28th Sep 2015 07:00
BMR Mining PLC ("BMR" or the "Company")
Land and equipment lease agreement
The Board is pleased to announce that on 25 September 2015, BMR entered into an agreement with Sable Zinc Kabwe Limited ("Sable Zinc"), a subsidiary of Glencore, in respect of land adjacent to BMR's tailings dumps and certain key items of equipment.
The agreement, which has an initial term of 12 months, provides for the lease by BMR, at a cost of US$1,000 per month, of a concrete apron on which BMR proposes to site its proposed Pilot Plant, and related equipment, including a 300m3 partially rubber lined reservoir suitable for the storage of re-cycled water, three 90m3 rubber lined leach tanks, a 60m3 rubber lined clarifier and rake mechanism, and a filter press. The agreement also covers use of Sable Zinc's sulphuric acid storage facilities and office and additional storage space.
Alex Borrelli, Chairman of BMR, commented:
"This is a particularly valuable agreement for BMR as it provides us with access to prime space for our pilot plant and access to good quality equipment which we would otherwise have had to purchase, and most likely transport to Kabwe.
"We are refining the costing of the Pilot Plant, in light of recent changes which have enhanced the quality of the output, and will provide a further update in due course."
Contacts:
BMR Mining PLC 020 7734 6252
Alex Borrelli, CEO and Chairman
WH Ireland Limited 020 7220 1666
Chris Fielding, Head of Corporate Finance
Related Shares:
Berkeley Mineral Resources