Berkeley Energia – Strategic investment update

Paul Atherley, Managing Director, discusses the $65M Oman financing transaction, which fully de-risks the capital costs required to bring the Salamanca mine into production. Paul welcomes the Oman fund as a strategic, long term investor and shareholder in the Company and Mr Deepankar Panigrahi to their Board. The Salamanca mine is the only uranium mine under construction in the world today and the Company is well positioned going in to the New Year.

 

 

Berkeley defies the uranium gloom [Mining Journal]

That isn’t to say 2017 has been uneventful; Berkeley has made significant progress with early works, continued its exploration programme and secured US$120 million of finance at the height of the uranium bear market for a project set to make the company a top-10 producer.

These achievements – delivered when the spot uranium price is hovering around a 12-year low – are testament to the project, management team and expected market resurgence for the nuclear raw material.

Read the full article on Mining Journal

Berkeley Energia uranium mining journal

Berkeley Energia welcomes Deepankar Panigrahi to the board as funds from Oman roll in [Proactive Investors]

Berkeley Energia Limited (LON:BKY,ASX:BKY) has received the initial US$65mln tranche of funding for its Salamanca project from the Sultanate of Oman’s sovereign wealth fund.

The payment means that capital costs for production at the Salamanca mine – the only uranium mine under construction anywhere in the world – are fully funded.

Read the full article on Proactive Investors.

 

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