Berkeley Energia Share Discussion Threads

[rotors] 26/10/2018 16:16

The part to be played by the SGRF (Oman) is still to be announced.

Will they pull out of their funding plan?

If not, how much pressure can they bring to bear on the Spanish Government?

Interesting to note that they have a joint investment fund, to include mining (see text):

"2018-06-06
OMAN-SPAIN INVESTMENT FUND PROMOTED BY COFIDES AND THE STATE GENERAL RESERVE FUND OF THE SULTANATE OF OMAN TO BE MANAGED BY MCH

Madrid, 6h June, 2018. The Compañí;a Española de Financiación del Desarrollo, COFIDES and the State General Reserve Fund (SGRF), the Sultanate of Oman’s sovereign wealth fund, have selected MCH Private Equity (MCH) to manage the joint investment fund created by both entities. MCH was selected following a rigorous bidding process that was launched at the end of December 2017.Oman-Spain Investment Fund came in the wake of the MoUs signed in different fields during the royal visit of His Majesty King Juan Carlos of Spain to Oman in 2014.SGRF and COFIDES, the latter acting on its own behalf and as manager of the FCPJ Foreign Investment Fund (FIEX), are the sole investors of the fund (together with the additional commitment of the grantee). It involves a 50/50 joint investment between Omani fund and the Spanish public sector of 100 million Euros, in such a way that COFIDES will contribute 1 million Euros from its own resources and 99 million Euros from the FIEX, which COFIDES exclusively manages on behalf of the State Secretariat for Trade Commerce, attached to the Ministry of Economy, Industry and Competitiveness.The Fund will make investments in companies of Spanish mid-cap groups with international projection plans with the objective of benefiting the interests of both countries with an initial focus on Oman and Spain. The main sectors focus of the Fund are construction materials, manufacturing, mining, tourism, logistics, health, infrastructure, energy and food-agri business.

The Fund will allow Oman to benefit from the experience and technological knowhow of Spanish companies through the creation of employment, technology transfer and investment profitability. It will also provide Spanish companies with a new financing instrument to encourage their expansion abroad, the consolidation and growth of the parent company and, at the same time, contribute to the development of Oman and Spain".

[quepassa] 25/10/2018 08:53

This is what Berkeley announced last week:

"The Company has contacted both the Nuclear Safety Council and the Energy and Environment Ministry seeking immediate clarification of these reports and will make an announcement as soon as a response is received."

A week later and no update and presumably no response received by Berkeley.






ALL IMO. DYOR.
QP

[outsizeclothes.com] 24/10/2018 12:47

Hi langostino. Put the url this way and it's clickable ;-)

[langostino] 23/10/2018 08:57

hxxps://www.europapress.es/castilla-y-leon/noticia-stop-uranio-critica-oscurantismo-trato-favor-pp-empresa-minera-berkeley-20181022203315.html

[quepassa] 23/10/2018 08:38

Spanish press reports yesterday evening??

[mr macgregor] 21/10/2018 16:49

If Spain becomes uninhabitable due to global warming, the people voting against the mine will no doubt want to migrate north. They don't appear to want to help themselves at this time, and as we are likely to have our own border controls by then presumably we won't be bound to accept them. Have they thought it through?

[ukgeorge] 19/10/2018 15:16

Sold half of what I bought at 17.65p, will keep the rest a bit longer.

[ukgeorge] 19/10/2018 15:14

Might have to sell some :) 25% up hehe

[the deacon] 18/10/2018 14:11

Agreed. Needs to be put to bed either way, asap.

[ukgeorge] 18/10/2018 14:04

These are from the LSE board quite positive


It is quite shocking that someone can be able to not be named and be used as a source for a piece of news that can move a share price so dramatically. It is market manipulation. If it proves to be true or false it is should not have been leaked to the market in such a way.

[ukgeorge] 18/10/2018 11:51

Is there a Spanish hippy on here that keeps voting my posts down? Really starting to hurt my feelings.....

Perhaps they would like to write something interesting.

[bhoddhisattva] 18/10/2018 11:39

The image of them at it - they were once a couple apparently - is one I try my best to block out ...

[ukgeorge] 18/10/2018 09:35

as balanced an article as having Dianna abbot on one side of a seesaw and jeremy corbyn on the other end.

[langostino] 18/10/2018 09:23

hxxps://cronicaglobal.elespanol.com/business/berkeley-empresa-australiana-cotiza-espana-mina-fantasma_192155_102.html

[toyin] 17/10/2018 17:49

papillon. Don't blame other people for your losses.

[outsizeclothes.com] 17/10/2018 16:57

Or are we in an "African" situation, where the mine is refused, but 6 months down the line some local company with well connected owners take everything over and are granted licences ?

[outsizeclothes.com] 17/10/2018 16:54

Interesting Rougepierre.
But I suppose it's not beyond possibility either that, in a deeply corrupt country, a newspaper "leaks" a story to allow Spanish insiders buy a slug over the next few days. Then the "leak" proves false / unfounded.
All without any Govt. agency actually doing anything, or announcing anything, al all.
It will also be interesting to see the reaction of "ordinary" Spanish investors "stung" by this story.

[rougepierre] 17/10/2018 15:49

Can't see any way out of this...but Spain will end up panic stricken, failing to meet climate change targets and/or running out of energy...

But while BKY may have 100m in cash they also have an outstanding convertible loan from Oman which is of a greater scale. Now while the equity convertible terms are 4x the current price, if Spain rules against this licence indefinitely I can see Oman cancelling its Sovereign Wealth Fund partnership and demanding their money back from BKY. The conversion expires in December 2021. If the Loan matures at that date also, BKY are bust.

Is there a 'force majeure' clause in the CL agreement? If there is, BKY goes into admin immediately it is enforced.

Now I'm not a bear of BKY. I held them for ages but sold at 36p when I started to see the writing on the wall.

And its not as if Spanish hot money is betting on a favourable outcome. The low for today is 15 cents (13.18) and although they have traded as high as 21 cents when the BKY announcement was made, they're currently 17 cents...

You pays your money....

Even Germany is looking again at nuclear, as they rely massively on Russian gas in a targeted zero carbon EU...

Meanwhile, nuclear is the cleanest combustible fuel on the planet...

You work it out...

If you're looking to recover some money, have a look at DGR Global (ASX:DGR). They own 204 million SOLG shares (worth £82m) plus 5 other 'tier one' plays; MCap is only £46m.

AIMHO as usual and GLA...

[langostino] 17/10/2018 15:07

For those who follow these kind of details the second most important member of the ruling party is PSOE President Cristina Narbona, previously Minister of Environment in the Zapatero government. It was she who as a CSN delegate in 2015 memorably dissented from a then favourable ruling with the words 'It is repugnant to me from a moral point of view to restart uranium mining in Spain.'
Arguably she is now the most powerful woman in Spain and married to the current Foreign Minister.

Here is a reminder from a few months ago

[alexios1201] 17/10/2018 14:10

Gone bust?

[tsmith2] 17/10/2018 13:00

Paul Atherley..murchison resources, with those with long memories..