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Company Information for Brinkley Mining Plc

Company stock charts - 12 Month chart

Exchange AIM; BRM


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Company Statement

Overview
Brinkley Mining Plc (‘Brinkley Mining’) was incorporated in London in August 2005 for the purpose of identifying and acquiring a strategic interest in uranium resource projects that the Directors believe hold significant development opportunities.

Strategy and Future Prospects
The strategy of the Company is to:

  • identify and consolidate mineral resources to establish an inventory of uranium with an initial mine life of 20 years or more, commencing in the Karoo Uranium Province of South Africa;
  • develop and operate regional processing facilities to process minerals, concentrates and other products mined or otherwise acquired by the Company in the region to produce intermediate products containing uranium for further processing including beneficiation in South Africa and elsewhere;
  • install and operate advances in process technology (industrial and environmental) to reduce capital and operating costs in uranium production, and recover other valuable metals from uranium minerals and concentrates for by-product revenues to position Brinkley as a long term producer in the lowest quartile of the cost curve;
  • provide for participation in the evaluation, development and operation of uranium mining projects by and for the benefit and economic empowerment of historically disadvantaged persons in South Africa; and
  • install and operate advances in environmental technologies and management to protect the health, safety and environment of employees and communities for sustainable development in the regions in which the Company operates.


Current Operations

Brinkley Mining – South African Project
Waterval
The Waterval uranium deposit, like most of the deposits in the Karoo, is a typical sedimentary sandstone-type deposit. This deposit was explored in the 1970’s by both Union Carbide Corporation and The Essex Mineral Company and in the early 1980’s by the Geological Survey. During these various phases of exploration two uraniferous outcrops were identified which form prominent cliffs varying in thickness between 4 metres and 24 metres. Approximately 150 previous holes on a 100 metre by 100 metre grid were drilled. The drilling encountered uranium mineralisation as shallow as 8 metres to 13 metres in depth and at an average thickness of 1.04 metres. The average grade was calculated to be between 1,690 and 1,820 parts per million ("ppm") uranium oxide (“U3O8“) and 910 ppm molybdenum (“Mo”).

SRK Consulting stated that based on the assumption that between 5% and 10% of the area underlain by uraniferous sandstone may be mineralised and typical mineralisation grades for Waterval, the magnitude of the total in-situ mineralisation that the Company is targeting in its exploration is likely to fall within a range of 11 million and 21 million pounds of U3O8 and between 5 million and 11 million pounds of Mo.

Other projects:

  • Rietkuil
  • Damsfontein-Bloemfontein Prospect
  • Flagfontein Prospect

Brinkley Mining - DRC Project
Since the Democratic Republic of Congo’s (“DRC”) cessation from Belgium in the 1960’s, the country has gone through an extended period of political and social unrest. However free and fair elections in 2006 elected President Kabila which signalled an end to the transitional government and the foundation of a new government which was announced in late February 2007 and sworn in during March 2007. Brinkley Mining believes that with an established government and its substantial mineral wealth, the DRC represents an excellent opportunity for the development of natural resources. However as with all emerging economies, political risk needs to be identified, mitigated and managed which the Company is actively focussing on.

Uranium and copper mineralisation occur in the Katanga Province in an approximately 300 kilometre long belt called the Lufilian arc. The uranium mineralisation occurs in two major forms. The first is an association with copper, cobalt and nickel in sedimentary type deposits commonly known as “Ore Shale”. The second is a typical vein hosted deposit; in the past it has been this type of deposit that has produced the most significant amount of uranium.

To date Brinkley Mining’s 70% owned subsidiary, Brinkley Africa Ltd (“Brinkley Africa”), has identified five areas in Katanga over which licenses are being applied for, however there is no assurance at this stage that these applications will be successful. Two of the areas have historical uranium resources. Once these have been granted an extensive exploration programme will commence, including airborne geophysical surveys, trenching and drilling.

Southern Sudan Project

The Company is progressing the applications for uranium prospecting rights in Southern Sudan. The geology of Southern Sudan consists of Precambrian Basement, with mineralisation associated with the many structural features in the area. Some recent reconnaissance exploration work has encountered radioactive readings at 5 to 6 times background. It is expected that late stage Pegmatite intrusions are primarily responsible for the uranium mineralisation in this area.


Geographical Spread

South Africa, DRC, Southern Sudan


Board of Directors and Key Management

DIRECTORS
Gerard Holden, (Executive Chairman)
Mr Holden joined the Company following a distinguished career with Barclays Capital. Mr Holden worked for the Barclays Group for over 20 years and in his role as Managing Director and Global Head of Mining and Metals has been instrumental in building Barclays Capital into a leading position in the Mining and Metals community around the world. He is currently the Non-Executive Chairman of Global Coal Management Plc.

Donald Strang, (Executive Director - Finance)
Mr Strang is a Chartered Accountant with over 15 years experience in financial management predominantly within the natural resources sector. He has previously held financial positions with several publicly listed mining companies (including Asia Energy Plc, now Global Coal Management Plc, Macraes Mining Company Limited and Perilya Mining Limited), Ernst & Young and in the investment banking sector. He is currently a non-executive director of Lonrho Africa Plc and Company Secretary for BDI Mining Corp.

Mr Richard John Linnell (Non-Executive Deputy Chairman)
Mr Linnell, aged 63, has been active in the resource sector for nearly forty years and has significant global experience in the development and marketing of resources and commodities. Richard has acted in management roles at Murray and Roberts Construction Group and Samancor, a joint venture between Billiton plc and Anglo American Corporation. He previously was responsible for Billiton PLC's exploration and development activities throughout Africa. Since retirement from a full role at BHP Billiton, he has been intensely involved in risk management in the African context and has interacted with the World Bank and its associates, the IFC and MIGA. Mr Linnell was the originator of the Bakubang Initiative, a Forum designed to revive the SA Mining Industry which lead to the establishment of the New Africa Mining Fund.

Clayton Dodd, (Non-Executive Director)
Mr Dodd is a Chartered Accountant by profession. He has over 20 years experience in finance and resources in Australia and overseas. He was previously Managing Director of Striker Resources NL, a diamond exploration company listed on the Australian Stock Exchange and is currently a director of Braemore Resources Plc and an alternate director of Atomaer Holdings Pty Ltd.

Zodwa Manase, (Non-Executive Director)
Ms Manase is a Chartered Accountant who is a member of professional bodies, the Independent Regulatory Board of Auditors (IRBA) and South African Institute of Chartered Accountants (SAICA). Ms Manase is the chairman of the audit committee of The Presidency of South Africa. She is also the chairman of the audit committee of a number of other entities that report to The Presidency, namely, Government Communication Information Systems (GCIS), the International Marketing Council (IMC) and the Media Diversity Development Agency (MDDA).

Kiran Morzaria, (Non-Executive Director)
Mr Morzaria holds an MBA from CASS Business School, and a B.Eng in Geology from the Camborne School of Mines. He is a member of the Institute of Directors and has considerable experience in providing corporate advice to several AIM traded companies and has experience in valuations, due diligence, capital raisings, joint ventures and reverse take-overs. He is Finance Director of AIM quoted resource company River Diamonds Plc as well as Non-Executive Director of Hot Tuna International Plc.

MANAGEMENT TEAM
Martin Hills, Exploration Manager, DRC
Zac Mashala, Projects Manager, DRC
Eddy Ngarambe Muzrai, Country Manager, DRC
Danie Pretorius, Exploration Manager, SA
Richard Jones, CSR Consultant

Company Address

Level 5
Arlington Street
London, United Kingdom SW1A 1RD

Telephone:+44 (0) 20 7016 5108
Facsimile:+44 (0) 20 7016 5104
Email:info[at]brinkley-mining.com
Website:http://www.brinkley-mining.com

Additional Address/Key Contact

Investor Relations 
Bruce Stewart
T: +44 (0) 207 016 5108

Annual General Meeting

January

Year End

31 December

Nominated Brokers

Arbuthnot

Nominated Advisors

Beaumont Cornish Limited

Broker/Analyst Reports

16/11/06 - Brinkley Mining, Nuclear Reaction, Arbuthnot

Major Shareholders

Atomaer Holdings Pty Ltd 65,400,000 18.36%
Deutsche Bank AG 46,469,411 13.04%
RAB Special Situations (Master) Fund Ltd 31,520,524 8.85%
UBS 30,000,000 8.42%
Totalserve Trustees Ltd atf Narina Trust 45,000,000 12.63%
L-R Global Partners L.P. & L-R Global Fund Ltd 21,992,768 6.17%

Related News

26/11/07 - Brinkley Mining Expected To Bring On A New Management Team And New Assets
24/09/07 - Brinkley Mining Maintains Pressure For Its Joint Venture With CGEA In DRC

Most Recent Statement

30/05/08 - PRELIMINARY RESULTS
15/05/08 - Grant of Niger Exploration Permit
30/04/08 - Southern Sudan Provisional License
03/04/08 - Board Change
12/02/08 - Waterval Project Resource Calculation/Update on Uranium Projects
25/01/08 - Damsfontein / Bloemfontein Prospecting Rights

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