With a 13 year history, Mines and Money London is Europe’s largest mining investment conference and exhibition, bringing together over 2,500 attendees from 75 countries.
Berkeley Energia will be present throughout the four day conference and we invite you to visit us and speak with our management about the company and our operations. Register today and we look forward to seeing you there.
Berkeley Resources (AIM/ASX:BKY) has taken a big step forward in securing the funds needed for construction of its 100%-owned Salamanca project in west-central Spain (FCW #683, Nov. 3).
The firm announced on Nov. 4 it had raised approximately $30million before expenses from a share placement with existing and institutional shareholders. Apart from Paladin Energy and Namibia’s Langer Heinrich mine, no other junior outside the U.S. has successfully raised finance for the development of a new uranium mine in the past decade.
Commenting on the successful completion of the placing, BKY managing director Paul Atherley, said: “We are delighted with the strong institutional support for this financing which allows
us to accelerate the development of the Salamanca mine.” He noted: “The placing has been heavily oversubscribed by London based blue chip generalist institutions who will dominate
the register once settlement completes.”
An AIM quoted miner will set out its stall today as the lowest cost producer of uranium needed to feed the world’s growing number of nuclear reactors. Berkeley Energia, which aims to begin construction of its Salamanca mine in northwestern Spain next year, will announce the results of additional work on its Zona 7 deposit, which it says will enable it to bring down operating costs by 40 per cent, making it a lower cost producer than the Torontolisted Uranium One. The mine also would give Europe’s 160 reactors, which rely almost entirely on imports, chieflyfrom Kazakhstan, Russia and Niger, a source of uranium on their doorstep.
Development of the $100 million Salamanca uranium project in west-central Spain began in August, owner Berkeley Resources (AIM:BKY) confirmed in an Oct. 11 news release. Work has been initially limited to supporting infrastructure, but “material procurement has begun and main construction will start early next year.”
The firm added that after a decade and $60 million of investment, infrastructure development is “well underway” (FCW #678, Sept. 29). Berkeley highlighted that its investment will help rejuvenate a local community severely impacted by unemployment with over 450 new jobs and an estimated 2,700 indirect jobs, while injecting new business opportunities into local firms and suppliers, many of whom have been struggling due to long term under investment in the area.
Hugo Schumann discusses the progress of works on site as Berkeley moves towards the construction phase
Paul Atherley explains the Uranium supply deficit, and how Berkeley Energia is well positioned, in under 2 minutes.
Commercial Manager Hugo Schumann discusses the appointment of Amec Foster Wheeler and the recent offtake agreement as he updates Proactive Investors on Berkeley Energia’s latest newsflow.
Investment Case: Sector: “Mining”. Therefore, it is not a surprise that, having been above 100p just over 4½ years ago and 30p 2½ years ago, shares in what was Berkeley Resources, now Berkeley Energy (BKY), traded down towards 11p earlier this year. However, the last few months have seen a recovery to a current 21p offer price and, having largely (and correctly) avoided the sector here thus far, we now sense investor confidence is at least near the bottom. This together with recent developments at Berkeley give us the confidence to now add the shares to the Gold (really mining) portfolio, considering there the potential for further good gains from here in even just a relatively stable investment environment for the industry. Should sentiment actually decently improve – as it will at some point – we should be really off to the races here… Our initial target price to sell is 30p.
Berkeley Energia (AIM/ASX:BKY) has further boosted the already favorable prospects for its 100%-owned Salamanca project in Spain with the latest drilling results from the Zona 7 deposit, suggesting a new resource upgrade may be imminent.
In a Sept. 5 market update, the firm said that additional high grade intersections had been located below Zona 7, “further supporting previous indications of continuity of mineralization beneath the current defined resource.”
Results from another four holes drilled to a maximum depth of 271 meters reported grades “consistent with, or higher than, the average grade of Zona 7.”
in the latest episode of Zak Mir’s LSE interview series Paul Atherley and mining fund manager, Amanda Van Dyke, take a closer look at how Berkeley Energia (BKY) has outperformed its peers despite the uranium market being “in the doldrums”.
