Berkeley Energia financing coverage on The Telegraph

“Uranium miner Berkeley Energia wins £93m backing from Oman.”

 

“Aim-listed uranium miner Berkeley Energia has won $120m (£93m) backing from the sovereign wealth fund of Oman to finance construction of its mine in Spain.”

“The first tranche of cash will come in the form of a $65m loan that will convert into shares worth 50p, giving the fund a 28pc holding in Berkeley. This will fund the remainder of the construction of the company’s mine near Salamanca in northwestern Spain.”

Read the full article on The Telegraph here.

Berkeley Energia financing sovereign wealth fund $120 million investment

Berkeley Energia appoints Majedie Co-Founder as Non-Executive Director [Mining Weekly]

Berkeley Energia is pleased to announce that Mr Adam Parker has been appointed as an independent Non-Executive Director of the Company effective 14 June 2017.

Mr Parker joins the Company after a long and successful career in institutional fund management in the City of London spanning almost three decades, including being a co-founder of Majedie Asset Management, which today manages assets of approximately £14 billion.

Read full article in Mining Weekly

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Berkeley consensus share price target implies upside of 60% to current price [Finfeed]

After shares in emerging uranium producer, Berkeley Energia (ASX: BKY) doubled from circa 60 cents in mid-2016 to hit a high of $1.20 in late January, they have retraced significantly in recent months, hitting an intraday low of 65 cents in late April.

As indicated below, there has been a trailing off in the spot uranium price in the last few months after a sustained decline from circa US$35 per pound at the start of 2016 culminated in it bottoming out around the US$20 per pound mark in the last quarter of calendar year 2016.

The rebound to circa US$27 per pound in the first quarter of 2017 quickly fizzled out and the commodity is now trading in the vicinity of US$22 per pound.

Read the full article at Finfeed.