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Stupid decisions can only last so long.
Has this Castiljon chap come up with any other viable solutions for base load energy since he joined CSN and became a pain in the neck.
UUUU and CCJ had a strong rise yesterday. Now someone in the EU needs to tell the eco idiots in Madrid to grant the permits!
The Spanish Government, if I can present an analogy, are like someone holding the football before the FA Cup final or the Copa Del Rey and refusing to hand it over so the game can kick off.
Firstly the 22 players will get annoyed, then the bench and management, then the officials, then the supporters and finally those watching on TV.
If the Spanish Government keeping holding the ball (not giving the last permit) the more people are going to get annoyed.
Has Russian finance to oppose the mine dried up I wonder?
Enjoy the ride, you deserve some good news!
Buy at these junk levels imo. Particularly with the increased interest in nuclear generally that we're seeing.
Nice SP rise again today.
1. The Company is not aware of any information that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company.
If the last couple of days trading has got you back in the blue then great but imo it looks like a bubble based on rumour. I hold AURA and while they are trying to lobby Sweden to approve Uranium Mining no news as yet. If the EU or Sweden change their policies then BKY turns a corner but nothing to confirm it so far. Good luck with the momentum trading it is going up bigly at the moment and there is money to be made from that.
Id be interested to know the money flows for investment from the Middle East since this 5h1t show!
gawd knows which court you'd go to if appeal was allowed from the spanish administrative appeal court. I'd have long since lost the will to live if it came to that.
This the opinion of BKY so which court do they take this to?
A Spanish court which will decide? and if it decides .....? Does it then go to a European Court?
These donkeys in govt will fail when the people have had enough and want rid go them!
EU energy policy change in favour of nuclear may help. But (rhetorical Q) could it unlock BKY's current issue, which is a specific legal one, namely the unlawful CSN2 report relied on by government to refuse permitting?
flundra, yes they might but the moves need to start in Brussels and get directed at Madrid.
A sig change in EU Energy Policy might swing it and perhaps rumours of that are driving the sp today?
Good luck if you were holding, well in the red and hoping, my tactic remains wait until a permit is in sight before committing money to BKY.
Another positive of improving sentiment is that it becomes more likely and easier for another funder to step into Oman's shoes or to refinance.
'Questions like how long should Oman have to wait and what progress does there have to be before the contract can be annulled by them. '
If that clause was not written into the contract prior then it could be argued to do it now is interfering with the free market. It has neither failed or succeeded at this point. I welcome the Oman fund to the world of investing on the stock market where the unknowns are plentiful and the risks great!
up 32%!
Quite. And that's one of Oman's arguments. That the contract is eg frustrated because CSN2 and permitting aren't happening and the contract can't be fulfilled and should therefore be set aside. That will turn on the wording/intention of BKY and Oman in the contract, and also the law of frustration. Questions like how long should Oman have to wait and what progress does there have to be before the contract can be annulled by them. Ultimately for the Aussie court to decide.
What the CSN and Spanish government do is a completely different legal question, and for the courts in the Spanish jurisdiction to decide.
but the illegal activity of the Spanish government has an adverse effect on that contract,
how can they fulfil that contract under those circumstances?
The Aussie court is dealing with the contractual position between BKY and Oman. That court wouldn't be able to make legally binding judgements on the CSN re CSN2 or the Spanish government re its permitting decisions. The administrative appeal in Spain deals with that.
I guess if Oman wins, the funding gets repaid to them and we're back to square one on funding ie we wouldn't have any. Unlikely though. The administrative appeal against the spanish authorities re CSN2 and permitting would presumably continue whilst we seek a new funder. Funding the legal process itself might be an issue.
Would it not set of a chain of events if the Oman fund won their case which would mean BKY would have to chase the Spanish Govt for their illegal actions?
Might Oman withdraw its own lawsuit now that the nuclear space is looking so much rosier? It's always looked tactical or speculative at best with little chance of success.
Can you imagine the illegality of the Spanish governments actions being raised in an Australian court of law?
I bet the Australian Government diplomatically do not wish to hear of it and kick the can down the road!
Well said, Paul. Spain currently is not investible. Omanian stands no chance to win the case. All security conversion are stipulated in the agreement, black and white.
Now it's a waiting game. See if the BKY investors can survive the Spain leftists.