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Berkeley Energia raises cash but keeps dilution to a minimum

Published: 14:19 10 May 2016 BST

Berkeley Energia Limited (LON:BKY) confirmed on Tuesday that it has pulled in US$10mln of new financing at a 15% premium to the current share price, with existing shareholder The Resource Capital Fund (RCF) putting up half the cash.

Hugo Schumann, commercial manager, tells Proactive Investors it is a “really good deal” which “keeps dilution at an absolute minimum and the raise at a premium I think is very significant in what is a difficult market”.

The money will allow Berkeley to maintain the current rate of progress at the Salamanca uranium project in Spain, and Schumann says “the goal here is to fund the initial infrastructure work at the project”.

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