Berkeley Energia Share Discussion Threads

[pugugly] 13/7/2021 12:55

Need a far larger discount if going to law before I would be tempted - A bit like the FOX claim -

Takes far longer and costs far more than expected -

[yus777] 13/7/2021 12:43

should see a reasonable bounce to 17p plus

[zen12] 13/7/2021 11:44

Apologies meant to say 500M euros.

[swanvesta] 13/7/2021 11:35

Hence diluted cash per share is around 10p.

[swanvesta] 13/7/2021 11:33

Alexios, convertibles are not options - the $65m loan will be converted into shares at the rate of 27p per share. There won't be any cash due, it's already been paid! They could get cash from the $55m of options, but the strike is 85p so highly unlikely to be exercised.

[alexios1201] 13/7/2021 11:26

€500million claim against Spain

[zen12] 13/7/2021 10:59

It appears fairly clear they've gone against their constitution...hugh legal challenge will be made here some mentioning €50 Million!

[alexios1201] 13/7/2021 10:28

Cash will be closer to £93m on cln at 27p conversion.So total cash tops up and will he equivalent to 21.3p

[zen12] 13/7/2021 10:25

MMs thankyou! Now watch this bounce and RNS also incoming...

[the canadian mounted] 13/7/2021 10:23

Talk about overdone 😆😆😆

[the canadian mounted] 13/7/2021 10:22

Thanks mms

[zen12] 13/7/2021 10:21

Fill ya boots 10p hit....absolute bargain. Glad to have bought!

[swanvesta] 13/7/2021 10:17

Cash is actually 10p once you allow for impending dilution through the convertible.

[yus777] 13/7/2021 09:46

is it heading 11p

[alexios1201] 13/7/2021 09:44

16.6p cash equivalent Defo worth a gamble Manage your risk level

[the canadian mounted] 13/7/2021 09:43

My money’s in

[the canadian mounted] 13/7/2021 09:43

Way oversold

[alexios1201] 13/7/2021 09:35

Article from last February €500million claim incoming

[alexios1201] 13/7/2021 09:35

https://sightlineu3o8.com/2021/02/berkeley-threatens-to-claim-500-million-euro-from-spain-if-proposed-uranium-mine-vetoed/Berkeley threatens to claim 500 million euro from Spain if proposed uranium mine vetoedPressure mounts around controversial Retortillo uranium mine project in Spain as Berkeley Energia threatens to claim EUR 500 million (US$603.45 million) from the Spanish government if proposed climate law jeopardizes authorization for Retortillo.Local media sources reported yesterday that Francisco Bellón, president of Berkeley Spain, advised that they will activate all the legal mechanisms at their disposal if an amendment to the climate change law that threatens to veto uranium extraction throughout the national territory, which is now pending in parliament, is greenlighted.Earlier in January, the Salamanca Provincial Council has decided to terminate the collaboration agreement with Berkeley Energia, signed in September 2016, for the "construction of a variant on the SA-322 road (DSA-451)."In December 2020, the Supreme Court of Spain dismissed an appeal against authorization for Berkeley Energia's Retortillo uranium mine project, located in western Spain, about three hours west of Madrid.The Supreme Court has confirmed the prior authorization granted by the Government to Berkeley Minera Spain for its uranium concentrates plant in Retortillo (Salamanca), after rejecting the appeal submitted by Foro de Izquierdas – Los Verdes and Adeco – Ecologistas en Acción groups.In July 2016, Berkeley published the results of a definitive feasibility study confirming that the Salamanca project will be one of the world's lowest cost uranium producers, capable of generating strong after-tax cash flows through the current low point in the uranium cycle.The project has NPV of US$531.9 million with an internal rate of return of 60% based on a discount rate of 8%.Source: Kitco News

[mr macgregor] 13/7/2021 06:58

An odd decision given the Spanish are European favourites to fry first.

[wiseacre] 12/7/2021 21:59

Those still in this stock have been repeatedly warned that today's news was inevitable and have only themselves to blame for their losses.

[danmart2] 12/7/2021 16:44

Next elections 2023, BKY must wait patiently and build bridges with the opposition parties.

The current Spanish government are no friends of BKY

[quepassa] 12/7/2021 14:14

Spain is currently governed in a coalition government between the PSOE and Podemos, under Prime Minister Pedro Sanchez who at the weekend announced a reshuffle of his left-wing government.

The PSOE stands for Socialist Party and Podemos is a hard-left party.

Podemos is staunchly anti-nuclear and has for some time been campaigning for Spain to sign The Treaty on the Prohibition of nuclear weapons.

Whilst I personally believe that uranium is an invaluable resource for green energy production and I hope Berkeley get their approvals, today's news doesn't surprise me.

As I mentioned before, in my view it's all about the politics and not really the business case/rationale. Earlier posts refer.

Until there is a change in government to the right, I hope I am wrong but in my opinion there is barely any chance now that Berkeley will get an approval in the foreseeable future.

Good Luck All.

ALL IMO. DYOR.
QP

[alexios1201] 12/7/2021 14:00

Permitting UpdateBerkeley Energia Limited ("Berkley" or the "Company") notes that the Board of the Nuclear Safety Council ("NSC") has issued an unfavourable report for the grant of the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ("NSC II") following a board meeting held today. The Company has not received any official notification from the NSC however, it notes that the outcomes of the NSC board meeting have been published on their website.The Company is extremely disappointed that the NSC has reached this decision and strongly refutes their assessment. As previously reported, all documentation submitted by the Company in relation to NCS II has been prepared following advice from independent, nationally and internationally recognised advisors and consultants who are experts in their field. Since the commencement of the process in 2016, the NSC has to date held six meetings with the Company and on seven occasions requested additional information in relation to NSC II; which the Company has promptly responded to with updated information. It is also important to note that, in the Company's view, a large part of the additional information requested by the NSC relates to the Authorisation for Operation for the uranium concentrate plant as a radioactive facility ("NSC III") which should only be dealt with following the award of NSC II. However, to ensure the process was conducted in a collaborative manner, the Company provided its responses to the NSC as requested.It should also be noted that more than 120 previous permits and favourable reports have been granted by the relevant authorities at the local, regional, federal and European Union levels in relation to the Salamanca project, among which nine have been from the NSC. NSC II is the only pending approval required to commence full construction of the Salamanca mine.The Company will strongly defend its position and will immediately consider the range of legal options available to it in relation to the adverse decision by the NSC.The Company will continue to update the market on any material developments.

[alexios1201] 12/7/2021 13:41

https://www.eleconomista.es/energia/amp/11320510/El-CSN-tumba-el-proyecto-de-Berkeley-en-Retortillo?__twitter_impression=true