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Resolutions passed etc. Cannot see much of a future for BKY unless legal and political pressure applied to Spanish Gov to grant permits for the mine and the chances of that seem very very remote.
Will Spain become like Cuba or Bolivia?
Sorry paul1deano !
"we British will never understand the current national Spanish govt. "
Oh I do, check out my posts over the last 18 mths,
Was it not 3 or 4 years ago that Paul Atherley told a group of shareholders in London that all the permits were in place. This took place in Shepherds' Market in London I recall. !
I am told from a Spanish colleague we British will never understand the current national Spanish govt. they do not care about companies and shareholders, they do not care about nuclears ability to provide safe long term energy.
Nuclear is bad, foreign investment is not to be trusted, even mining is bad or to be frowned upon.
All assets within the ground of Spain belong to the Spanish people and they and only they should benefit from extraction.
Not my opinion, but that is how it was explained to me.
Even if BKY could get the permits there is a risk the government would use the permit agreement as leverage to get more out of BKY be it a tarriff, social programmes, taxes, etc.
Spain is not a good country for entrepreneurs is the consensus of a Spanish colleague working in London for that very reason.
Tharos it's an Australian company, why would they do it in Spain where BKY could tie in the Spanish Govt?
No one seems to have mentioned the N word at cop 26 yet, the actual solution to these emissions.
There's a few days left to do so.
This company could well be doomed (and I write as a holder).
But it was most odd today Friday 5th with some big sales going through the London market around the 13p mark.
The quote did not budge from 13 - 13.50p; so the MMs must be holding a large tranche of stock or someone is picking these shares up behind the scenes.
Also the Bolsa was higher at close by a small margin.
The news as we know it is bleak: CSN have said no to the mine; the Omani NED has gone with immediate effect; the Omani fund's Singapore subsidiary have commenced legal action in the Australian jurisdiction (not Spain, not London).
And the company have said nothing of substance.
What the hell is going on here?
The Note is non-interest bearing and is unsecured and only repayable in an event of breach of the terms of the investment agreement which includes a breach of a representation or warranty, a breach of covenants, insolvency or the Company ceasing to conduct business or ceasing being listed on either AIM, LSE or ASX.
Spain is finished, leave them to their bliss.
Confirmation of legal action from Omanis. Has BKY made any attempt to take the Spanish Gov to Court for this lunacy? Without successfully applying legal and political pressure to Madrid I see BKY going bust in 2022.
About sums it up, you think bliss will answer your energy requirements.
So are you still plane spotting?
China Is Planning at Least 150 New Nuclear Reactors ["https://www.bloomberg.com/news/videos/2021-11-03/china-is-planning-at-least-150-new-nuclear-reactors-video"]
Uranium is going to remain a hot commodity for some time imo. Just a shame the EU and Spain totally deluded about renewable energy.
Exactly P1D. There won’t be anywhere near enough from renewables, so atm it’ll be fossil fuels and imports (and inevitably a low profile extension of their current nuclear power programme). Not even this govt would let the lights go out, or push a policy of degrowth.
Thinking about your nationalisation point, this lot probably are capable of anything, but even so I can’t believe they’re trying to nationalise Retortillo by the back door. It would be gross fraud if CSN2 or permitting is being deliberately withheld/misused with the objective of causing BKY to fail, and the asset to revert to the state in consequence, for potential exploitation later under a future policy change. I think they just want Spanish uranium to stay in the ground forever, and hope domestically (in vain of course) that renewables expand sufficiently in time, so all direct and indirect nuclear activity can cease, with the law and BKY being expendable.
BLISS
Abandon it for what though?
Did you see my derivative post ?
Until I see firm news on the permits BKY is a speculative punt but good luck to all playing the market. I have no idea why the sp up 33% at present time but enjoy the ride.
Who adjudicates? Hopefully the judiciary ultimately if it comes to it. The CSN and coalition are acting above the law (and not for the first time). Let’s hope Spain has some sensible people too, who’ve heard of Locke, Montesquieu and the separation of powers for example. Rational behaviour and common sense tends to leave the room whenever nuclear is mentioned, but the law doesn’t, nor should it.
It’s an interesting thought, but I doubt the current anti-nuclear policy is a conspiracy for nationalisation with a view to using the asset btw. Some of them genuinely seem to believe now’s the time to abandon nuclear forever.
'Atm it’s hard to see how OIA, CSN or the government’s positions are tenable.'
It defies all sense and logic but who adjudicates this, maybe it is just a process of nationalising Spanish assets for future use?
they don't. they pick it up at a much lower price if forced to
Glad I moved out of this one months ago, what a bad ride holders have had. But up as far as it went down yesterday it very strange. I can't believe it's a dead cat bounce even
Time will tell whether my decision yesterday will prove a foolish one ??
Trade from yesterday’s drop worked out
Dead cat bounce?