Berkeley Energia’s Oman deal prompts price target upgrade by WH Ireland [Proactive Investors]

WH Ireland has increased its target price for Berkeley Energia Ltd (LON:BKY, ASX:BKY) to reflect the recent financing agreement for the Salamanca project.

The Sovereign Wealth Fund of the Sultanate of Oman is to provide up to US$120m to fully fund the Salamanca mine into production, which WH Ireland analyst Paul Smith thinks is an outstanding achievement in the current environment for uranium explorers.

Read the full article on Proactive Investors.

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