Spanish focused Berkeley Resources (ASX: BKY) in the last week has not only come on to investors radars, but has also raised eyebrows at the ASX, after the company's shares closed at $0.48 last night - a healthy 22% gain from a week before.
The ASX issued Berkeley a price and volume speeding ticket, and in a response back to the exchange Berkeley did note 'The company is in ongoing discussions with all stakeholders in relation to the previously announced dispute with the aim of achieving an amicable solution.
'The outcome of those discussions and timing of any agreement by the stakeholders is uncertain.'
Providing some background to the dispute, Berkeley initiated arbitration proceedings against the joint venture partner, Enusa Industrias Avanzadas, S.A. with a claim of over US$200 million following repeated deadline extensions.
Berkeley has two uranium development projects in Spain with total gross combined Mineral Resources of 81.3 Mlbs (36.9 Kt) U3O8 (200 ppm cut-off) and net combined Mineral Resources of 76.0 Mlbs U3O8.
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