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Berkeley Energia Ltd

Berkeley Energia continues to focus on Salamanca’s advancement

Berkeley wants to get building at the Salamanca mine but first it must secure approvals in Spain.

Berkely Energia
It is waiting to clear red tape so construction can start

Berkeley Energia Ltd (LON:BKY) highlighted that its primary focus continues to be on securing approvals to start building the Salamanca mine and bring it into production.

Amid its changing strategy, to strengthen its position in Spain, the company highlighted that it is in the process of setting up its head office in Madrid. It is also seeking to appoint a ‘suitably qualified Spanish National’ to replace departed managing director and chief executive Paul Atherley.

The company’s shares were listed on the Spanish Stock Exchange in 2018.

READ: Paul Atherley leaves Berkeley Energia as it looks to Madrid

“The company continues to await the Express Resolution on the award of the Urbanism Licence from the local municipality,” Berkeley said in a statement.

It added: “The company has provided the Nuclear Safety Council with all requested documentation and continues to await their recommendation report, the timing of which remains uncertain.”

At the same time, the company intends to continue a recently announced battery and EV metals exploration strategy with an initial six-hole drill programme slated.

Berkeley also noted the trend in global uranium prices.

“The uranium price weakened during the quarter due to uncertainty surrounding President Trump's decision on the Section 232 Petition,” it said.

“However subsequent to the quarter, a decision by the President to decline issuing quotas for US domestic uranium production was announced. The decision is expected to contribute to improved market conditions moving forward, as US utilities, in particular, continue their recontracting cycle.”

 

Quick facts: Berkeley Energia Ltd

Price: £0.14

Market: LSE
Market Cap: £36.12 m
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Watch

Caution over Berkeley Energia report casting doubt over Spanish government...

Numis Securities analyst Justin Chan chats to Proactive London's Andrew Scott following a Reuters report suggesting Spain’s government will not issue the required permits for construction of Berkeley Energia Ltd 's (LON:BKY) Salamanca mine to go-ahead, even though the project was granted...

on 17/10/18

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