Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Any thoughts on the RNS guys?
I like the absolute and bullish tone, BKY "has taken the first steps to overturn the previously announced unfavorable decision". Not "to try to overturn" but "to overturn".
It looks like CSN and BKY are going through the unavoidable procedural motions, CSN opening a "hearing" where they won't of course be hearing or listening (!) and BKY responding correctly but knowing this.
I imagine BKY will start lawsuits ASAP now, with CSN continuing to prevaricate and whine about being "bullied", trying to mire the project in uncertainty.
This is now ripe for a court of equity to slam the CSN's cynical disingenuous approach. At the very least the CSN report should be judicially reviewed and struck out. It's so obvious the CSN is abusing process to try to achieve a political ideological result it's not entitled to.
https://urnmetf.com/urnm
Another sale 50% of the previous sale (so a further 144,070 sold with a balance remaining still a hefty 6,454,488) as of yesterday 22nd. July.
Hopefully today's News Release will keep them invested.
URNM have made a recent sale of 288,140 shares in BKY.
They still show faith - current holding (post CSN announcement) at July 20th was 6,598,558 shares.
https://www.berkeleyenergia.com/wp-content/uploads/2016/12/161201-FCW-Berkeley-Now-Courting-Chinese-Investors.pdf
Now we understand why China wasn't interested in any JV deal with BKY.
We can still hope the law, the EU's JRC, UNSCEAR etc etc, science and the urgency to reduce emissions will combine to trump counterproductive anti-nuke politics and ideology, prevailing for now amongst the influencers in those governments.
I thought Merkel's comments about climate change this w/e were interesting after the floods, that Germany needs to do more, and fast basically.
https://www.reuters.com/world/europe/merkel-says-germany-must-do-more-tackle-climate-change-2021-07-18/
A poisoned chalice to pass to her successor for sure. As a pro-nuclear scientist, I'm sure she largely regrets implementing the nuclear moratorium post-Fukushima, done to keep the greens out at the time basically. What will her memoirs show about that? Germany's policy and emissions record is appalling, Spain's too. U-turn on nuclear needed.
This might explain a few things with refusal of the licence
https://www.neimagazine.com/news/newseu-anti-nuclear-states-urge-excluding-nuclear-from-green-taxonomy-8869307
https://www.neimagazine.com/news/newsspains-regulator-rejects-berkeleys-plans-for-uranium-mine-in-salamanca-8898311
N E I Magazine:
"Spain's Nuclear Safety Council (Consejo de Seguridad Nuclear -CSN) on 12 July blocked Berkeley Energia's planned uranium mine in Salamanca citing safety concerns. The CSN Plenary reported unfavourably on the request presented by Berkeley Minera Spain (BME) on the authorisation of construction of a uranium concentrates manufacturing plant in the municipality of Retortillo (Salamanca).
Berkeley's plans to mine uranium at its Retortillo project in the western region of Salamanca received preliminary approval in early 2013 but has since faced growing local opposition. Berkeley earlier said the mine would run for 14 years, generating investment of over €250 million ($297m) and more than 2,500 jobs in the region.
The Retortillo mine ceased uranium extraction in 2000, when state-owned Enusa stopped exploiting the deposits due to their low profitability.
CSN said it took the decision because of uncertainty over how radioactive waste would be stored at the facility. UK-based Berkeley, whose Madrid-listed shares fell more than 12% to €0.34 after the decision, said in a statement it refuted the CSN's assessment and was disappointed with the decision. "The company will strongly defend its position and will immediately consider the range of legal options available," it said. Berkeley said all the documentation submitted had been prepared following the advice of independent bodies, noting that it had already obtained more than 120 prior permits and favourable reports from authorities at local, regional and EU level. However, The Stop Uranio environmental protection group, which has been campaigning against the mine's development, welcomed the decision.
The Plenary voted four to one in favour of a Proposal for a Technical Opinion prepared by the Technical Directorate for Radiological Protection. The technical opinion will be sent to the Ministry for the Ecological Transition and the Demographic Challenge and the reason for the decision was the low "reliability" and the "high uncertainties" of the safety analysis of the installation based on geotechnical and hydrogeological factors. The "technical deficiencies" identified in the assessment relate mainly to the disposal of very low level radioactive waste."
Tragic events in Germany being linked to climate change from emissions. Meanwhile the Germans are phasing out their safe clean green nuclear power stations, have nearly completed Nordstream 2 to bring in more Russian gas, and are bulldozing villages to expand their coal mines, coal still being where 25%+ of their energy comes from. In reality, they need to do the opposite, ie phase out gas and coal, and have more nuclear power stations and uranium, together with renewables. Like Spain and elsewhere needs to do, starting with permitting Retortillo. BKY should take the gloves off now, and get stuck into some serious legal battles with the CSN and the coalition, after this week's stitch up.
Also, there's no chance of getting anywhere near these new EU targets without more nuclear.
Next week is looking good for 20p plus. A Friday afternoon intra day RNS would put the cat among the pigeons. Sense there is something good in the wind coming very soon
Nice blue day today, think it will settle low 20p until next update , not a bad rise from 12p entry
GLA LTH have a great weekend everyone
Hopefully!
If it carries on the way the trades are taking this then it could be a righ touch if played right now!
Lots of Spaniards tweeting about BKY too!
Upto 1 now. big buying continues. Some taking profit from rise in last few days. You get the sense big news coming next week
Number of big buys now showing. Couple showing as sells. But I'm sure are buys. Price monitoring RNS already
The market are littered with cases like CNE, time will tell whether BKY is another one of them.
Like you, i play safe, will reenter when permit granted and knowing more about how fund be raised to bring the mine to production.
Huge compensation.....just a word of caution on that. I am still invested in CNE which is still owed $1.7bn by the Indian Government . The legal case including appeals took years and we have still not seen the money! Personally I will re enter with BKY when the permits are granted and not on the basis of threats of legal redress and compensation. The latest uptick in sp could just be speculative play from Madrid.
A great buy for a punt when at 12p ( I didn't) ...Someone knows something here it would seem - good luck, especially to long term holders
And
If they don’t get permits. Then. Huge compensation. One or the other.
If berkely get approval this will swing up fast.
I'm sure they have plenty of people working on this.
Maybe spain can't afford it. Time will tell.
Closing day high. I’m hoping
Today , where’s that fool who advised me not to buy????
Good job I never listened £3k in profit not to be sniffed at
Looks like the 10-20% who got in the lows of the day taking profits BUT still undervalued
Nice movement,well done all by holding it and not listening to the deramping gang yesterday!
18p has arrived,next consolidation at 22-24p,good luck all and hold tight.
No resistance up to 30
Yep big order it looks like...it’s constant buys