Sunday 20 January 2019 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
VAST – having promised no more death spirals and then done one with no conversion notice within 30 days…….. WTF, Nomad Fatty?
I am contacted on twitter, as you can see below, by a man claiming to live in Spain who opposes Berkeley Energia (BKY) and its plans to create thousands of jobs at Salamanca. I do not wish to deny the poor the dignity of work this chap does. Follow the thread for it ends with a clear threat - I should stay away from the project...
Berkeley Energia (BKY) has updated that it “has been advised by the Nuclear Safety Council that it was not the source of the widely circulated media reports that the government was intending to deny the permits for the Salamanca mine” and “is continuing to work with the Nuclear Safety Council in progressing the necessary approvals for the Salamanca mine”…
A latest quarterly report from Berkeley Energia (BKY) includes “the government of the region demonstrated its continued support for the Salamanca mine in June when it rejected a resolution from opposition groups requesting that the company's potential €250 million investment be halted”, though also there’s been “issued a notice to the municipality recommending that the Urbanism Licence should not be awarded until two outstanding items regarding the licence are resolved”…
A Buy at a 20p offer price share tip in September 2015, the gain on shares in Berkeley Energia (BKY) was banked at a 56p bid price in October 2016 on a 20% one day rise thanks to a newspaper tip. At that point we noted how we could see how, on a fundamental basis, the shares are worth 100p+ looking at the numbers thrown off by the definitive feasibility study and that we may re-enter if the shares come back allowing us to buy with a margin of error. The company has since made significant progress, but the shares not and so…
This panel was chaired by our own Gary Newman and featured uranium cheerleader Paul Atherley of Berkeley Energia (BKY), coal bug Andrew Bell of Regency Mines (RGM) and waste to power enthusiast Keith Allaun of Powerhouse Energy (PHE).
It is time for Steve Moore's favoured play in the mining sector, Berekely Energia (BKY) headed up by Paul Atherley
Berkeley Energia (BKY) was once one of the more popular shares on AIM, and there was plenty of interest as its share price rose steadily on speculation.
One of my two tips of the year, Berkeley Energia (BKY), has announced half-year results – these for its period ended 31st December 2017…
Shares in my first tip of the year for 2018, Berkeley Energia (BKY) remained around the 57p offer price until starting to drift last week and continuing this. The company has updated with a quarterly report…
I like Paul Atherley of Berkeley Energia (BKY). He is honest, likeable and capable and runs a company that looks very interesting indeed - yes we have a few shares!. That puts him in the 1% as far as AIM bosses go. And so here is a message he put out today,. If you are bored and fancy a drink next week and happen to be in the hell hole that is London...what Paul says in their message should get you excited about his company. Over to Mr Atherley...
Recent results from Berkeley Energia (BKY) emphasised it’s “focussed on developing Europe's largest uranium project, the Salamanca mine” and a “US$120 million sovereign wealth fund strategic investment to bring Salamanca into production”. The end August announcement of the latter helped the shares return above 50p, but they have currently slid back to 47p…
Those who heard Paul Atherley of Berkeley Energia (BKY) on the main stage miners session at UK INvestor Show 2017 will be well versed in the uranium bull case. Paul is booked in to be back again in 2018 for a refresher but I need no convincing, we have a few of his shares just in case. Meanwhile here is another crash course on why you need uranium exposure.
In this video from the storming success that was the 2017 UK Investor Show, Paul Atherley, Managing Director of Berkeley Energia (BKY), is at the podium. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
In this video from the storming success that was the 2017 UK Investor Show, in the 'Dragon's Den' companies have a 60 second pitch to Gary Newman, Tom Winnifrith, and Steve Moore for three £1,000 investments. This fifth and final round features Concepta (CPT), Sanderson (SND), Kefi Minerals (KEFI), BlueJay Mining (JAY), and Berkely Energia (BKY). And make sure that you keep April 21 2018 free for next year's UK Investor Show.
In the disclosures at the back of Tuesday's detailed buy note on Berkeley Energia (BKY) by Peel Hunt which the broker wants me to take down, it states that the company is a corporate client but does NOT say that "5. Peel Hunt is Broker to this Company and therefore provides investment services to the Company" As it happens it is joint broker.. The note is HERE and as you can see with the shares at 47p Peel Hunt said that they were a buy worth 98p to 159p Three days later there is a placing of $25-30 million at 45p and guess who is building the book?
Peel Hunt, which is no joke as a broker, has initiated its coverage of Berkeley Energia (BKY) at 47p with a claim that the shares should hit 159p. It argues that "Berkeley’s development plans show a high IRR due to the low capital requirements, high margins and attractive cash generation. The location in Spain provides a strategic advantage in geopolitical security which is sought-after by off-takers. We therefore initiate coverage with a Buy rating and a 93p R-NAV,our short-term target. As the company progresses through permitting, financing and development milestones, we would expect the shares to trend towards our 159p NAV."
This is not a bad video and is quite interesting on both the market and also the very clear bull case for Berkeley. It is short as well so if you are a Berkeley Energia (BKY) fan it is well worth watching.
The only matter of note in the Berkeley Energia (BKY) annual report for the year to June 30th 2016, in terms of financials, is cash and trade receivables. They totalled $18.6 million which is a very comfortable position to be in. What is really interesting are the footnotes. We quote:
Berkeley Energia (BKY) has announced it has signed a Letter of Intent relating to the sale of the first million pounds of production from its Salamanca uranium project – with an average contemplated price of above $41 per pound comparing with the current spot price of around $25 per pound. Way to go!. No wonder we are c150% up on this share tip!
We already know that Berkeley Energia's (BKY) Salamanca uranium resource in Spain is commercial so does it really matter if it serves up more good drill grades?
We tipped Berkeley Energia (BKY) at a 20p offer - the shares are now 48p-49p so I hope there are no complaints out there on this tip. What next? The most recent news of note was the Quarterlies. The actually numbers are academic but the only paragraph that matters states:
We tipped Berkeley Energia (BKY) at a 20p offer - the shares are now 39p-41p after the publication of a Definitive Feasibility Study (DFS) confirming that its Salamanca project in Spain will be one of the world’s lowest cost producers capable of generating strong after tax cash flow, even during the current low point in the uranium price cycle.
Post the Dragon's Den sessions we found ourselves owning shares in Berkeley Energia (BKY). Steve and I reckon these shares are worth at least 45p, watch the video to see why we are so excited. Incidentally when we first tipped them at 20p, Brokerman Dan Levi said this was a rotten tip and stuck the knife in. Time for an apology Mr ex bank robber?
In that rarest of moves for an AIM-listed company, Berkeley Energia (BKY) has announced new financing from a major shareholder which includes new equity at a premium to the currently prevailing share price. Following several months of due diligence, mining-focused private equity firm Resource Capital Funds is to provide $5 million through a 0.375% net smelter royalty and a further $5 million for new shares at 32p each. The latter compares to a closing high share price since 2013 of 31.75p earlier this month and a pre placing close of 30.25p – these up from 26p at the start of the year and more than 50% on our share tip.
Berkeley Energia* (BKY) has updated that a definitive feasibility study on its Salamanca uranium project “is well advanced and is due to be published in June”, with the company’s confidence emphasised by the commencement already of initial infrastructure work at the project.
Berkeley Energia (BKY) has announced half year results, that contractors have been selected for power line and road works and that “with all major approvals in place and with the strong support and backing of the authorities, activities on the ground will commence shortly”.
Berkeley Energia* (BKY) has announced the commencement of a major exploration programme at its Salamanca project following an extensive geological review. The shares are a buy.
Berkeley Energia* (BKY) has announced a new company presentation and a quarterly report for the period to the end of 2015. All is on track.
Berkeley Energia* (BKY) has announced results from a three hole drilling programme at its Zona 7 deposit – which have highlighted “a possible extension to the mineralisation at depth”
John Meyer of SP Angel this morning comments on Berkeley Energia (BKY), Blenheim Natural Resources (BNR), European Metals (EMH), Goldplat (GDP), Stratex (STI), Wolfe Minerals (WLFE) and Vedanta (VED) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Uranium play Berkeley Energia (BKY) is trumpeting encouraging initial exploration results from the high-grade Zona 7 deposit within its wholly-owned Salamanca project, hosting an estimated resource of 90.5million lbs. of uranium U308 in central-western Spain. Entrepreneurial managing director Paul Atherley describes the Zona 7 results, which include 14 metres with 4,481 parts of uranium U308 per million of material and six metres with 3,274 parts per million, as 'transformational', while declaring another Salamanca prospect, Retortillo, is likely to face potential operating costs of some $15.60c (£10.90p) a lb., which is less than half the present 'market' price of uranium, at $34.75 a lb.
Next up is my old friend Paul Atherley of Berkeley Energia (BKY) presenting at Gold & Bears. For what it is worth these shares are cheap and a buy. Enjoy
The now-named Berkeley Energia (BKY) has updated that “optimisation studies have commenced on the Salamanca project which are expected to reduce the operating costs making it amongst the world's lowest cost uranium producers once developed”
Featuring shares in Armstrong Ventures (AVP), Berkeley Energy (BKY), China New Energy (CNEL), Kefi Minerals (KEFI), Teathers Financial (TEA), together with some share price targets.
I know that the news from Salamanca last week was big but this big? Big enough for Numis to up its target price for shares in Berkeley Energy (BKY) from 40p to 100p? The shares are now 26.5p? Really?
Entrepreneurial Spain-focused uranium play Berkeley Energy (BKY) says an updated pre-feasibility study has transformed the economics of its flagship Salamanca project by including the project’s shallow high-grade Zona 7 deposit. Steered by managing director Paul Atherley, former boss of Leyshon Resources (which left AIM in June), AIM-quoted Berkeley, whose shares have more than doubled since early spring to 26.5p, says the study was ‘managed internally, utilising inputs from a number of independent contractors’ and argues it significantly enhances the commercial attractions of Salamanca, which is currently estimated to hold a potential 88.2 million lbs of U308 triuranium octoxide.
In an announcement entitled “Zona 7 transforms Salamanca project economics”, Berkeley Energy (BKY) has announced the results of a pre-feasibility study which shows “the project now has a Net Present Value of $871.3 million (£580.9 million) with an internal rate of return of 93% based on a discount rate of 8% and a long term uranium price of $65 per pound”
Spain-focused uranium play Berkeley Energy (BKY) says it expects to start site work in mid-2016 at its key Salamanca project in west-central Spain following official approvals from the country’s Ministry of Industry, Energy and Tourism, the European Union and various, national, regional and provincial authorities. Listed on AIM and Down Under, the company’s shares have nearly doubled since midsummer to 20.75p, as investigation of the project continues to show encouraging volumes and grades, at a time when new nuclear power projects, which need uranium, are under active discussion in the United Kingdom and around the world.
Berkeley Energy (BKY) has announced an updated JORC compliant mineral resource and reiterated that “the inclusion of the important Zona 7 deposit is expected to fundamentally improve the economics of the Salamanca project, even at current uranium prices, by significantly increasing the mine life, the production rates and by reducing the operating costs”
Investment Case: Sector: “Mining”. Therefore, it is not a surprise that, having been above 100p just over 4½ years ago and 30p 2½ years ago, shares in what was Berkeley Resources, now Berkeley Energy (BKY), traded down towards 11p earlier this year. However, the last few months have seen a recovery to a current 21p offer price
John Meyer of SP Angel this morning comments on Berkeley Energy (BKY), Glencore (GLEN), Hochschild (HOC), Lucara Diamonds (LUC) and Rambler Metals (RMM) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Aureus Mining (AUE), Berkeley Resources (BKY), Polyus Gold (PGIL), Rambler Metals (RMM) and Tri-Star Resources (TSTR) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
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