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.

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Berkeley energised as it targets first uranium output in 2018

Berkeley Energia (BKY:AIM) commenced construction of its has $100m Salamanca project located in Western Spain and is aiming to be a clean energy supplier from the heart of the European Union (EU). Production will commence in 2018 and once in full production the mine will be one of the world’s top ten producers of uranium.

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Berkeley Energia company profile reproduced with permission from SHARES Spotlight March 2017 issue www.sharesmagazine.co.uk