Berkeley Energia Share Discussion Threads

[herlat1] 11/7/2017 16:59

Rough translation of Expansion article:"Spain has the potential to be in the Champions of mining world"Paul Atherley, Managing Director of the international group Berkeley Energia, talks with passion about Spain, a country that "he adores and admires", beyond their economic potential within the sector where the company operates: modern mining. "Spain can be a leader in many things, " he explains. Atherley doesn't only just love Spain. In addition, he breaks many of the clichés that surround this country. "The worst is that there is a perception [Inside and outside] that the bureaucracy doesn't work, it's slow, but that is not true, " Says Atherley in an interview With EXPANSION just a few days before the company he manages prepares to take a decisive step in its bet for Spain. Berkeley has been developing the so called Project Salamanca, an ambitious investment Plan of around 300 million to extract uranium In the area of Retortillo, in said province. "The fact that a project will take years to see the results is normal in this sector", says Atherley.Berkeley Energy is close to reaching a milestone in its project within the Community Of Castilla y León. Construction of the actual mine will start soon with the arrival Of complex machinery That is needed for it. So far, almost 70 jobs have been created, number Which will increase to 150 when construction begins. PoliticsThey leave behind the numerous obstacles that came from different areas linked to the most radical left wing political parties that have tried to put on the development of the project under flag of the alleged of environmental defense. The project, which is being developed in collaboration with companies Such as OHL and Ferrovial, is the great asset of Berkeley, a company listed on London and that is an example of modern mining developing in Spain. The company, of Australian origin, is listed in London "because it is easier to obtain venture capital financing over there", Atherley explains.Investment Funds The group, whose capital is in Hands of entities such as HSBC, JPMorgan, Merrill Lynch and Citi, among others, is not an isolated case. In recent years, several foreign groups have arrived to Spain, which are listed in United Kingdom, Ireland, Canada or Australia, such as Inmet, Lundin, Iberian Minerals, Ormonde, Asturgold, Emed Mining and ICL, which Reinvented mining in Spain. They no longer seek coal, but Gold, silver, copper, nickel, Zinc, tungsten and potash, in addition Of uranium "Spain could be in the Champions of Mining World," Atherley says, if there was less Reluctance from some areas, And even - he goes on to insinuate that the Spanish should remove its complexes.-"When I came to Spain eleven years ago - when the project of Retortillo started - and I went to Salamanca With German colleagues, These seemed to get annoyed because, they said, Spain had Better motorways than Germany, "he says. The truth "is that Spain Works, they are building things ", and an economic step Leads to another: "If tourism in Spain is growing It's because it has great Infrastructure ". Therefore, they could keep moving forward.Nuclear defense For example, he says, it doesn't make sense and it's "ridiculous" that "United Kingdom [where there is little Sunlight] have more solar plants than Spain", says Atherley, who declares himself as a defender of an energy mix balanced where nuclear energy plays an essential role. "Any country, any economy, needs nuclear ", he says. In fact, 26% of the energy in Europe is nuclear, which is actually the only source of energy with "zero emissions ". Even countries such as Germany that have refused to have nuclear power plants, have to import electricity from France, where more than 80% of the light comes from nuclear power plants. 2,500 jobs and the future of a region at stakeThe uranium mining project developed by Berkeley in Salamanca has had to face numerous Criticisms such as the one who came from some areas under the environmental flag, or the policical ones, for the signing of Manuel Lamela as an adviser, who held different positions with the PP. The attacks haven't stopped what for an entire region, the Yeltes (Salamanca), is an historical economic opportunity. This area is an example of how a company can change the economy of an entire region. So far, Berkeley has received 21,414 applications for employment for the Salamanca Project. Of these, "366 are of the local villages, such as Villavieja, Sancti Spiritus, Villares de Yeltes and Bañobárez, among others ", explains Paul Atherley, who remembers that some of these municipalities were suffering brutal depopulation. Villavieja Of Yeltes, who had 2,500 inhabitants in the fifties, now has about 600.Taking care of the locals "The nearest gas station is 20 kilometers away ", they explain at Berkeley, who have been taking care of the inhabitants of the area. Of the Direct jobs that Berkeley now has, 68 are from Inhabitants of Villavieja, Retortillo and other municipalities of the region. So far, "Berkeley has invested over 75 million of euros in the last decade "to develop the Salamanca project under "The highest standards of Health, safety and environment Environment, "says Atherley. "And we will invest another 250 Million in the next years" he added. More than 2,500 direct and indirect jobs will be created as a result of that investment, Berkeley says.

[herlat1] 11/7/2017 14:55

Well spotted Piedro!

[rotors] 11/7/2017 12:44

Good spot Piedro.

This from The Times (repro with thanks) not such good reading...

'A row has broken out in Paris after the French state-backed group building Britain’s new nuclear plant was ordered to scale down its production of atomic energy in France.

Nicolas Hulot, minister for ecological change, said that EDF would have to close up to seventeen reactors over the next eight years under a government plan to reduce the country’s dependence on nuclear power.

His announcement unnerved investors and EDF’s share price fell almost 2 per cent to €8.57 in afternoon trading in Paris, its lowest value since May.

EDF has been lobbying to extend the life of its 58 reactors in France. It is also leading the project to build two new-generation European pressurised reactors at Hinkley Point in Somerset, at a cost of £20.3 billion, to supply 7 per cent of Britain’s electricity needs.'

[piedro] 11/7/2017 12:07

PROYECTO MINERO DE BERKELEY
El juez declara inocentes a los concejales de Retortillo acusados por la gestión de la mina


... the mayors who were accused of favouring Berkeley are found innocent

AND,


... a manifestation in support of the project

- looks like the STOP is being stopped.

[marvelman] 11/7/2017 10:56

Wiseacre

Pretty pointless pasting a page that most of us here haven't a clue about what it says...can you supply the Google link so that we get the translation?

[piedro] 11/7/2017 10:47

wiseacre - could you accommodate your 'pasting' to make it more readable .....
.... please.

[wiseacre] 11/7/2017 09:42

Interesting that such a major institution as Fidelity is taking advantage of the weak stomach's of some retail investors.

[goodgrief] 10/7/2017 08:07

"Still, not bad news for BKY; the more supply side destruction the better!"... that's what I was thinking. So good news!

[piedro] 10/7/2017 07:55

LOL

The reason why I posted that elsewhere, [APY], was for this part ...

Russian state corporation suspends $1.2 billion uranium project in Tanzania
...
In December 2010, Rosatom agreed to buy Mantra Resources Ltd. for A$1.16 billion ($1.15 billion), giving it the Australian-based company's Tanzanian assets, including Mkuju River uranium deposit.
...


- in which Mr. Paul Atherley was involved

[bookwormrobert] 10/7/2017 07:12

Hi GoodGrief! That news is also due to Tanzania now being such a hostile place for any kind of mining - see the troubles of Acacia and the new confiscatory mining laws. Still, not bad news for BKY; the more supply side destruction the better!

[goodgrief] 09/7/2017 23:30

Russian state nuclear corporation Rosatom suspends Mkuju River uranium project in Tanzania for at least three years due to depressed uranium market http://www.mining.com/russian-state-corporation-suspends-1-2-billion-uranium-project-tanzania/?utm_source=digest-en-mining-170707&utm_medium=email&utm_campaign=digest%20Off%20Topic

[rhuvaal2] 07/7/2017 18:57

Plasbryn ~ thanks for that which confirms my positive stance: a full holding now :)

[plasybryn] 07/7/2017 17:41

Fidelity have increased their holding of BKY to 9.75%.

[liambilson] 07/7/2017 17:32

Doesn't seem to bother Fidelity

[bookwormrobert] 06/7/2017 13:14

Langostino - stop throwing dust in people's eyes to further your own agenda. There is no question that this mine will go ahead as long as the financing is completed in the next couple of months; Euratom, the Spanish government, and the regional authorities all want it to happen. Also, the CSN report (which isn't all that important anyway) will be issued far sooner than the end of next year. All in all, I find it very disappointing that the so-called "greens" are not only badly mistaken in their attitude to this very green project, but that they also resort to dishonest tactics such as fake news.

[herlat1] 06/7/2017 13:08

Lango interesting that your green friends have guided you to next year's csn stage 2 approval. So it is no longer the trees or the land acquisitions or the finance etc that you have previously posted as the insurmountable obstacles - we now have a clear run to the middle of next year when the project will be half built? Good news i would have thought.

[langostino] 06/7/2017 12:27

Politicians and the judiciary would rather this went away until the CSN report is issued towards the end of next year. If like the Man from Del Monte they say yes opposition will melt away. If they are negative, the game is up. In the meantime expect lots of noise from the greens and watch the establishment keep its head down. IMO this is a binary bet on whether the CSN want to take responsibility for allowing a uranium mine in their back garden. Meanwhile there will be lots of diversionary RNSs like today's to keep shareholders awake.

[marvelman] 06/7/2017 09:39

Agree with both those comments rvsy...these markets being so jumpy has likely influenced my instincts unduly more than they should have.

[rvsy38] 06/7/2017 09:29

Marvelman - at current price I see very limited downside compared to upside which is why I have added recently. However one should respect ones instinct .

[marvelman] 06/7/2017 09:24

Fair comment Robert. I may be overly cautious but still believe this to be a great story. I am sure to be back in soon but will wait for my instinct to tell me when....

[bookwormrobert] 06/7/2017 09:18

Hi Marvelman, I've got to disagree here. That RNS had to be issued - you can't proceed to closing financing without a firm calculation of the capital required. Moreover, it was clearly flagged as coming by Paul Atherley a couple of weeks ago.

[the foxthe fox] 06/7/2017 09:17

Berkeley Energia

CAPEX COST REDUCED: Salamanca Capital costs reduced by 1% to EUR 82.3M. Read announcement:

Berkeley's new corporate presentation is available on hxxps://www.berkeleyenergia.com/wp-content/uploads/2017/07/4101-BKY-Presentation.pdf

Berkeley Energia is hosting an investor evening in July. For more info and registration, please contact Cassiopeia Services at [e-mail]