Berkeley Energia Share Discussion Threads

[piedro] 10/5/2016 17:25

kreature,
They will have to pay upfront if they want the royalty .....
.... and if the permissions are not granted, there will be no royalty

Anglo Pacific Group paid A$4,137,500 for a "... 1% Net Smelter Royalty ("NSR") on all future uranium production from the Spanish and Portuguese properties owned by Berkeley Resources Limited ("Berkeley") ...
... As part of the royalty acquisition the Company also agreed to purchase from the MRA shareholders 750,000 ordinary fully paid shares for A$862,500, subject to completion."
RNS - 15/01/2010

[herlat1] 10/5/2016 16:31

Good point QP(kreature)..Meanwhile over 500k shares bought on mkt so far today.

[kreature] 10/5/2016 16:26

surely a 'net smelter royalty' will only be of value if permissions are granted to start mining? So I would imagine that the 'final documentation' (and therefore the further 5m) may have to wait until then

[herlat1] 10/5/2016 16:14

Well spotted QP(kreature) i am sure you are right and we can look forward to the announcement of when this is finalized.

[kreature] 10/5/2016 15:58

Hang on a minute.....the further 5m is 'subject to final documentation'.

[herlat1] 10/5/2016 15:26

Berkeley Energia Limited (LON:BKY) confirmed on Tuesday that it has pulled in US$10mln of new financing at a 15% premium to the current share price, with existing shareholder The Resource Capital Fund (RCF) putting up half the cash.

[herlat1] 10/5/2016 14:33

Mining Journal: The ascent of Berkeley Energia AIM and ASX-listed Berkeley Energia is on a role with development of its Salamanca uranium project in Spain – the latest fillip is a royalty financing deal with key shareholder Resource Capital Funds. Earlier this year, a bullish Berkeley disclosed an improvement in grade and contained tonnes at the Retortillo deposit, cheering shareholders. Prior to that, there was relief following regulatory clearance for the project in a country where miners have been long-fingered in the past. So it's all going rather well. The royalty financing arrangement with RCF will see the fund manager boost its stake in the company with an equity financing issued at a premium to the current share price. The US$10 million cash infusion will allow Berkeley to advance infrastructure work and exploration programmes ahead of the main development financing, expected during the second half of 2016. Berkeley said: "The financing comprises an issue of US$5 million worth of ordinary shares at a price of 32 pence per share which represents a premium of 9% to the 10-day VWAP (volume weighted average price) and 15% to the 30-day VWAP, highlighting the strength of the project and its robust economics even at the current low uranium prices." RCF has also agreed to provide an additional US$5 million though the sale of a 0.375% fully secured net smelter royalty over the project, subject to final documentation. The decision to issue a royalty is in line with Berkeley's focus on minimising dilution for its shareholder base. Managing director, Paul Atherley said: "The funding will allow us to target a number of the high value exploration targets looking for additional Zona 7 style deposits over the next few months." The high-grade Zona 7 was said to have transformed the economics of the overall project, with directors claiming it could now become the lowest cost uranium mine in the world. RCF's stake in the group will rise from 7.2% to 12.4% when the transaction is completed. Berkeley is valued on ASX at A$105 million (US$68 million).

[herlat1] 10/5/2016 14:32

Mining Journal: The ascent of Berkeley Energia AIM and ASX-listed Berkeley Energia is on a role with development of its Salamanca uranium project in Spain – the latest fillip is a royalty financing deal with key shareholder Resource Capital Funds. Earlier this year, a bullish Berkeley disclosed an improvement in grade and contained tonnes at the Retortillo deposit, cheering shareholders. Prior to that, there was relief following regulatory clearance for the project in a country where miners have been long-fingered in the past. So it's all going rather well. The royalty financing arrangement with RCF will see the fund manager boost its stake in the company with an equity financing issued at a premium to the current share price. The US$10 million cash infusion will allow Berkeley to advance infrastructure work and exploration programmes ahead of the main development financing, expected during the second half of 2016. Berkeley said: "The financing comprises an issue of US$5 million worth of ordinary shares at a price of 32 pence per share which represents a premium of 9% to the 10-day VWAP (volume weighted average price) and 15% to the 30-day VWAP, highlighting the strength of the project and its robust economics even at the current low uranium prices." RCF has also agreed to provide an additional US$5 million though the sale of a 0.375% fully secured net smelter royalty over the project, subject to final documentation. The decision to issue a royalty is in line with Berkeley's focus on minimising dilution for its shareholder base. Managing director, Paul Atherley said: "The funding will allow us to target a number of the high value exploration targets looking for additional Zona 7 style deposits over the next few months." The high-grade Zona 7 was said to have transformed the economics of the overall project, with directors claiming it could now become the lowest cost uranium mine in the world. RCF's stake in the group will rise from 7.2% to 12.4% when the transaction is completed. Berkeley is valued on ASX at A$105 million (US$68 million).

[philjeans] 10/5/2016 14:01

steady as a rock despite the scare stories!

time to add again methinks

[herlat1] 10/5/2016 12:15

Haha QP they very obviously dont need them! They have existing major shareholders who happen to be the biggest mining funds in the world and they are willing to pay a premium!!

[quepassa] 10/5/2016 12:11

So why no NEW investors?

ALL IMO. DYOR.
QP

[herlat1] 10/5/2016 12:02

QP thats right an existing shareholder paying a premium who just happens to be one of the world's biggest mining funds and after extensive due diligence. This closely follows Blackrock going substantial by buying on market. Both of which suggest that all your posts about Spanish elections, greenies etc preventing any funding coming in is simply not correct.

[quepassa] 10/5/2016 11:14

Re today's RNS....





Pretty poor show all round in my view.

Is that it?

The "data strong room" has been hyped and open to investors for up to 6-8 months or so. Indications of good interest from investors, strategic Partners, off-take partners.....etc etc etc. -So where are they??


And this is it after some 6-8 months?

An existing investor! They've gone back to the same old trough. Feeding out of the same fruit bowl again.

No new investor. No new money from different sources.

They appear to have raised less than £3.5m by issuing equity which brings with it commensurate dilution for existing shareholders.

- and another £3.5m for a royalty SUBJECT TO FINAL DOCUMENTATION.

So where are all the other investors, the new ones that have been bashing down the door into the Data Strong-room?

Doesn't sound very encouraging to me.

Actually, it sounds to me, in my view only, that they have demonstrated that they have been unable to find any acceptable new investors after 6-8 months.


ALL IMO. DYOR.
QP

[quepassa] 10/5/2016 11:06

Dunno why you are attacking me personally herlat1. Not a good idea. I have been quite tame with you until now.

I will post shortly with my take on today's RNS.

ALL IMO. DYOR
QP

ps. my personal experience with El Pais is that I read it occasionally. Just as perhaps you read Beano and Dandy.

[herlat1] 10/5/2016 10:50

Major shareholder backs Berkeley Energia with financing at a premiumQP(kreature) you claim you cant open a short.. that is lame! Anyone can open a short - Blackrock and RCF will lend you stock any day of the week. Go ahead - fill your boots.QP - despite RCF being one of the world's biggest mining funds they obviously dont have your 'personal experience' with El Pais (nor access to Google translate :-)) and must have missed the Spanish elections and the greenies protests.. maybe you can email them?"The financing has been completed following several months of extensive due diligence by RCF and its advisors across all technical, economic, social, environmental and permitting aspects of the project and the investment at a premium is testament to the quality of the Salamanca project."Major shareholder backs Berkeley Energia with financing at a premium Berkeley Energia hits another important milestone as it announces that Resource Capital Funds (RCF) has demonstrated its strong support for the Company with a royalty financing and by increasing its stake in the Company with an equity financing issued at a premium to the current share price. The US$10 million financing allows the Company to progress major infrastructure work and exploration programmes ahead of the main development financing which is expected to be undertaken during the second half of 2016. The financing comprises an issue of US$5 million ordinary shares in the Company at a price of 32 pence per share which represents a premium of 9% to the 10-day VWAP and 15% to the 30-day VWAP, highlighting the strength of the project and its robust economics even at the current low uranium prices. RCF has also agreed to provide an additional US$5 million though the sale of a 0.375% fully secured net smelter royalty over the project, subject to final documentation. The decision to issue a royalty is in line with the Company's focus on minimising dilution in order to protect the equity value of its shareholders. Managing Director Paul Atherley commented: "The funding allows us to undertake the initial infrastructure development ahead of the commencement of main construction and financing later in the year. In addition it will allow us to target a number of the high value exploration targets looking for additional Zona 7 style deposits over the next few months. The results of the optimisation studies being undertaken as part of the definitive feasibility study to be published in the next couple of months are expected demonstrate the Salamanca project's robust economics even at the current low uranium prices." The financing has been completed following several months of extensive due diligence by RCF and its advisors across all technical, economic, social, environmental and permitting aspects of the project and the investment at a premium is testament to the quality of the Salamanca project. RCF is one of the Company's largest shareholders holding around 7.2% of the issued capital. Since inception, RCF has supported 148 mining companies, with projects located in 47 countries and across 29 commodities.

[kreature] 10/5/2016 08:36

So it's really 5m with the other 5 subject to whatever? and I still can't open a short at ig :(

[langostino] 09/5/2016 19:42

hxxp://www.elconfidencial.com/elecciones-generales/2016-05-09/podemos-izquierda-unida-acuerdo-confluencia-26j_1196840/

IMO political risk to this project has increased today as IU/Podemos join forces to fight the June 26 election which, according to opinion polls would put them in second place ahead of the traditional socialist party(PSOE), possibly leading to a coalition of the left with the radical wing in control. I do not believe that would be a favourable result for investors here.

[quepassa] 09/5/2016 19:23

How much of their personal money have the Directors put into the Company over the same time period as BlackRock?

You just don't understand the implications of the El Pais article.

You are too thick.

ALL IMO. DYOR.
QP

[kreature] 09/5/2016 19:06

Has anyone managed to open a short position on BKY yet, and if so where? Thanks

[laptop15] 09/5/2016 18:40

Do u think Blackrock would buy over 9 million shares if they thought the stupid spanish green parties would be able to stop this operation from going ahead!!QP i suggest u take note of this! I would think they have researched berkeley a bit more than you with this kind of investment! They don't seem bothered one bit.Anyone else should think on adding now while its still cheap!

[herlat1] 09/5/2016 10:25

Thanks PiedroNice to see Blackrock going substantial.

[piedro] 09/5/2016 09:07

ASX:BKY
Becoming a substantial holder


herlat1,
FWIW - I don't hold any LSE:BKY

[herlat1] 09/5/2016 06:44

True QP. Your claims to have 'personal experience' with El Pais when you need Google translate to read the Spanish needed a response. :-)

[quepassa] 08/5/2016 21:12

Three responses!

You are working overtime tonight.

You have a wonderfully vivid imagination. You do make me larff.

What will it be next? Reds under the bed and fairies dancing at the bottom of the garden?

ALL IMO. DYOR.
QP

[herlat1] 08/5/2016 20:31

By the way QP the article says that the green groups are appealing against the rejection of their first appeal! But you knew that.