well as striving to develop a profitable business we will also be contributing to the environment by planning to clean up a polluted area. "The Board would like to thank our shareholders for their continued support and our staff for their commitment which has helped the Company to achieve so much in the past year". All resolutions were duly passed. 18 December 2009 For further information please contact:
Seymour Pierce Limited
The directors of Berkeley Mineral Resources accept responsibility for this announcement. Notes to Editors BMR is a minerals company with a primary strategy of investing in tailings processing. By accessing 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. The series of high-grade replacement ore bodies were characterised by coarse sulphide mineralisation (sphalerite/galena) 1 of 2 bodies were characterised by coarse sulphide mineralisation (sphalerite/galena) surrounded by an oxidation halo comprising a variety of secondary zinc-lead minerals. 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 tons 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. BMR's project is part of an overall plan to re-assemble the Kabwe site into a single entity operating under a single Large Scale Mining Licence. BMR benefits from the existing infrastructure at Kabwe, including processing plant, good roads, water supply, ample power, local labour and direct on-site connection to overseas markets via international railways to South Africa and to Indian Ocean ports. This information is provided by RNS The company news service from the London Stock Exchange END
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| 26-11-09 | PRN |
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This news article is displayed preformatted as it may contain results tables
Dominion Energy PLC
("Dominion" or "the Company")
Results for the Year ended 30 June 2009
Dominion Energy PLC, a company principally engaged in the exploration of oil
and natural gas in Tunisia, North Africa, announces its results for the year
ended 30 June 2009, a period of significant progress in all areas of activity.
The following is extracted from audited information.
CHAIRMAN'S STATEMENT
During the period, Dominion progressed its exploration activities in Tunisia
and developed its participation in an Iranian project.
Tunisia: Fawar and Mezzouna exploration summary
Following the interpretation of the reprocessed data on the current permits and
the confirmation of the identified prospects and leads in the preliminary
evaluation of the blocks, 195km of 2D seismic data was acquired on the Mezzouna
permit and 236 km3 of 3D & 102km of 2D seismic data acquired on the Fawar
permit. The processing of the new seismic (2D and 3D) has been completed and
the evaluation of the hydrocarbon potential is underway. The objective is to
identify the best prospects to be drilled and the best reservoir quality
distribution predicted in the LMG-1 discovery well area (3D) in the Fawar
permit and the Mezzouna permit.
The processing of the new 2D and 3D seismic data was completed at the end of
June 2009 for the Fawar permit and at the end of September 2009 for the
Mezzouna permit. The results of the current evaluation are encouraging. The new
2D/3D seismic data in the Fawar permit showed, in addition to the tested
Jurassic reservoir in LMG-1 well, a deep promising Paleozoic target which could
be hydrocarbon bearing (The El Franig gas & condensate and Sabria oil fields
are located just to the south west of the Fawar permit border).
This new deeper play of Paleozoic age (Silurian & Ordovician) has been mapped
showing potential total in-place reserves of 432 million bbl of oil, 136
million bbls of condensate and 38 bcf of gas in the Fawar permit.
Five prospects were mapped in the eastern part of the Mezzouna permit, along
trend of the Chaal -1 and ABK-1 gas discoveries in the neighbouring Candax
permit, with total potential in-place reserves of 635million bbls of oil. Both
permits are being worked simultaneously to optimize the duration of the initial
exploration programme. This is in keeping with the Company's philosophy of
maximizing the chances of discovery and improving the recovery of the
hydrocarbons already discovered in the LMG-1 well in the Fawar permit while
keeping costs as low as possible.
The geological evaluation and geological models for both permits have been
integrated with the reprocessed seismic data.
In the present market conditions we expect the first well in the Fawar permit
to be spudded in the second half of 2010, with the second well in Mezzouna
drilled back to back.
The programme for 2010 will include continuation of interpretation of the new
2D and 3D seismic data, integrating the seismic interpretation and geological
evaluation results, reservoir evaluation and source rock modeling, which will
create the basis for refining prospect definition and most favourable well
locations in both blocks.
Additional state-of-the-art reservoir characterisation and modeling, especially
utilizing the 3D seismic data, will also be conducted for better assessing the
initial prospects and economic risk reduction.
Iran
Certain returnable deposits amounting to £1.38million (2008: £1.99million) have
been allocated to maintain participation in an Iranian project that we have
under consideration. Our assessments during the period with potential strategic
partners were positive and we have entered into the pre-qualification phase on
a project for which our share of the expenditure was £1.3 million (2008: £0.9
million).
In order to provide working capital, complete further work on the Tunisian
permits and continue to pursue the opportunities in Iran, the Company will be
required to raise additional funding. It has created several substantial
opportunities and is in negotiations with potential strategic partners to fund
the ongoing programme. At the present level of oil price of around US$80 per
barrel, there is strong interest from a number of parties.
Financial results
The Group results for the year show the loss of £209,067, in line with
expectations, compared with a loss of £428,676 for the previous year. The
results include salaries of oil and gas executives, overseas staff, costs of
consultants and administrative expenses of overseas and UK offices.
Administrative expenses include £31,000 (2008:£31,000) for undrawn remuneration
payable to the Company's directors.
Dominion is quoted on the PLUS Market under the code DOMP.
M Alikhani
Chairman
26 November 2009
Dominion Energy PLC
GROUP PROFIT AND LOSS ACCOUNT
for the year ended 30 June 2009
2009 2008
£ £
Administrative expenses (209,292) (428,719)
OPERATING LOSS (209,292) (428,719)
Interest receivable 225 43
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (209,067) (428,676)
Tax on loss on ordinary activities - -
LOSS ON ORDINARY ACTIVITIES AFTER TAXATION (209,067) (428,676)
Loss per share (0.095)p (0.195)p
The above results all relate to continuing operations.
The Board is not recommending the payment of a dividend in respect of the year
ended 30 June 2009.
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES 2009 2008
for the year to 30 June 2009 £ £
Loss for the financial year (209,067) (428,676)
Exchange differences on translation
into sterling of
net assets of subsidiary undertaking - -
Total gains and losses recognised in (209,067) (428,676)
the financial year
Dominion Energy PLC
GROUP BALANCE SHEET
as at 30 June 2009
2009 2008
£ £
FIXED ASSETS
Intangible assets 3,260,121 3,260,121
Tangible assets 6,169,876 4,802,606
Investment 16,250 5,000
9,446,247 8,067,727
CURRENT ASSETS
Debtors 1,426,753 2,037,905
Cash at bank and in hand 2,709 29,904
1,429,462 2,067,809
CREDITORS: amounts falling within (4,769,756) (3,820,516)
one year
NET CURRENT LIABILITIES (3,340,294) (1,752,707)
TOTAL ASSETS LESS CURRENT 6,105,953 6,315,020
LIABILITIES
CAPITAL AND RESERVES
Called up share capital 2,194,540 2,194,540
Share premium account 6,121,505 6,121,505
Profit and loss account (2,210,092) (2,001,025)
SHAREHOLDERS' FUNDS 6,105,953 6,315,020
The following is extracted from the auditors report:
`Emphasis of Matter - Going Concern
Without qualifying our opinion, we draw attention to the disclosures made in
note 2 of the financial statements concerning the Company's ability to continue
as a going concern which would depend upon obtaining additional financing to
meet the ongoing costs. This indicates the existence of a material uncertainty
which may cast significant doubt about the Company's ability to continue as a
going concern. The financial statements do not include the adjustments that
would result if the Company was unable to continue as a going concern as it is
not practicable to determine or quantify them.
For these reasons the Directors continue to adopt the going concern basis in
preparing the financial statements.'
The Directors of the Company accept responsibility for the contents of this
announcement.
For further information, please contact:
Masoud Alikhani
Dominion Energy PLC
3rd Floor, 19/20 Grosvenor Street, London, W1K 4QH
Email:ma@deplc.com
Tel: 020 7408 1181
Fax: 020 7408 1711
Website: www.deplc.com
St Helens Capital Partners LLP
Gavin Burnell
Tel: 020 7448 4400
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| 26-11-09 | RNS |
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This news article is displayed preformatted as it may contain results tables
RNS Number : 1238D
Berkeley Mineral Resources PLC
26 November 2009
BERKELEY MINERAL RESOURCES PLC
("BMR" or the "Company")
Preliminary Results for the Year ended 30 June 2009
Berkeley Mineral Resources Plc, the AIM listed mining and processing company, is pleased to announce its results for the year ended 30 June 2009. The results are in line with expectations, following the change in the direction of the business.
Highlights:
* Company now focused on metals processing and trading in Zambia
* Grant of rights to tailings dumps completed and planned exploitation under way
* Initial sales made during the year. Following the recent recovery in base metal prices, sales are expected to continue in the forthcoming period.
* Full scale operations scheduled to commence Q2 2010.
* Total current metal value of dumps is estimated to be in excess of US$200m
CHAIRMAN'S STATEMENT
Zambia
At the commencement of the period under review, BMR entered into an agreement with Zincorous Investments Limited ("ZIL"), a company registered in Zambia, and Dorset Solutions Limited ("Dorset"), a company registered in Switzerland, granting BMR the mining rights to process zinc and lead from certain tailings dumps at the Kabwe Mine in Zambia.
Subsequently, BMR has announced the acquisition of further mining rights and now possesses those rights to tailing dumps 57, 21 and 22 at Kabwe. Formal completion of the acquisition of rights to dumps 21 and 22 will take place upon receipt of relevant Certificates of Ownership from Zambia Consolidated Copper Mines (ZCCM) and other Zambian authorities, which are expected within the next month.
The estimated reserves in the dumps are as follows:
Dump 57:
Waeltz Kiln slag 1.24m tons
Grading 5.49% combined zinc-lead
Zinc equivalent 52,100t
Lead equivalent 16,100t
Dump 21 and 22:
Imperial Smelting Furnace (ISF) slag 588,000 tons
Grading 9.65% combined zinc-lead
Zinc equivalent 46,040t
Lead equivalent 10,701t
Total current metal value of dumps 57, 21 and 22 is estimated to be in excess of US$200m. The locations of the dumps appear on the Company's updated website at http://www.bmrplc.com.
According to the Company's latest projections, after refurbishment of the on-site gravitational and flotation plant, its Kabwe project should become cash-positive six months after starting production, which is scheduled for Q2 2010. This is based on selling concentrates grading 55% combined zinc-lead. There is established demand for this product in South Africa and Asian markets.
In accordance with the Zambian Government's Copperbelt Environment Project, BMR will be relocating the residues arising from its operations to an environmentally safe site.
In parallel with the granting of mining rights, BMR has entered into a management agreement, commencing immediately, pursuant to which ZIL and Dorset will provide a professional management team for the project for the period up to 1 April 2010 when full scale production is scheduled to commence.
Prior Activities - Voice quality market
The prior activity comprising software and patents has a residual value of £92,575 which we hope to realise.
Going concern
The convertible loan of £300,000 received in November 2007 from Quazer Group Corporation was converted into shares of 1p each in July 2008. The Zambian business represents an attractive opportunity and we have recently announced a placing of shares to raise an additional £170,000 working capital. The Directors are confident in their ability to obtain further finance as necessary to meet further working capital requirements.
Results for the year
The loss for the year ended 30 June 2009 amounted to £409,430 compared with a loss of £2,142,265 for the prior year. The overheads in 2008 included amortisation of intangible assets of £1,710,048.
Outlook
We have waited until base metal prices have staged a recovery before putting in place the next stage of development at our tailings processing business at Kabwe. We look forward to the commencement of production and are now in negotiations with potential off-take partners for the supply of zinc and lead concentrates.
Demand is increasing for both these metals, notably from the Asian automotive industries where China alone is forecast to manufacture in excess of 10 million vehicles annually in 2009 and beyond. At the same time, the pipeline of world base metals production set to come on-stream, especially of lead, is severely limited.
The outlook for the Company is now quite positive; we have acquired the rights to dumps containing significant amounts of metal, we expect to commence full scale production in April 2010 and we expect that the business will be cash generative shortly thereafter.
26 November 2009
M A Alikhani
Chairman
For further information please contact:
Berkeley Mineral Resources Plc Tel: 020 7408 1181
Masoud Alikhani, Chairman
Lothbury Financial Limited Tel: 020 70119411
Michael Padley / Ron Marshman
BERKELEY MINERAL RESOURCES PLC
INCOME STATEMENT
for the year ended 30 June 2009
2009 2008
£ £
Sales 167,718 -
Purchases (146,014) -
Gross profit 21,704 -
Administrative expenses (420,114) (2,115,150)
OPERATING LOSS (398,410) (2,115,150)
Finance income 829 129
Finance costs (11,849) (27,244)
LOSS BEFORE TAXATION (409,430) (2,142,265)
Taxation - -
LOSS FOR THE YEAR
(409,430) (2,142,265)
Loss per ordinary share - Basic and diluted (0.16p) (0.95p)
All recognised gains and losses have been included in the Income Statement.
All of the activities are continuing.
BALANCE SHEET
as at 30 June 2009
2009 2008
£ £
NON-CURRENT ASSETS
Research and development 92,574 182,574
Investment 40,000 40,000
132,574 222,574
CURRENT ASSETS
Trade and other debtors 27,670 9,300
Cash and cash equivalents 95 58,649
27,765 67,949
TOTAL ASSETS 160,339 290,523
CURRENT LIABILITIES
Trade and other payables (1,245,966) (1,266,720)
NET CURRENT LIABILITIES (1,218,201) (1,198,771)
TOTAL LIABILITIES (1,245,966) (1,266,720)
NET (LIABILITIES)/ASSETS (1,085,627) (976,197)
EQUITY
Share capital 10,009,771 9,709,771
Share premium 2,705,939 2,705,939
Merger reserve 1,824,000 1,824,000
Accumulated loss (15,625,337) (15,215,907)
TOTAL (DEFICIT)/EQUITY (1,085,627) (976,197)
Non-equity shareholders' funds 195,799 195,799
Equity attributable to the shareholders of (1,281,426) (1,171,996)
the Company
(1,085,627) (976,197)
CASH FLOW STATEMENT
for the year ended 30 June 2009
2009 2008
£ £
NET CASH OUTFLOW FROM OPERATING ACTIVITIES (347,534) (201,563)
INVESTING ACTIVITIESICING OF FINANCE
Interest received 829 129
NET CASH GENERATED FROM INVESTING ACTIVITIES 829 129
FINANCING ACTIVITIES
Interest payable (11,849) -
Loan received during the year - 300,000
Investments - (40,000)
Shares issued 300,000 -
NET CASH USED IN FINANCING ACTIVITIES 288,151 260,000
NET (DECREASE)/INCREASE IN CASH AND CASH (58,554) 58,566
EQUIVALENTS
Cash and cash equivalents at beginning of year 58,649 83
CASH AND CASH EQUIVALENTS AT END OF YEAR 95 58,649
NOTES TO THE CASHFLOW STATEMENT
2009 2008
£ £
Operating loss from continuing operations (398,410) (2,115,150)
Depreciation & amortization of fixed assets 90,000 1,740,421
Decrease in debtors (18,370) 108,144
Increase in creditors (20,754) 65,022
Net cash (outflow (347,534) (201,563)
Notes to the Preliminary Statement:
1. General information and accounting policies
Berkeley Mineral Resources PLC (formerly Tecteon PLC) is a company incorporated in the United Kingdom under the Companies Act 1985.
This Announcement is for the preliminary results for the year ended 30 June 2009.
2. Basis of accounting
The accounting policies for the preliminary announcement are consistent with those applied in the preparation of the audited financial statements for the year ended 30 June 2009 which have been prepared in accordance with the International Financial Reporting Standards (*IFRS*). The financial information has also been prepared in accordance with IFRS adopted for use in the European Union and therefore complies with Article 4 of the EU IAS Regulation. The audited financial statements for the year ended 30 June 2008 were prepared in accordance with IFRS.
The financial information has been prepared on the historical cost basis, except for certain financial instruments which are carried at fair value or historical cost and in accordance with IFRS.
3. Preliminary results for the year ended 30 June 2009.
The financial information presented for the year cover the period from 1 July 2008 to 30 June 2009. The comparative figures cover the period from 1 July 2007 to 30 June 2008.
Whilst the financial information for the year ended 30 June 2009 contained in this announcement has been computed in accordance with IFRS, this announcement does not itself contain sufficient information to comply with IFRS.
The preliminary report, for the 12 month period, which was approved by the directors on 26 November 2009, does not comprise full accounts within the meaning of the Companies Act 2006
4. The directors do not recommend the payment of a dividend.
5. The loss per share of 0.16 pence (2008: loss 0.95 pence) has been calculated on the basis of the loss of £409,430 (2008: loss £2,142,265) and on 255,882,097 (2008: 225,882,097) ordinary shares, being the weighted average number of ordinary shares in issue during the year ended 30 June 2009.
6. Statement of changes for in equity
the year ended 30 June 2009
Share Share Merger Accumulated Total
capital premium reserve loss
£ £ £ £ £
At 1 July 2008 9,709,771 2,705,939 1,824,000 (15.215.907) (976,197)
Net loss for the period - - - (409,430) (409,430)
Shares issued 300,000 - - - 300,000
At 30 June 2009 10,009,771 2,705,939 1,824,000 (15,625,337) (1,085,627)
7. Commitments
a) Under an Agreement for the mining rights to tailing dumps dated 8 October 2009, the
Company has contracted to issue 30 million ordinary shares of 1p each of the Company at a
price of 2p each, and pay £230,000 in cash for the mining rights to tailing dumps in the Kabwe
region of Zambia. The above total consideration of £830,000 is payable over a period of six
months ending 30 April 2010.
b) In parallel with the acquisition of the above mining rights, the Company has entered into a
Management Agreement with Zincorous Investments, a company registered in Zambia and
Dorset Solutions Limited, a company registered in Switzerland, collectively referred to as
DSL, which will provide a professional management team for the project up to 1 April 2010.
Under the Management Agreement dated 8 October 2009 the Company is due to pay DSL total
management fees of £240,000 which is payable over a period of six months ending 1 April 2009.
8. Copies of the published accounts of the Company will be sent to all shareholders before 27
November 2009 and will be available during normal business hours from the offices of Seymour
Pierce Limited at 20 Old Bailey, London EC4M 7EN. In addition, the accounts will be available
to be downloaded from the Company*s website at www.bmrplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR FEWSAMSUSEIF
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Maybe the fool is thinking that the intrims may be a week sooner because of Easter.
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| 11-03-10 |
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thinkhard,
"... You can carry on with your silly remarks if it makes you feel good ..." ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ thinkhard, may I suggest that you become true to your self-chosen username We can ALL post "empty predictions" and "non-information", but we don't ! Whilst it may take you only a minute of your time to post yours, do you ever thinkhard about all the wasted time other fellow posters up and down the country must waste reading your empty-of-substance postings. Do thinkhard about this ! Why do you do it ? I'm wanting_to_know |
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| 11-03-10 |
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Thinkhard
Reading the ten posts that you have made on iii I have come to the conclusion that you are just posting for reasons of ramping the share, my reason is that you have never provided any tangible substance in any of your ten posts. Having said that if there is an update by next Friday I will apologise but given that you will not provide any further guidance as to where you have obtained / found this information and your previous posts I must conclude that you are a troll in the making. Again I shall ask, please supply some info. |
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| 10-03-10 | ||||
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You're always "wanting to know", but will never know because you just can't find a way to know.
You can carry on with your silly remarks if it makes you feel good, I merely posted that there will definitely be results very soon as this is what I know, I didn't want to add further comments as I'm not too sure what is going to be released, therefore added that it was up to yourselves to judge on good or bad. I've read many useful posts on this board and gained alot of knowledge, only felt it was fair that posted what I knew. Did not expect all these slaps and kicks, anyway, good luck to all the honest investors here, hope the news to come is positive and good. |
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