Share Name Share Symbol Market Type Share ISIN Share Description
Berkeley Eng LSE:BKY London Ordinary Share AU000000BKY0 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 53.00p 52.00p 54.00p 53.25p 53.00p 53.00p 624,872.00 12:55:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.1 -7.6 -4.2 - 134.77

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Berkeley Resources (BKY) Top Chat Posts

DateSubject
23/3/2017
08:20
Berkeley Resources Daily Update: Berkeley Eng is listed in the Mining sector of the London Stock Exchange with ticker BKY. The last closing price for Berkeley Resources was 53p.
Berkeley Eng has a 4 week average price of 54.93p and a 12 week average price of 60.30p.
The 1 year high share price is 70p while the 1 year low share price is currently 25.75p.
There are currently 254,289,976 shares in issue and the average daily traded volume is 633,547 shares. The market capitalisation of Berkeley Eng is £134,773,687.28.
16/3/2017
11:18
herlat1: Lango/Marvelman They have completed two rounds of financing with very sophisticated investors notably Resource Finance Corporation - one the biggest and most successful mining private equity funds.RFC invested at a premium to the equity price as I recall.Prior to RFC's investment you were posting similar comments about BKY not being able to raise finance.It appears to me that BKY has done everything it has said it will do and the share price has responded accordingly.Why the negativity?
24/2/2017
08:31
bookwormrobert: I don't think BKY's current share price weakness is linked in any way to the fairly spurious court case. It's sectoral - all the big uranium miners are down this week, most of them by more than BKY. My guess it's linked to the sudden softness of the U3O8 spot price (it fell from $26.50 to $24). Hopefully, Monday will bring a new and better spot price. Perhaps also the Toshiba scandal is affecting sentiment. None of this really matters in the big picture. If the share price does tank more, I'll just buy more.
23/2/2017
15:46
bookwormrobert: It's worth saying that BKY's share price decline is sectoral: Cameco is down about 16%, Global ETX down 11%, Paladin down 15%, ERA down 17%, and our own BKY down 12% over the last five days. Presumably it is linked to short term softness in the uranium spot market price, but that doesn't really change anything about the long term solidity of BKY's basic investment proposition. This is a buying opportunity, and one I intend to take, but only when the share price has stopped falling and found a floor. Never try and catch a falling knife!
31/1/2017
07:51
herlat1: # First LightBerkeley Energia*# (BKY) - Buy – Quarter of considerable progressMarket Cap £178m Price 68.5p Target 128p Berkeley Energia has today announced the results of its December quarter – a period of considerable progress towards its ultimate goal of producing low cost uranium from its Salamanca mine in Spain. At the end of the quarter, Berkley had $AU31m in cash and remained debt free. During the period, Berkeley completed its first offtake deal with Interalloys for 2Mlbs U3O8 over a five year period at a price of $US43.8/lb U3O8 – well ahead of the spot price. Berkeley report further interest with other parties at similar terms to those with Interalloys. During the quarter Berkeley also raised $US30m with London institutions in a placing which was oversubscribed and at only a slight discount to the prevailing share price. This first phase of funding allowed Berkeley to both complete the land purchase and land lease for the project and also to place orders for the crushing circuit for the plant and begin proper construction in Spain. The crusher was purchased from Sandvik at a price lower than expected from the DFS and bodes well for further optimisation and the final capital costings for the project as part of the front end engineering and design being undertaken by AMEC Foster Wheeler. Berkeley continues to talk to a range of potential financing partners to finance the remaining capital required to build the mine and who are interested in taking a strategic stake in the mine. These potential partners are currently undertaking due diligence. Perhaps one of the most important developments at the end of the quarter (and into this year) has been an improvement in sentiment in the uranium market with the spot price increasing and utilities beginning to enter the market again looking for longer term supply. We see this improvement continuing as existing demand renegotiates supply contracts and new demand enters the market, especially that from the large number of new reactors being commissioned and built (e.g. in China). Berkeley's mine in Spain is well placed to benefit from the expected increase in price as it commissions and reaches full capacity. We retain our Buy recommendation and 128p price target as Berkeley moves positively into the new year.
14/1/2017
18:18
kingston78: Buy and Hold BKY to see its share price to rise to at least £1 a share within a year and up to £1.60 within 18 months. Many doomsters were selling Anglo American when its share price had fallen to £2.20 with a downside target of £1. Anglo American has since reversed from that point onwards to rise 6 times higher. I am citing Anglo American as an example to illustrate that the trend is your friend. Follow the trend until it reverses. Good luck. I will hold BKY for 18 months at least. I suspect that the company will be taken over when it generates strong profit and cash flow.
04/1/2017
08:18
tromso1: From the LSE BB... ---- Berkeley Energia’s (BKY) Salamanca mine moves into construction as uranium price rises strongly after multi-year decline Berkeley Energia’s (BKY) Salamanca mine is the only major uranium mine in the world commencing construction this year just as uranium prices have begun rising after multi-year lows and Donald Trump's inauguration is expected to rejuvenate US nuclear power generation capacity. A recent Financial Times poll has forecast parity for the Euro against the US dollar which will boost the Salamanca mine's profit margins, as its costs are in Euros and its revenue will be in US dollars. The positive political sentiment towards nuclear power continues to grow with investors such as Bill Gates and Li Ka-shing as well as Greenpeace founder, Patrick Moore, backing nuclear power as the key to the world's clean energy future. Following the start of initial infrastructure works and the ordering of major equipment for the crushing circuit late last year the Salamanca mine, with first production expected in 2018, is ideally placed to service the expected uranium supply/demand deficit, which is forecast to be the greatest the world has ever experienced. Sentiment regarding the uranium market was turning towards the end of last year and is likely to remain on the up as we head into 2017. In mid-December the spot price jumped above the $20 mark with Ux reporting that several utilities have entered the market, causing the spot price to increase. Since October, industry leader Cameco's (CCJ.T) share price has risen 40% highlighting a potential turnaround in the sector. The inauguration of Donald Trump later this month could bring more good news for the uranium market. In December the President Elect commented “The US must greatly strengthen and expand its nuclear capability” which led to a spike in uranium stocks. Trump has already indicated his support for the nuclear power industry, during his campaign he said it is “a valuable source of energy and should be part of a program for providing power for America long into the future.” It is now widely acknowledged that nuclear is an essential part of the energy mix for a zero carbon future and the nuclear industry is finding supporters in all spheres of business, even those that were traditionally sceptical of it. Patrick Moore, founder of Greenpeace, said when he founded the organisation he believed that ‘nuclear energy was synonymous with nuclear holocaust’. Decades later, he is now strongly in favour of it, claiming: “nuclear energy may just be the energy source that can save our planet from another possible disaster: catastrophic climate change.” Private investors such as Bill Gates and Chinese billionaire Li Ka-shing have been pouring money in nuclear research – and uranium mining – for years now and in December Gates, Jeff Bezos, Richard Branson and others revealed a new $1 billion investment. With operating costs almost exclusively in Euros and a revenue stream in US dollars the Salamanca mine is expected to continue to benefit from the effects of deflationary pressures within the European Union. The Euro is down 5% against the dollar since the Company published its DFS in July 2016. According to a Financial Times poll of economists, the dollar will attain the same value as the euro during the course of the year, buoyed by higher US interest rates. Nuclear power is now universally accepted as part of the clean energy future and Berkeley Energia’s Salamanca mine will play a vital role in powering the world in the decades to come. It will be Europe’s only major uranium mine and once in production it will be one of the world’s biggest producers supplying over four million pounds of uranium concentrate a year, equivalent to approximately 10% of the continent’s total requirement.
28/11/2016
12:45
snickerdog: Berkeley have caught to eye of Growth Company Investor who don't really feature mining stocks very much. Lots in the press recently and it keeps on coming. Berkeley Energia’s nuclear options Worldwide, the nuclear power industry is expanding, and uranium mining business Berkeley Energia is set to benefit from future price rises in the radioactive material The business However, the demand picture looks quite interesting. There was a lot of soul searching in the aftermath of Fukushima, with Germany moving to close down its nuclear power stations. Elsewhere, though, the industry is expanding. All told there are 447 operating reactors at the moment and 59 under construction, an increase of 13 per cent. A further 168 are planned and twice that number are at the proposal stage. China leads the way with six to eight new builds each year and wants 10 per cent of its energy to come from nuclear. Rising demand and lack of new mine capacity should tighten the uranium market over time, so this looks like an opportunity to invest at the bottom of the price cycle. We have tended to avoid the mining sector given the carnage over the past few years. Although it hit a decisive bottom at the beginning of this year, we still want to set a high bar when considering new investments in the industry. Berkeley Energia comfortably passes our key tests. It plans to mine an attractive commodity at very low cost in a good location. It is also well funded, having just completed an important round of financing. Berkeley is developing the Salamanca project in Spain, which will be Western Europe’s only uranium mine. Uranium prices have been depressed since the Fukushima nuclear accident in 2011. Most trade in the metal is carried out under long-term contracts, but the spot uranium price has been languishing around the $20 per pound level. Its peak in 2007 was well over $100. Prices then fell sharply after the financial crisis but were recovering to above $70 at the time of Fukushima. Contract prices are currently in the $40 region, which is a good premium to spot, but creates little incentive for producers to increase supply and build new mines. The big attraction of the Salamanca project is its cost profile. The initial capital cost of $95.7 million is low for a mine of its size. This is helped by the general drop in equipment and contractor costs given the recession in the industry and by its favourable location in Spain, with good-quality existing infrastructure and proximity to the port of Santander. Construction is expected to be straightforward with no obvious risks that might cause delays. There’s strong local support for the project given high regional unemployment. Operating cash costs are expected to be around $15 per pound, which is right at the bottom of the uranium industry’s curve, which has an average of over $30. The Salamanca ore grades are high and, being close to the surface, are easy to mine in an open pit. Recovery rates are expected to be very high despite using a low-cost heap leaching process. As well as low operating costs due to needing less power than a milling and tank leaching approach, this process is also less capital intensive. experience in project management and mining development, including building new mines in Spain. There are three ore bodies in the project, two of which are close together. One of these, Retortillo, should start production in the second half of 2018. Phase two is Zona 7, which is the most profitable ore body and should be on stream around a year later. Production will then concentrate on Zona 7 to maximise cash flow early in the project’s life and generate the funds to develop the third body, Alameda, which is 35 km distant. Spanish uranium should be attractive to buyers since, apart from Canada and Australia, the most significant producers are the less predictable territories of Kazakhstan, Russia and Niger. And with 4.4 million pounds per annum, Salamanca will be in the top dozen or so of world producers. This should help Berkeley build a book of offtake contracts in the run-up to initial production. A first letter of intent has been signed with a trading house indicating a $41 price. Therefore, even at what looks like the low point of the cycle for uranium, this project should be a winner. Financials and Management Paul Atherley is MD and is a mining engineer with over 25 years of operating experience. The general manager of operations is Francisco Bellon, who has more than 20 years’ experience in project management and mining development, including building new mines in Spain. Obtaining and structuring the finance for the project is a vital component of the story. The initial infrastructure work is already underway, with the main period of construction being 12 months from the middle of next year. Berkeley has just raised $30 million in a placing at 45p, which was the prevailing share price. This adds to the $10 million it had in the bank at the end of October and will cover the crushing circuit at the processing plant. However, a further $80 million will be needed to complete the project and move into production. Outlook and valuation The upside potential for the uranium price has been discussed earlier and stands to add a lot of value to Berkeley if it comes about. Broker Peel Hunt assumes in its forecasts that the long-run price rises modestly and stays well below its peaks of the previous cycle. Using conservative funding assumptions it then derives a net asset value of 102p. As well as the uranium price, there’s also upside potential to this valuation from revisions to the size of the ore body. Drilling around Zona 7 suggests the mine’s life could be extended beyond the current 14-year estimate.
02/10/2016
07:58
herlat1: MIDAS SHARE TIPS: Uranium miner Berkeley Energia promises us a brighter futureBy Joanne Hart for The Mail on Sunday22:02, 01 Oct 2016,Midas verdict: Like most pre-production mining companies, Berkeley Energia is unprofitable and is likely to remain so for years. But with 25 years in the industry Atherley knows what he is doing and has the support of shareholders such as BlackRock, Fidelity and Majedie. Analysts forecast the share price will more than double in the next 12 months. Buy.Salamanca is one of the most beautiful, historic towns in Spain. It is also a short drive from the only sizeable new uranium mine being developed in the world today.The mine is run by Aim-listed Berkeley Energia and its shares, at 47p, should rise substantially as the project moves towards production.Uranium is an essential source of nuclear power, yet half the supply comes from Kazakhstan and Niger – the former closely allied to Putin's Russia and the latter politically unstable and mired in poverty.Historic: The square in Salamanca, where Berkeley Energia has a new uranium mine +3Historic: The square in Salamanca, where Berkeley Energia has a new uranium mineNuclear power has been controversial since its inception and the concern raised by new plants, such as Hinkley Point C, highlights continued wariness. Nonetheless, nuclear energy is widely acknowledged to play a vital role in global energy supply, as countries the world over try to wean themselves from an over-reliance on fossil fuels.Berkeley Energia's Salamanca project is set to make a significant contribution to this. The largest uranium mine in Europe and the eighth largest in the world, it has enough to supply the UK's entire electricity needs for five and a half years.The mine is not just large, it will also benefit from very low costs. Most uranium mines are miles from anywhere, with their uranium buried far below ground. At Salamanca, much of the uranium is four metres below the surface, it is high grade and easy to extract. Equally, Spain has been the recipient of billions of euros of European Union incentives (including considerable sums from the UK taxpayer). The Spanish government has put at least some of this cash into national infrastructure, so the roads, railways and power supply around Salamanca are excellent, and export orders can be fulfilled with minimal difficulty.The combination of strong transport links and accessible uranium make Berkeley Energia one of the lowest cost producers in the world. Even the most efficient of its rivals have costs of about $25 per pound while several uranium producers work with costs of $30 to $60 per pound. Berkeley's all-in cost of production is just $15 per pound.Being cheap is always an advantage, but Berkeley's position is particularly beneficial today. Following the Fukushima disaster in Japan in 2011, sentiment turned against nuclear power. Production slowed, new plants were put on hold and the price of uranium slumped from a peak of $130 to just under $25. At this price, most uranium mines are uneconomical, but not Berkeley Energia. And there are clear signs the uranium cycle is on the turn. Some 65 nuclear plants are being built, with China and India, both heavily reliant on coal-fired power stations, especially keen to increase the amount of energy they generate from nuclear power.The US is quietly enthusiastic too. When it comes to uranium, most energy firms take out supply agreements of five to ten years. Many of these contracts come to an end in the next couple of years and Berkeley Energia's chief executive Paul Atherley has received several expressions of interest recently.Last month, the group said it was close to reaching an agreement to supply a million pounds of uranium over five years at a price of $41 per pound to a European trading company that will sell it on to energy firms. The price is more than $16 per pound above the current trading price because most market experts believe that uranium will increase in price over the next few years.This plays neatly into Atherley's plan. The Salamanca mine is set to come into production in the second half of 2018, by which time trading prices should have increased, while long-term contract prices should be higher still.Construction has begun on the mine but Atherley needs another $95 million to bring it to commercial production. An experienced miner, he is determined to avoid issuing cut-price shares to fund the project, and is in discussions with lenders and other third parties, including customers and even other miners to provide the necessary cash.The mine is expected to produce just over a million pounds of uranium in 2018, rising to 3 million the following year and more than 4 million a year thereafter. The group is also exploring around the Salamanca site to expand production and early indications are positive.Midas verdict: Like most pre-production mining companies, Berkeley Energia is unprofitable and is likely to remain so for years. But with 25 years in the industry Atherley knows what he is doing and has the support of shareholders such as BlackRock, Fidelity and Majedie. Analysts forecast the share price will more than double in the next 12 months. Buy.
20/5/2016
20:30
herlat1: QP/kreatureIn response to your two questions:The spot price is US$29 up 15% in a month ( a bit like the BKY share price)and yes i have emailed the Company about the press articles on the appeal.
07/1/2016
10:57
quepassa: herlat1. Do you think Berkeley can raise the necessary $81m if the share price remains at this level? The repeat RNS's and increases to broker share price forecasts are having no discernable effect and impact on the share price in such a highly negative market. What potential investors want to see in my opinion is concrete news on the financing which was again sadly lacking in today's RNS. It is glaring that Berkeley have apparently all the licenses and permits etc etc in place but no concrete news of financing. Where is the money? Resources in the ground are just that without the financial resources to dig them out. Seems to me that we have a classic Catch-22 situation. A higher share price is needed in my opinion for funding. And funding is needed for a higher share price. My guess is that Berkeley's funding plans include raising equity and that, in my opinion, needs a much more buoyant share price which is looking unlikely in my opinion in such a negative market. What's your ( not snowflake's ) view please? ALL IMO. DYOR. QP
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