Berkeley Energia Share Discussion Threads

[herlat1] 08/9/2016 18:07

Fidelity still buying - now over 6%.

[piedro] 08/9/2016 17:03

snikerdog - that's an interesting find
did you get it from #1050

[snickerdog] 08/9/2016 16:20

Analyst raises target to £1.35 per share as Salamanca continues to impressTop rated analyst Dave Talbot, at Dundee Capital Markets, has raised his target price for Berkeley Energia (BKY) to £1.35 per share following last week's drilling update from the Salamanca project. Talbot highlights that even with the drill programme only one third of the way through the upside potential looks to be considerable with additional high grade resources potentially improving the "already impressive" project. His latest note describes the project as a "top performer" and he now values the company at over £520 million based on a post tax 10% DCF model.http://berkeleyenergia.com/wp-content/uploads/2016/09/060907-Dundee-Confirmation-of-deeper-flat-lying-high-grade-Zones-at-Zona-7.pdf

[piedro] 08/9/2016 15:59

Is this the reason?

Analyst raises target to £1.35 per share as Salamanca continues to impress

[liambilson] 08/9/2016 12:04

Sudden flurry of buying

[herlat1] 08/9/2016 06:15

@kreature Would they be online 'signatures'?

[kreature] 08/9/2016 03:25

30,000 signatures ? Pleased to remain Short on this one.

[herlat1] 06/9/2016 14:57

Great drill results the other day. Very good to see solid progress on the ground.

[liambilson] 05/9/2016 04:21

Results are out- and they are positive

[miss womble] 01/9/2016 10:47

Many thanks Piedro

[piedro] 01/9/2016 10:46

Berkeley Resources changed its name to Berkeley Energy {this year if I remember correctly}

[miss womble] 01/9/2016 10:15

I find the two names Berkeley Resources and Berkeley Energia quite confusing. Can anybody explain to me the two names. Many thanks and good luck with this company. MW

[duncan doughnut] 21/8/2016 16:32

Wait for the outcome and it will be too late, there will be a big premium to this current price to pay.

[kreature] 21/8/2016 16:16

Well could be good but probably best to wait for the National Court outcome and to see if any outstanding permissions are refused or granted. AIM rule 11 requires general disclosure of price sensitive information.

[1stuartstuart] 21/8/2016 10:33

Berkeley Energia Ltd (LON:BKY) is forging ahead with its uranium mine development in Spain, where initial site works have already begun.

Salamanca will be one of the globe's top ten producers and among the lowest cost, able to generate cash, even during current low uranium prices, the group has said.

Early stage work is fully funded, while the company hopes to secure a deal for full mine financing this December quarter, ahead of completing the project by the end of 2017.

A robust definitive feasibility study

The study in July showed that over an initial ten-year period, Salamanca can produce an average of 4.4 million pounds per year at US$13.30 per pound and cash cost of US$15.06 per pound (compared to current spot of US$26 per pound).

It is expected to generate an average annual net profit after tax of US$116 million.

The DFS placed a net present value (NPV) on the operation of US$531.9mln, and upfront capital costs to build the mine were slated at US$95.7mln.

With operating costs almost exclusively in Euros and revenue coming in in US dollars, it is expected to continue to benefit from continuing deflationary pressures in the EU.

The initial mine life of 14 years based on measured and indicated resources of 59.8 million pounds.

Exploration is aimed at converting some of the inferred 29.6 million pounds into mineable material.

Speaking to Proactive, chief executive Paul Atherley has said: "We are able to build this project, produce uranium, right at the bottom of the uranium price cycle and we are the only mine in the world that's able to do that."

Offtake negotiations underway and a price rise?

Berkeley is already in negotiations with selected utilities regarding offtake contracts during the initial 3-5 years of production from the project.

At a time when the project is due to come online, US utility firms' contracts will have ended, and be competing with demand from new Chinese nuclear reactors, which may push up prices, the firm reckons.

Atherley said: "So two big demand shocks at a time when primary supply is falling, so a lot of people are forecasting the uranium price to move quite strongly."

Building work started and mulling full financing route

Work on a road realignment and power line upgrade at Salamanca, three hours west of Madrid, is already underway and Berkeley said it was fully funded for this initial phase with A$11.3 million in cash and no debt.

On the remainder needed, the firm says it has been approached by a number of potential groups due to the site's attractive low operating and capital costs

Its preferred method and to minimise shareholder dilution, would be the sale of a minority interest to a strategic partner for a price that reflects the NPV (net present value).

What the broker are saying

FinnCap repeated a 'buy ' and 113p target price having initiated on the stock last week.

Given the weak uranium market currently, finncap expects this to be the only “major new project to start construction”, something which Berkeley could use to its advantage.

Liberum has also started coverage, saying it sees little downside to Berkeley, as further exploration success and higher uranium prices in the future will only serve to drive the share price higher. It has a target of 60p.

Shares today added 7.76% to 49.3p.

[1stuartstuart] 21/8/2016 10:22

Berkeley's own Retortillo area, including some smaller deposits, is 35 km northeast of Alameda. While Berkeley attempted to progress the ENUSA JV project, in October 2011 the company turned its attention back to its own deposits where exploration had ceased in 2008, and it applied for a mining licence for these as Salamanca 1, using bacterial heap leaching rather than toll processing through the Quercus mill (as envisaged with the JV). A preliminary feasibility study was completed in 2011 showing pre-mining cost of €62.5 million and mine life of ten years producing 9750 tU. A pre-feasibility study in 2013 using only the 13,270 tU estimated resources of Alameda and Retortillo was based on open pit mining with acid heap leaching at both sites, a central processing plant at Retortillo and a remote ion exchange operation at Alameda, with resin trucked to the main plant. Initial capital cost would be US$ 95 million, followed by $74 million to develop Alameda. It indicated an 11-year mine life averaging 1000 tU/yr at $25/lb U3O8.Zona 7 with 12,080 tU (including 10,700 tU indicated resource at 0.062%U) is about 10 km from the proposed treatment plant at Retortillo, and due to its relatively high grade (0.05%U) and shallow depth it is being integrated with development plans. Retortillo has 5150 tU as measured and indicated resources, and a little more as inferred in satellite deposits.In April 2014 Berkeley was granted a 30-year mining licence for Retortillo. A definitive feasibility study is underway. Possible satellite operations include initially Zona 7 (11,600 tU, 10 km from Retortillo), and in July 2015 CSN approval represented the first of three steps in authorizing the treatment plant as a radioactive facility in the name of Berkeley Minera Espana. In October 2015 the company had all approvals in hand for project infrastructure. Some site development started in March 2016.The Gambuta deposit 145 km southeast has 4250 tU as inferred resource and is considered part of the Salamanca project.Overall, Berkeley (March 2016) claims 34,500 tU resources for the Salamanca project (JORC-compliant) at average grade 0.041%U, with 200 ppm U3O8 cut-off. An updated pre-feasibility study based only on 23,600 tU measured and indicated resources showed that incorporating Zona 7 transformed the economics of the project. It increased the mine life from 11 to 17.5 years (at average 1150 tU/yr) and reduced the operating costs from US$24.60 to US$15.60 per pound of U3O8 produced “during steady state operations” (1650 tU/yr), and reduced the initial capital cost from $95 million to $81 million. A definitive feasibility study in July 2016 showed 1700 tU/yr production over ten years at $15.06/lb.The 1600 tonnes of uranium used in Spain each year is imported. ENUSA has a 10% stake in mining in COMINAK, mining at Akouta in Niger.

[1stuartstuart] 21/8/2016 09:53

I have posted a few times today,as i felt i had to put the record straight.
anyone that posts on a public forum that tries to discredit a stock is simply trying to short it!!

if they were a genuine protester, then they would be standing in the street with the other protester, tying themselves to trees or whatever. and keeping away from financial investment websites like this.

they are not posting for the genuine good of the world IMO

[1stuartstuart] 21/8/2016 09:40

complain, complain till your blue in the face, for example, 3.5 million folk signed a petition to get the vote on the brexit vote redone, did it make one bit of difference.NO!!

[1stuartstuart] 21/8/2016 09:35

I can just imagine 10 years ago at the bky boardroom , hey lets spend 60 million euros and 10 years of due diligence to build a mine, but what if a treehugger tries to stop it. never mind its only 60 million down the drain. NOT
i dont think for one minute a company would spend that time and money if it was to be backing a wager on a whim, maybe theyd put the money on buying lotto tickets instead and the ceo would be congratulated for wining a few lucky dips with his 60 mill stake, get real!!

[1stuartstuart] 21/8/2016 09:23

bky do not expect to have a problem with funding as their are many interested parties especially from china and the usa.

[1stuartstuart] 21/8/2016 09:18

Im a realist, been there seen it done it. there are 2 types of activists, 1, the unemployed hippie type that simply fill their life by protesting and 2. the goody two shoes that have a comfortable life many miles away from the thing they are protesting about simply because it is against their upstanding beliefs, but whether they succeed wont make one bit of difference to their comfortable lifes.

[1stuartstuart] 21/8/2016 09:02

the world is full of unemployed hippies,that love to complain, next theyre be living up trees,ive witnessed where i lived a few years back in scotland. got the tee shirt so to speak.
so unemployed folk would rather protest and leech the benefit system than work, if a company was moving into my town that would bring prosperity , i dont think i would complain, only a scrounger would that wants to remain unemployed in some spanish backwater would.

if you do not hold stock and are a shorter of this stock, then continue to protest, preferably with a felt tipped table cloth, but not at the detriment of existing shareholders who grafted hard to earn money to invest in companies that can better their lifes, some of us this is investments to our pensions.



i suggest you stand out in the crowd, in the streets, but bringing your woes to a public forum is not to better the world, it is simply to short a stock IMO.

[1stuartstuart] 21/8/2016 08:49

anyone that posts about negativity about a stock is obviously not a shareholder here and their motives are to short the stock. after all why would discredit your own stock???

this is a tactic used on bulletin boards and is well known.

after all if you were an employee of a company which paid your wages, would you discredit them, risking the fact that it may put your job at risk, no you wouldnt.

thus activists and negative posters and the like do so simply to gain a position that betters themselves, not for the greater good IMO.