Proactive Investors - Run By Investors For Investors

Berkeley Energia jumps as it refutes media reports surrounding Salamanca approvals

It isn’t the first time the company has had to battle media speculation around potential approval for the Salamanca project, having refuted two other instances last October
Uranium element
Salamanca is being developed in a historic uranium mining area in Western Spain

Berkeley Energia Limited (LON:BKY) shares jumped in early trading Friday after it said it has received no official notice regarding official approvals for its Salamanca uranium project after reports emerged in the Spanish media.

In a brief statement, the miner said it would update shareholders when any formal notice regarding approvals for the project, which is located around three hours west of Madrid.

READ: Berkeley Energia seeks to clarify permit situation at Salamanca

It isn’t the first time the company has had to battle media speculation around potential approval for the Salamanca project after a Reuters report in October suggested the mine would not receive approval from the Spanish government despite already being given preliminary approval.

READ: Berkeley Energia says Spain’s Nuclear Safety Council not the source of negative media reports

The firm was then forced to refute media speculation once again that month when more press reports emerged that the government was intending to deny permits for the mine, with Spain’s Nuclear Safety Council saying it was not the source.

In a note to clients, analysts at broker Shore Capital said that the Spanish press had "apparently" reported that approval for the project had been granted, adding that a Reuters report yesterday had said "Spain’s nuclear watchdog CSN had “endorsed” two nuclear safety studies, in “a preliminary step in the approval process”".

Shares were up 17.3% at 24.7p

--Adds broker comment and share price--

View full BKY profile View Profile

Berkeley Energia Ltd Timeline

Related Articles

oil well
February 06 2019
Company has exploration and production interests in shale licences in the US and Australia
Hurricane
March 01 2019
Hurricane Energy has gone from a conceptual idea to point of substantial production
Gas flare
10:45
The group is in the middle of a three well programme to explore the A1 prospect, close to the original Tendrara discovery

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use