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This may take out some of the uncertainty caused by the recent change of government: P54 of prospectus: "The radioactivity and water permits which are granted by the national authorities are �ruled permits� (permisos reglados), meaning that they must be granted if the legal requirements are met and, as a result, they cannot be denied just on the basis of political considerations."
Page 40 of prospectus: "It is expected that the Salamanca Project will not reach steady state production prior to 2020"
From Prospectus: The Retortillo deposit will include a uranium treatment plant and a final storage of the radioactive mining waste backfilled to the exploited pit. Due to the radioactivity linked with these facilities, the obtaining of three permits from the Ministry of Energy, Tourism and Digital Agenda is required, namely: the prior authorisation (autorizaci�n previa o de emplazamiento) (�NSC I�), the construction works authorisation (autorizaci�n de construcci�n) (�NSC II�) and the final operating authorisation (autorizaci�n de explotaci�n) (�NSC III�). The first two permits allow for the construction of the radioactive facilities namely the treatment plant and the definitive storage as a pit backfill, while NSC III approval allows for the commencement of radioactive activities once the NSC has conducted a review that the facilities comply with the conditions set out in NSC I and NSC II. For instance, before granting NSC III approval, the NSC must confirm that the facilities are located exactly where authorised, so that the constructions strictly correspond with the approved project or so that it is safe to start operating. NSC I for the Retortillo deposit was obtained on 15 September 2015. The authorisation was challenged before the contentious-administrative Courts and proceedings are ongoing however, NSC I remains valid 47 and fully enforceable and has not been suspended. The application for NSC II was filed on 7 September 2016 and is currently pending. The term of the proceedings were suspended by Resolution of 18 January 2017 until the NSC issues its mandatory report on the NSC II application.
Here's a link to today's SOH interview if it's not been posted already by the way: https://www.youtube.com/watch?v=yPon0HDj_K0
This comes as no surprise to me after last year's results, but I agree that this is actually very good news despite previous assurances that no placing was required. If this increases the pace of progress of the projects, it's going to add value here in a shorter timescale and most importantly bring forward revenue. Good to see strong II interest as you say. My guess is that we could see a sustained rise in the SP in the following months if the good news flow regarding new deals is maintained.
Valid comments NigWit and Baht. If secure supply is paramount, this is bound to lessen the chance of them agreeing to a takeover. The reasons I think takeover talk will resurface is the sheer level of interest we are bound to attract once the price of Uranium rises. Referring to 2010, I believe that this deal was very close to being agreed with Severstal but was ultimately taken off the table by BKY mainly due to a spike in U3O8 prices around that time (c.$60). The offer was AUS$2 (�1.23) per share, valuing us at around �200m even then. There was strong interest from KEPCO as well. The BKY project has advanced dramatically since of course. http://www.iii.co.uk/articles/13735/berkeley-fails-agree-terms-severstal https://www.thetimes.co.uk/article/berkeley-resources-russian-deal-in-doubt-t72sk5g357g
Fair comment, but if any contracts have been signed with regard to supply over a period of time, any party taking over would be obliged to honour these agreements. Their aim is to achieve above average returns on investment as any other similar fund. The Omanis are an investment fund with a diverse portfolio; some of OIF's largest investments include Ireland's Jurys Inns Hotels, the United Arab Emirates' Dubai Mercantile Exchange, and India's Quippo Infrastructure Equipment, Nimbus Communications and Housing Development Finance Corporation. Pretty diverse.
Really good news for us! Not unexpected. https://sightlineu3o8.com/2018/05/paladin-to-halt-langer-heinrich-expects-uranium-rebound-in-coming-years-australian-mining/ "Supply curtailments such as the one represented with this announcement, together with actions of global peers such as Cameco, Orano and KazAtomprom, could serve to accelerate the anticipated market normalisation" Agree with your takeover theory Stroan....hope we're right!
Hmm..lacks much in the way of detail about potential revenues in the short/ medium term. We need to see this or the possibility of a cash raise within the next year may arise. Could see a slip back in SP today, though I hope I'm wrong. Great outlook looking forward though with multiple new deals signed and in the pipeline.
I don't expect revenues to be great either, boyzee, maybe �500-600k? We'll find out tomorrow! SP dipped a bit last year (about 10% within a fortnight) on the announcement of the results but was trading higher the following week. The good news flow continues strong and fast; the revenues will begin to be booked soon enough. I'm sure we'll be looking at massively different figures in a year or two!
We might also receive an update on the drilling/ exploration programme before the new listings. Good news here or even a resource upgrade would give the launch a welcome boost.
More on IPO from WSJ... https://www.wsj.com/articles/kazakhstan-plans-ipo-of-worlds-largest-uranium-miner-1526567873
Some good news to cheer us all up a bit. Japanese media are reporting that the British government are offering �13.3bn in financial support to Hitachi to build nuclear reactors in Wales. http://www.powerengineeringint.com/articles/2018/05/double-investment-boost-for-uk-nuclear-power.html
Yes indeed, it's a massive market. I'm enjoying this steady stream of good news each month from OPTI; the building blocks are certainly being laid for an exciting future.
I've been looking at the progress of the proposed Kazatomprom IPO (ie. their Swiss marketing subsidiary as I understand it) as a bit of a bellwether for the prospects of a recovery in the uranium price in the next few months and find a lot of encouragement from the indication that the IPO still seems to be on track for Q4 this year. I wonder if there may be any political machinations involved in the Kazakh sell-offs as hinted at in this article, though surely an IPO would not be affected by its very nature. Interesting if it's offered on the Moscow Exchange, though maybe unlikely. Any thoughts? "Rakhmetov [MD of Kazakh Sovereign Wealth Fund] said that his fund does not focus on investors from specific states or regions, the maximum price and the buyer�s reliability being the priority. The U.S. sanctions are an issue of close consideration while choosing an investor, an individual approach is necessary in each case" http://www.1prime.biz/news/_INTERVIEW_Kazakhstan_to_offer_firms_for_sale_to_Russia_soon/0/%7B9563218A-D1B6-4682-92D8-5DC55000104D%7D.uif
Cameco Uranium Price Charts to April: https://www.cameco.com/invest/markets/uranium-price Spot down 5c, long term price level at 13+ year lows. Surely we're at the bottom of this cycle now!
Hi Baht, I'm sure that we're still awaiting final permits for Retortillo.....
According to the latest Quarterly Report, permitting for Retortillo (the first phase of the project) is expected to be completed some time in 2019.
Fair comment. Personally I find this reassuring as well. I must say that I'm impressed by the ambition and forward thinking shown by the company here, especially with regard to the Spanish listing. A higher profile here will certainly improve the news flow due to the local interest aspect.
RNS in Australia last night: https://www.asx.com.au/asxpdf/20180502/pdf/43tqf3nd5p9r39.pdf Looks good news to me if they can increase liquidity of the shares and gain a higher profile for BKY. The Spanish angle looks good thinking; it does look as if there is a decent rapport building between the Spanish authorities and BKY. Good news for our permitting going forward I would hope. An important point to note here is that BKY is NOT planning a public offering in connection with these admissions, so no placings coming. All stays the same with our current hodings.