Big picture - Why invest in Berkeley Energia
Berkeley Energia Snapshot
Berkeley Energia is a high impact, clean energy company developing its wholly owned uranium project in a historic mining area in western Spain, about three hours from Madrid.
Last year, the Company discovered the shallow Zona 7 deposit which given its size, high grade and low cost extraction transformed the economics of the Project.
The results of a Pre-Feasibility Study were published in late 2015 which demonstrated highly robust economics at current uranium prices.
During steady state production the mine will produce 4.3m lbs of uranium, with operating costs of US$15.60 per pound, making it one of the lowest cost producers in the world once developed and with a total mine life of eighteen years. The capital cost to initial production is US$81.4 million reflecting the abundance of high quality infrastructure already servicing the project. The project has a Net Present Value of US$353.5 million with an internal rate of return of 54% based on a discount rate of 8% and a long term uranium price of US$44 per pound.
Berkeley is now conducting optimisation studies as part of a Definitive Feasibility Study aimed at making the Salamanca project one of the world’s lowest cost uranium producers. The Definitive Feasibility Study will be published in the coming months.
The company has all the required permits in place to commence initial development. Following the award of contracts for a road deviation and upgrade to an existing powerline the Company has moved ahead into the development phase.
An interim financing of $10m announced in May this year will see the company through to a construction decision towards the end of 2016 when the main financing will occur. Development of the mine is anticipated to occur during 2017 with first production in 2018.
BSc MAppSc MBA ARSM
Mr Atherley is a Mining Engineer from Imperial College with an MAppSc and MBA. He has held numerous senior executive and board positions during his career. He served as Executive Director of the Investment Bank arm of HSBC Australia and completed numerous acquisitions and financings of resource projects in Australia, Asia, Africa and Europe. As the Managing Director of Leyshon Resources Limited, Mr Atherley was responsible for the exploration, development and successful sale of the Zheng Guang Gold-Zinc Project in China. He was the Chairman of the British Chamber of Commerce in China and Vice Chairman of the China Britain Business Council in London and has wide ranging international media experience.
General Manager Operations
Mr Bellón is a Mining Engineer with over 20 years’ experience in project management and operations including more than a decade in senior management roles with TSX listed Rio Narcea Gold Mines prior to its takeover by Lundin Mining. At Rio Narcea he gained experience in the development, construction, commissioning and operation of new mines in Spain and West Africa including El Valle-Boinás (Au-Cu), Carlés (Au-Cu), Tasiast (Au) and was Operations Manager and General Manager of the Aguablanca Ni-Cu in Spain. He laterjoined Duro Felguera, a large Spanish engineering house, as Manager of the Mining Business, overseeing the peer review, construction and commissioning a numerous large scale mining operations in Africa and South America.
Senior Vice President Corporate
Mr Colilla is an Economist and Lawyer and holds an MBA. He has prior experience in auditing and insurance and over 25 years’ experience in the mining sector commencing at Anglo American as General Manager of their Spanish subsidiaries where he dealt with projects in Europe and South America. He held various executive roles with TSX-listed Rio Narcea Gold Mines including VP Business Development, CFO and Senior VP Corporate where he was involved in commercial, legal, joint ventures, permitting, stakeholders and financings for mining operations in Spain and Mauritania including El Valle-Boinás (Au-Cu), Carlés (Au-Cu), Aguablanca (Ni-Cu) and Tasiast (Au).
MBA, CFA, B.Bus.Sci (Hons)
Mr Schumann commenced his career as a management consultant before moving into the natural resources sector, initially as part of an investing team in London focused on early stage mining projects and then working in corporate development functions for a number of listed mining and energy companies. He has a decade of experience in the financing and development of mining and energy projects globally across a range of commodities. He holds an MBA from INSEAD, is a CFA Charterholder and holds a Bachelor of Business Science (Finance CA) from the University of Cape Town.
Non- Executive Chairman
Mr Middlemas is a Chartered Accountant and has been in commerce for over twenty five years. He was previously Chairman of Mantra Resources Limited, an African-focussed uranium exploration and development company, and is also a director of a number of other publicly listed companies. He has considerable corporate, financial and management expertise and is a Member of the Financial Services Institute of Australasia.
Non Executive Director
B.SC (Hons), PhD, FAusIMM, FAICD
Dr Ross is a leading international geologist whose technical qualifications include an honours degree in Geology at UWA and a PhD in Economic Geology from UC Berkeley. He worked for Western Mining Corporation for 25 years and was then Managing Director of World Geoscience and Odin Mining Investment Company and has held numerous directorships for listed resources companies. He has considerable international experience in exploration and mining, particularly in developing countries.
B.Sc. (Hons.), FAusIMM, MAIG
Mr Behets is a geologist with over 24 years experience in the mineral exploration and mining industry in Australia and internationally. Most recently he was instrumental in the founding, growth and development of Mantra Resources Limited, an African-focused uranium company, through to its acquisition by ARMZ for approximately A$1 billion in 2011. Prior to Mantra, he held various senior management positions during a long career with WMC Resources Limited.
B.Com, CA, AGIA
Mr Browne is a Chartered Accountant and Chartered Secretary who commenced his career at a large international accounting firm and has since worked in the corporate office of a number of listed companies that operate in the resources sector.
Mr Browne was appointed Company Secretary of the Company on 25 October 2015.
TOP 20 SHAREHOLDERS
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Unit 1C Princes House
38 Jermyn Street
London SW1Y 6DN
Telephone +44 207 478 3900
Level 9, BGC Centre
28 The Esplanade
Perth WA 6000
Telephone +61 8 9322 6322
Facsimile +61 8 9322 6558
Carretera SA-322, Km 30
Computershare Investor Services
45 St Georges Terrace
Perth WA 6000
Computershare Investor Services
PO Box 82
Bristol BS99 7NH
1 Havelock Street
West Perth WA 6005
Nominated Advisor and Broker (as required by AIM)
24 Martin Ln,
Legal Advisers to the Company (as to Australian Law)
Level 31, 152-158 St Georges Terrace
Perth Western Australia 6000
Solicitors to the Company (as to Spanish Law)
Herbert Smith Freehills Spain LLP
Paseo De La Castellana 66