UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of Report (date of earliest event reported):
December 17,
2007
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BEKEM METALS, INC.
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(Exact Name of Registrant as Specified in its
Charter)
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Utah
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000-50218
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87-0669131
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(State or other jurisdiction of
incorporation)
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Commission
File Number)
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(IRS Employer
Identification Number)
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170 Tchaikovsky Street, 4
th
Floor, Almaty,
Kazakhstan
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(Address of principal executive offices)
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050000
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(Zip code)
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+7 (7272) 582 386
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(Registrant’s telephone number, including area
code)
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N/A
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(Former name of former address, if changed since last
report.)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
1.02 Termination of a Material Definitive Agreement
On April 22, 2008 the Supreme Court of the Republic of Kazakhstan
rejected the appeal of the Ministry of Energy and Mineral Resources of the Republic of
Kazakhstan (“MEMR”) and upheld the decision of the Court of Astana city
canceling the unilateral termination of the Company’s rights to its Kempirsai
deposit by the MEMR and reinstating the Company’s contracts and licenses to the
Kempirsai deposit.
On December 17, 2007 the Company filed a Current Report on Form
8-K disclosing that its wholly-owned subsidiary Kyzyl Kain Mamyt Ltd.
(”KKM”) had received notices of termination from the MEMR terminating the
contract dated 15 July 1997, license series MG No. 420 and 426 and contract no. 551 and
license series MG No. 9-D (collectively referred to herein as the “contracts and
licenses”). These contracts and licenses grant KKM the right to explore for
nickel, cobalt and other minerals within the Kempirsai deposit and brown coal within
the Mamyt deposit. The notices stated that the MEMR was unilaterally terminating the
contracts and licenses because KKM had material failures in the execution of the work
programs associated with the contacts and licenses but did not detail those
failures.
As disclosed in the Current Report of the Company on Form 8-K filed on
January 29, 2008, KKM filed an action in the Court of Astana city against the MEMR
challenging the legality of the unilateral termination of the KKM contracts and
licenses by the MEMR for several reasons, including that the contracts and licenses had
been terminated on grounds not provided for in the subsoil use contracts and
legislation and there were no material failures in the execution of the work programs
associated with the contracts and licenses.
On March 7, 2008 the Company filed an Amended Current Report on Form
8-K/A disclosing that on February 29, 2008 the Court of Astana city acknowledged, with
issuance of the official acknowledgment on March 4, 2008, that the unilateral
termination of the contracts and licenses by the MEMR was illegitimate. The Court of
Astana city canceled the order of the MEMR relating to the unilateral termination of
the licenses and reinstated the KKM contracts and licenses. The MEMR subsequently
appealed the decision of the Court of Astana city to the Supreme Court of the Republic
of Kazakhstan.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amended Current Report on Form 8-K/A to be signed on
its behalf by the undersigned hereunto duly authorized.
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Date: April 25, 2008
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By:
/s/ Yermek Kudabayev
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Yermek Kudabayev, Chief Executive Officer
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