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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake Watch Now

TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential


Member Info for Broxburn68


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Member Since: Wed, 7th Sep 2016

Number of Share Chat Posts (all time): 251
Number of Share Chat Posts (last 30 days): 16

Last Posted: Sat 15:26


Post Distribution over the last 30 days




10 Jan '19

The company will make an announcement once the report is published as below. There are still some hurdles to be overcome.

MADRID, Jan 10 (Reuters) - Spain’s nuclear watchdog has endorsed two studies by Australian company Berkeley for a project to build Europe’s only open-cast uranium mine near Salamanca, a source with knowledge of the matter said, a preliminary step in the approval process.

Following the endorsement of the nuclear safety studies, Berkeley still needs a broader go-ahead from the watchdog, CSN, as well as further approvals by the local, regional and national governments before it can begin work.

“The CSN has approved the two studies,” the source said, adding that a formal announcement was expected next week.

The CSN and Berkeley declined to comment.

“We do not comment on anonymous rumours or comments,” a spokesman for the company said, adding that Berkeley would make an announcement once the CSN report was published.

The studies looked at the prevention of radiation effects on water and the general environment, among other safety concerns.
7 Jan '19

I'm not sure that you can put a 50% rise in a week entirely down to RCF, NigWit, though it's certainly been a factor. The share fell on rumours and probably to some extent has risen on rumours. None have been substantiated at all as yet.

Nearly 13m shares traded on the Bolsa alone today. I don't know what's happening behind the scenes, as few of us do, but the next month will be interesting..
7 Jan '19

RCF have now finished disposing of their holding. This notably eases supply of shares. BKY not aware of any reason for the recent rise in SP.

https://www.asx.com.au/asx/share-price-research/company/BKY

21c (12p) on ASX.
5 Jan '19

Without doubt this is a high risk play as you say. The points you make are correct. I had no intention of averaging down here at the risk of throwing good money after bad - I was 83% behind at Xmas. 8p was just too low. Break even for me is now 24p. I think quite a few LTHs may have averaged down as well.

I still think that if you are not risk averse there's a potential good reward in a bet here, but not one to be shouting too loudly about to friends/ family/ colleagues. It can still go wrong.
4 Jan '19

Is this rise not just an inverse reaction to the factors that caused the share price to drop so dramatically in the first place? Rumours of government blocking the permits, local license denied through bureaucratic failures?

There has been no definitive change in these matters since the SP was in the 40s, 50s, 60s. Now 14p.

We'll see in due course what transpires with the permitting.
4 Jan '19

Thanks for your reply; I suppose it's an interesting time coming up even for those with opposing views on the project. All the best for 2019 on a personal level.
4 Jan '19

That seems very plausible, matnotan. Do you see the final granting of the permit passing through government or do you think they may try to block it?
3 Jan '19

The bill's in the post ;) Good luck with the ISAs.
3 Jan '19

Your ISA will automatically transfer tax free to the surviving spouse. If your estate is less than £650,000, there will be no IHT due as you can combine your allowances.
3 Jan '19

Unfortunately ISAs are counted as part of your estate with regard to IHT, cobblers. This means that you have to live for 7 years after the gift to ensure no liability for your grandchildren.
The good news is that you'll have no Capital Gains Tax to pay on the transfer as you've had the good sense to hold your shares in an ISA.
Hope this helps.
1 Jan '19

Totally agree with the fact that there are much, much safer uranium plays than BKY, easyp.

On the other side of the coin, there is more SP growth potential here from this level, especially in the short-ish term. This is of course reliant on no further bad news, rather than expectation of permits being granted in the near future. More of a bet than a bona-fide investment perhaps. The unpopularity of PSOE in Spain should ease the political risk somewhat, but this risk is still extremely high.

U shares have fallen back a bit from their November highs, but the general trend is upwards, so here's hoping for a prosperous 2019 for all.
1 Jan '19

A very happy new year to all!

A good rise of 39.78% to 11c on the Bolsa yesterday on reasonable volume - perhaps we have seen the bottom of the SP for now.

I can't see BKY mothballing Retortillo in the near future given a worst case scenario with regard to permitting, Dimi123. If the Omanis wanted to grow their Uranium portfolio, it would make much more sense for them to invest directly into another project.

There's talk of a Spanish general election being brought forward to 2019, so hopefully this may help the cause here.
31 Dec '18

BKY up 13.3% on ASX to 17c (9.4p). We'll see if it follows suit here. GLA.
30 Dec '18

It may be worth noting that at the present rate, RCF may have finished disposing of their holding here roughly about the time that the next quarterly report is due (late Jan). They have 7m shares left to sell as at 24th Dec.

I'm miles behind here, being a LTH but at this level of SP I am considering a small bet to average down, or even look for some short term gains. Note the word bet though.

It will almost certainly be quite some time before permits are granted, if at all, but a favourable report from the CSN (hopefully Q1) could see a decent rise, even given a continued impasse with regard to permitting.
23 Dec '18

The worst case scenario is that shareholders end up with nothing . We come last in line with regard to distributions. There are no secured creditors as such as there is no "debt", but I feel that the continued support of the Omanis is absolutely crucial.
23 Dec '18

...OK, signing off for Xmas now. Here's an article from Germany that I think sums up where we are quite well with BKY. I would like to wish all posters and their families the very best for Christmas and the New Year.

https://www.rohstoff-welt.de/news/artikel.php?sid=68539#Berkeley-Energia-Ltd.-Besteht-eine-Chance

At Berkeley, there is still no tangible news. The rumour that Berkeley will not receive the last two permits for the uranium project in Spain has massively impacted the stock, though there was not officially any official government opinion in that direction.

Berkeley Energia has one of the world's best uranium projects under its wing and 100 million AUD capital in the bank at zero debt. I still think these two scenarios are possible:

Scenario I: Berkeley gets the approval, the market is totally wrong and the stock then explodes.

Scenario II .: Berkeley does not get approval or the government hesitates to extend it. Although the topic of production would be HALT for the time being, the project would continue to belong to Berkeley. You could just wait until the government changes again in Spain.

The company is currently traded under the cash stock and of course, the stock looks modest. But I will certainly not sell the stock under cash, especially since there is still the chance that Berkeley gets the permits.

The company is working hard on these last two issues, having previously received over 100 (!) Government approvals. The Resource Capital Fund (RCF) has recently been wrong in various companies and has to contend with returns. Recently, RCF has been selling more stocks and I'm just waiting to see that RCF is done with the sales.
23 Dec '18

I respect your point of view.

I wouldn't be particularly happy if a uranium mine, or any opencast operation, was planned to be opened next to where I live, and I stay in a former shale mining area. It may happen in my lifetime however.

There will inevitably be a conflict of interest between the people that want work and security for their families and the disruption and reduction of quality of life caused to local residents who are not involved in the mine.
23 Dec '18

Hello matnotan, could you please reference your comments otherwise it would seem that they may be without foundation. Do you disagree with my analysis regarding the Urbanisation permit? Do you deny that many locals want the mine?

I note that several applications for the granting of mining investigation permits have been admitted definitively recently by the local authority to BKY. This doesn't suggest wholesale rejection of the project. (I've even referenced Jesus Cruz here!!)

https://jesusenlared.blogspot.com/2018/12/berkeley-minera-espana-sl-investigara.html
23 Dec '18

There is a lot of support for the mine locally, PAU1DEANO. A lot of the voices against are very vocal on social media and have no connection with the area. As always it's the protestors who make most noise.

BKY put out this release on 5 September stating:

"The entirety of the population of Retortillo, half the population of Villavieja de Yeltes and many more residents from other towns surrounding the project have signed a petition to show their support for Berkeley‘s Salamanca mine."

https://www.berkeleyenergia.com/more-than-a-thousand-from-local-community-sign-petition-in-support-of-the-salamanca-project/

BKY have to be held accountable for press releases. Protestors can say what they like with impunity.

I don't think that the "African" scenario you mention will happen; the Spanish government is under great pressure and is seriously short of funds. The reason the Urbanisation Permit has been denied by the local authority is purely down to austerity in Spain. They simply couldn't find someone suitably qualified to deal with the application.
21 Dec '18

Hi matnotan, there are some literate responses to the criticism levelled at PA in the article don't you think? Don't you agree that there are very different levels of accountability applying to each opposing side?

"I've seen it elsewhere as well (being involved with a uranium project myself). The activists have a way of making it seem like the entire world is against a project, but in reality it is a small number of agitators (often people from far away via social media) who actually oppose these developments. Not to mention that traditional media always sides with the opposition and it's pointless trying to convince them to "play fair".
If one had to do an actual survey on the ground of who is for and who is against, I'm sure the impression would be far different from that portrayed in the media.

And from personal experience I can tell you that activists are far more likely to manipulate information than companies, because they have nothing to lose (no accountability) whereas companies have everything to lose (always accountable)."


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