Berkeley Energia Limited (LON:BKY,ASX:BKY) has received the initial US$65mln tranche of funding for its Salamanca project from the Sultanate of Oman’s sovereign wealth fund.
The payment means that capital costs for production at the Salamanca mine – the only uranium mine under construction anywhere in the world – are fully funded.
Read the full article on Proactive Investors.
WH Ireland has increased its target price for Berkeley Energia Ltd (LON:BKY, ASX:BKY) to reflect the recent financing agreement for the Salamanca project.
The Sovereign Wealth Fund of the Sultanate of Oman is to provide up to US$120m to fully fund the Salamanca mine into production, which WH Ireland analyst Paul Smith thinks is an outstanding achievement in the current environment for uranium explorers.
Read the full article on Proactive Investors.
Berkeley Energia Ltd (LON:BKY) is a London AIM and ASX listed minerals development company. The firm is currently progressing the Salamanca Uranium Project in western Spain, aiming to commence production in the second half of 2018.
“The hard work put in by Berkeley Energia managing director Paul Atherley is pursuing a strategic investment partner to secure the funds to build the Salamanca mine in Spain looks to have paid off big time.”
“Aim-listed uranium miner Berkeley Energia has won $120m (£93m) backing from the sovereign wealth fund of Oman to finance construction of its mine in Spain.”
“The first tranche of cash will come in the form of a $65m loan that will convert into shares worth 50p, giving the fund a 28pc holding in Berkeley. This will fund the remainder of the construction of the company’s mine near Salamanca in northwestern Spain.”
Read the full article on The Telegraph here.
“Spain-based uranium miner Berkeley Energia has received $120m (£92.8m) in investment from Oman’s sovereign wealth fund.
The funding will help the Aim-listed miner finish construction of its Salamanca uranium mine in Spain, where production is set to start in early 2019.”
Paul Atherley, managing director of Berkeley Energia Limited (LON:BKY) tells Proactive they’ve arranged the finance to bring their Salamanca uranium project into production through a US$120mln convertible loan and option package with Oman’s sovereign wealth fund.
Berkeley Energia is pleased to announce that Mr Adam Parker has been appointed as an independent Non-Executive Director of the Company effective 14 June 2017.
Mr Parker joins the Company after a long and successful career in institutional fund management in the City of London spanning almost three decades, including being a co-founder of Majedie Asset Management, which today manages assets of approximately £14 billion.
Read full article in Mining Weekly
