Member Info for Broxburn68

Can you share your evidence that the rumours are false please?

Fair comments, forsterite, though it may be worth pointing out that BKY is now listed on the main LSE rather than AIM. High risk shares like BKY with no or little revenue are always going to be subject to wild fluctuations. To a large degree, perceptions of future value drive demand for shares. Rumours can have a dramatic effect both ways as there is little substantial financial information to base judgements upon. It's nice to see a rumour in our favour at last! Another example in a different sector is OPTI, which I have in and out of in the past year. There is little revenue, but varying sentiment for the future results in SP oscillations which can be played quite successfully. SP on ASX 40c (22p) anf held steady throughout the day. We'll see what happens here I suppose...

It's interesting that the volumes traded have been so high in Spain too; far outstripping LSE and ASX. Nearly 30m shares traded today. There seems to be a lot of confidence over there which can only be encouraging.

It certainly has been, NigWit. I can't say that I thought this recovery would happen as quickly, but it's good to see the winds changing in our favour. There are more ups an downs to be sure.

Your decision to sell in the high 40s still looks shrewd, mind you..

I agree that permitting for Zona 7 is a big issue for BKY in future, but things can change over time. Alameda was always a secondary project.

He's certainly not a fan, but it's the Mayor of Retortillo who has to sign the permits. There are strong views on either side .

The permit was denied by a bureaucratic failure, matnotan - they just didn't have anyone qualified to sign the report off. The mayor of Retortillo is a staunch supporter of the project is he not?

There's very strong support from Retortillo and the Castilla Y Leon regional government for the project. The issue may lie with the national government.

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.

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..

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.

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.

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.

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.

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?

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

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.

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.

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.

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.