OTC Bulletin Board

S & P Company Insight for BEKEM METALS INC

Business Summary: Bekem Metals, Inc. explores for nickel, cobalt and brown coal in the Republic of Kazakhstan. Through subsidiaries, it holds the rights to the Kempirsai nickel, cobalt and brown coal deposits in northwestern Kazakhstan, and the Gornostai nickel and cobalt deposit in northeastern Kazakhstan.
  170 Tchaikovsky Street 4th Street
  Almaty 050000
  Phone: 7.3272.582.386
  Website: http://www.bekemmetals.com
  Salt Lake City , UT
Transfer Agent
  Interwest Transfer Co. Inc.
Employees:  259
Founded:  2001
Domicile:  Utah

Bekem Metals, Inc. explores for nickel, cobalt and brown coal in the Republic of Kazakhstan. Through subsidiaries, Bekem holds the rights to the Kempirsai nickel, cobalt and brown coal deposits, which are located in northwestern Kazakhstan and the Gornostai nickel and cobalt deposit located in northeastern Kazakhstan. The primary asset of Kaznickel is an exploration and production concession issued by the government of the Republic of Kazakhstan which grants Kaznickel the exclusive right, through February 2008, to explore for nickel, cobalt and other minerals in a 12,232 acre area in northeastern Kazakhstan known as the Gornostayevskoye (Gornostai) deposit. The concession further provides that if Bekem makes a commercial discovery of nickel, cobalt or other minerals within the concession territory, it can apply for and receive the exclusive rights to commercially produce and sell nickel and cobalt ore through February 2026. Founded in 2001, Bekem Metals maintains its headquarters in Almaty, Kazakhstan.
History:  INCORPORATED in Utah Jan. 31, 2001, as EMPS Research Corp.; name changed to Bekem Metals, Inc. Mar. 16, 2005, following the acquisition of Condesa Pacific, S.A. and its wholly owned subsidiary Kaznickel, LLP on Jan. 28, 2005. The company acquired 100% of the outstanding capital stock of Condesa for 35,000,000 Common shares. Condesa was incorporated in the British Virgin Islands on Mar. 5, 2004. October 24, 2005, acquired Kazakh Metals, Inc. for 61,200,000 Common shares.
Condesa Pacific, S.A.
Kazakh Metals, Inc.
Kaznickel, LLP
Kyzyl Kain Mamyt LLP
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  1,056
  2006  2,578
  2005  16
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  296
  2006  390
  2005  132


 Marat  CherdabayevPresident & Chief Executive Officer
 Yermek  KudabayevChief Financial Officer & Investor Relations Contact
 Nurlan  TajibaevVP

 Timothy  Adair
 James  Kohler
 Valery  Tolkachev
 Nurlan  Tajibaev
 Marat  Cherdabayev
 Annual Report

Annual Report
Income Statement
Operating Expenses
General and administrative expenses4,646,9134,219,131
Research and development costs240,832296,070
Exploratory costs1,042,2463,192,177
Loss from impairment of property 9,481,4361,043,720
Accretion expense on asset retirement obligations89,46079,288
Grant compensation expense585,745428,935
Loss From Operations(16,086,632)(9,259,321)
Other Income (Expense)
Interest income221,084324,976
Other income487,53397,391
Interest expense-(1,018)
Translation adjustment38,604(255,752)
Exchange loss(9,564)(64,280)
Net Loss Before Minority Interest and Taxes(15,348,975)(9,158,004)
Deferred tax benefit-456,454
Net Loss(15,348,975)(8,701,550)
Basic and diluted loss per common share (0.12)(0.07)
Balance Sheet
Current Assets
Trade accounts receivable58,2384,048
VAT recoverable301,447269,087
Note receivable from related party15,066,328-
Prepaid expenses and other current assets116,203118,847
Deferred compensation351,779483,766
Total Current Assets16,747,4491,919,931
Property, plant and mineral interests4,421,17114,226,359
Non-current deferred compensation109,011225,351
Other assets61,15678,996
Total Assets21,338,78716,450,637
Current Liabilities
Notes payable to related parties19,668,792-
Accounts payable370,535423,776
Accrued expenses320,142237,142
Advances received59,562257,689
Due to related party6,051791
Total Current Liabilities20,425,082919,398
Deferred tax liabilities -
Asset retirement obligation1,455,4231,039,048
Common stock; $0.001 par value125,172124,750
Additional paid-in capital28,540,23528,203,239
Accumulated deficit(30,272,874)(14,923,899)
Accumulated other comprehensive gain (loss)1,065,7491,088,101
Total Shareholders Equity(541,718)14,492,191
Total Liabilities and Shareholders' Equity21,338,78716,450,637
 Interim Report

Interim Report   
Data Not Available
 Pro Forma Report

Pro Forma Report   
Data Not Available
 Quarterly Report

Quarterly Report Information   
Quarterly Revenue, US$
  2007   1Nil
  2007   240,000
  2007   3Nil
  2007   Full Year Nil
  2006   3Nil
  2006   Full Year 110,000
  2005   Full Year 150,000
Quarterly Net Income, US$
  2007   1(1,160,000)
  2007   2(1,310,000)
  2007   3(1,300,000)
  2006   3(2,080,000)
  2006   Full Year (4,587,900)
  2005   Full Year (2,091,000)
Quarterly EPS, US$
  2007   1(.01)
  2007   2(.01)
  2007   3(.01)
  2007   Full Year (.07)
  2006   3(.03)
  2006   Full Year (.04)
  2005   Full Year (.02)
 Stock Data

Capitalization as of 03/31/2009:
 Authorized SharesOutstanding Shares
Preferred $0.001 par20,000,000None
Common $0.001 par150,000,000125,172,011
Common $0.001 par
Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT
OTC Bulletin Board( Primary): BKMM
OTC Bulletin Board20090.35000.0100
OTC Bulletin Board20081.90000.0100
OTC Bulletin Board20072.00000.5100
OTC Bulletin Board20062.00001.7500
OTC Bulletin Board20055.50002.1000
OTC Bulletin Board20043.50000.5000
DIVIDENDS: Common $0.001 par: None.