BMR Mining - BMR Stream Log

Environmental Permitting Process The Company commenced its EIA studies and approval processes in 2009 with a public consultation meeting attended by over 130 people. Initial terms of reference for the EIA were submitted to the ZEMA for review and were approved in November 2009. Baseline studies were subsequently undertaken during 2010 and 2012 to establish positive and negative impacts from the proposed development and to provide enhancement and mitigation through management plans. A Public Disclosure meeting to inform stakeholders about the EIA findings was conducted on site in September 2012 and was attended by 95 people. This allowed further local community concerns to be taken into consideration prior to the submission of a first draft EIA to ZEMA at the end of 2012. After consultation with ZEMA a final EIA submission was made in May 2013 with the accompanying fee of approximately $US74,000. ZEMA requested additional information specifically in the areas of, water balance, HIV/Aids management, surface rights, assessment of adjacent settlements and a groundwater assessment. This further information was submitted in the form of an addendum to the EIA in July 2013. At a Public Hearing, requested by ZEMA, held at the site on 30 August an estimated 150 people gave their unanimous support for project development. In their letter dated 15 October 2013 ZEMA confirmed that they had formally approved the Company’s EIA. The principle conditions attached to the decision are that the Company re‐settle 4 families living in close proximity to the proposed processing plant and that Luiri provide an alternative borehole water supply to the Zambia Air Force base. The Company has already commenced the process of discharging these, and other minor conditions. In addition, ZEMA also stipulate that the project shall be implemented within 3 years from the date of the approval.

Bugle I think MA knew about it all along and has been working on it for several years. Check out luiri gold

Surely MA must have known all along about the ZEMA process. My opinion is that it was kept from pi's to keep them strung along. Maybe other investors knew and thats why the price fell from 5p the last time round with many pulling out at that stage. Seems something else has spooked them with this 25%+ drop from 2p. When the interims are published then I think we could be in for another big suprise. All IMO of course.

ljc, you have been claiming for a long time that the 'Chinese' are stake building here, so to take a further chunk of BMR surely they will be looking for a decent discount in today's SP? Do you think that this could pave the way for delisting as one possibility?

Pel warrants are dilution as are directors share incentives etc. I dont think there will be a placing but could be % of the company taken by the chinese??

Bugle, surely he has no choice now? It's bizarre that the ZEMA process has come as a surprise to him and his team, so perhaps he anticipated not having to drop this bombshell before approval. Maybe he will feel that he can 'deliberately mislead PIs' further, as suggested by Ritter and Razor?

Pel, the existence of the Flat Earth Society proves that everyone is entitled to an opinion...even your cheerleading captain says that dilution will happen!

everyone is entitiled to an opinion, In my universe I wouldnt be spending every working hour of my day on a board I am not invested in.

Schad, If he gives us an outline and state of play when the interims are published then its not going to be very pretty

Oh my word...you must be existing in the same parallel universe as Ritter and Valencia!!!!