“BKY Lands Sweet $120M Deal with Omanis to Fully Fund Salamanca”
“The hard work put in by Berkeley Energia managing director Paul Atherley is pursuing a strategic investment partner to secure the funds to build the Salamanca mine in Spain looks to have paid off big time.”
“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.”
Paul Atherley, managing director of Berkeley Energia Limited (LON:BKY) tells Proactive they’ve arranged the finance to bring their Salamanca uranium project into production through a US$120mln convertible loan and option package with Oman’s sovereign wealth fund.
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.
Emerging uranium producer, Berkeley Energia (ASX: BKY) announced on Tuesday that it had commenced the next phase of its exploration program focused on delivering additional deposits with similar characteristics to the Zona 7 deposit, which is located close to the surface and without a strong radiometric anomaly present.
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.