Member Info for Broxburn68

Indeed. There has been no refusal of any permits whatsoever in this project so far. In my humble opinion there are no signs or reasons to flag up that this may happen in future. As an aside with regard to the Carillion/ Stifel, etc situations I really hope that auditors of these companies are brought to proper account. This has been a massive issue of self-interest in the part of the big four - signing off accounts which do not disclose material information and hide dubious accountancy practices to preserve large fee income is unacceptable. This has been going on for years (remember the RBS rights issue!). Without ranting too much further, it's the "small guys" such as employees and PIs who suffer.

I'm not sure they would be actually bound to say so through an RNS, NigWit, as the timescale for permits being granted is pretty open ended. Having said that, over 100 permits have already been granted, so there is an obvious strong level of compliance being met by BKY and agreed to by the authorities to date.

There have been countless articles in the Spanish press like this over the years; just check out the posts on the ADVFN bulletin board from "langostino". They do tend to come from "environmentalist" sources.The Portuguese concerns have been known for quite some time now, but even in this article there is a strong implication given that the Spanish government is behind the project. As I've mentioned before, I do wonder if these issues have had an impact on the timescale of bringing the mine into full production; it would be good to get an update on this subject from BKY. On balance, there may be further delays at worst, but there is no indication whatsoever that the project is under threat of non-completion. BKY would not have spent the last 10 years here, and I'm doubly sure the Omanis would have not invested if there was a likelihood of the development being blocked.

Thanks belgrano, the fact that there is no massive cash-burn needed to progress the business model was indeed a huge factor in investing here. I suppose we await more detail of the deals done in due course; SOH was understandably unable to provide much detail in his latest interview but exciting times ahead hopefully!

I've had OPTI on my watchlist for a while now and have finally bought in. It was first brought to my attention by TW, MF, et all but some further research persuaded me to take the plunge. SP looks like it's at a low point. Cash control, BOD, huge potential market are big plusses and whilst being a highly specialised business, has more than one source of income stream. I doubt that this is a "get rich quick" share, but within a few years there is undoubted massive potential upside if all goes to plan. Good luck all!

This is the issue that I feel is most important at the moment as well, Tiger. It would be good to get some clarification about this from BKY. I believe we're due an update on drilling results in Q1 2018 so it would be nice to receive a progress update on permitting too. I've read that the final permitting for radioactive use takes about two years (this must have been a year or so ago), but would not be able to provide anything like knowledgeable comment on this. I have also read that stage 1 permitting for radioactive use for Retortillo has been passed, but would not know exactly what this involved either! Even if there are delays/ problems it would be good to know either way.

That's very kind of you to offer us all here a report in March of your visit Strangerstill. I hope I don't come across as presumptuous, but I would be interested to find out whether or not permitting is proving to be somewhat more onerous than hoped. Maybe, alternatively, the delay in entering production may be strategic? Anyway, have a great holiday!

Yep, fully agree with all the above. I remember when I first bought in here about 18 months ago, thinking yes....this is a long term play.....but in 18 months' time it should start to pay off nicely. Eighteen months later however, I'm still thinking in 18 months time......rinse & repeat! There also seemed to be a perceived lack of excitement in the RNS with regard to the forthcoming drill results - I suppose we'll find out in the next few weeks. I must say that I remain impressed by the progress made on the project generally, even if it's all taking a bit longer than hoped. Bring on the takeover in 2020..???

May I second your comments, Everlong50. I've found this board civilised, interesting and thought provoking ever since I first invested here about 18 months ago. Baht, it's great to see you back posting here but please realise that other posters such as NigWit and PopeUrbanII are also invested here and share the same hopes and ambitions for BKY as you do. We all agree on perhaps the most important factor; we believe BKY is potentially a very good investment for the future. Please keep the informative posts coming. Maybe it's been a bit quiet news wise recently, but the SP is holding nice and steady (up 10% or so in the last month, remember), any good news could see a nice uplift!! All the best. B68

A very happy new year to you all !! The BB has been a bit quiet lately (missing your posts Baht & completelynew) so some browsing has brought some links that may be of interest. John Quakes is a Canadian chap who is posting a lot of uranium related news on twitter from an admittedly very bullish perspective: https://twitter.com/quakes99?lang=en It also must be pretty encouraging that BKY is now the fourth largest holding in the Global X ETF; these links give a breakdown of holdings and ycharts also gives movement in the fund make-up: http://portfolios.morningstar.com/fund/holdings?t=ura https://ycharts.com/companies/URA

"The complete construction of the urinal mine of Retortillo is already scheduled for January" http://www.actualidadempleo.es/berkeley-contratara-trabajadores-en-construccion-de-mina/ Dodgy Spanish google translation....I think!!

Latest interview with PA. Important points are that drilling/ exploration results will be announced in Q1 2018; full production to begin in mid-2019. Permitting stated to be on track, though the impression given is that this is taking some time, as expected. Timescales slipping back a bit but no great worries from my personal point of view. https://www.youtube.com/watch?v=YKUXkjcrDI4

In a message to shareholders managing director Paul Atherley touched on the subject of whether the company had got its timing right, given that several commentators have noted that Berkeley will be constructing just as industry giants Cameco and KazAtomProm are cutting production. "But these are no ordinary cuts; these are not high-cost mines being closed in the face of twelve year low uranium prices," Atherley argued. "Next month Cameco will be shutting the jewel in its crown, the McArthur River mine, the world’s biggest and lowest cost uranium mine and the betting is that they will keep it closed until uranium prices are nearly double where they are now. "The word on the street is that JP Morgan, who are bringing KazAtomProm to market next year, have suggested that the IPO will go much better if uranium prices are higher and are behind KazAtomProm’s surprise 20% three-year production cuts. "Whatever the reasons behind these unprecedented cuts, analysts are forecasting them to quickly tip the uranium market into the long-awaited supply deficit," Atherley revealed. "The uranium price has jumped 40% off the twelve-year lows and analysts are upgrading their forecasts for 2018. "Whilst there is nothing certain in the commodity markets and there will be ups and downs, we are quietly confident that by commencing construction now we will be delivering into much higher uranium prices when we start production in 2019," he added. Berkeley believes it will be the only major producer in the world coming into production at the time Salamanca starts producing. http://www.proactiveinvestors.co.uk/companies/news/188645/berkeley-energia-confident-it-has-its-timing-right-at-salamanca-188645.html

There seems to be a remarkably strong trend according to the long term contract chart over the last five years of prices peaking early in the calendar year. If this trend continues we'll see a nice uptick in the share price; let's hope that after Cameco/ Kaza reducing output, this will help sustain the rise for a longer period. If anyone is thinking of topping up or buying in, this may be a good a time as any to do so (all IMHO of course!). I remember last year that the SP ticked up gradually in generally small increments to it's late January peak. There are encouraging signs over the last two or three weeks that this pattern may be establishing itself again.

Thanks NigWit, much appreciated.

On 30 November last year, the share price of BKY was 46p. By 27 January 2017, we had seen a rise to 69p, being a 50% rise within two months. The Uranium spot price was c.$18 on 30 Nov and had risen to c.$25 by the end of January; a fairly similar correlation. NigWit has posted some excellent charts showing a very close correlation between the U3O8 price and BKY SP, please continue to do so if that's OK!! Despite some significant milestones being achieved by BKY since then (especially full financing of the project), the SP has slipped back gradually to it's present level with U3O8 at c.$25.50. The long term uranium price however in the same time period has dropped from $33 to $30 at present (ref: Cameco website). This may have had a significant effect. As mentioned by previous posters, the Jan 2017 bubble so far has really come to very little, maybe leaving some shorter term investors once bitten twice shy. There has however been significant and sustained interest from institutional investors. As of a night, just when you're dozing off, something can happen which shakes you awake all of a sudden!! Have I foreseen any of this SP movement (or lack of it if you like) in the past year - definitely not!! What it does suggest to me, is that far from being a yawn, the unexpected could happen very quickly as soon as there is any significant move in the long term contract price for uranium especially.

SP is now 54p (95c) on ASX - shall we see a nice lift today perhaps..??

Thanks Baht - an interesting read. I note that on the last page that the recent price per share for BKY is given as $42.000 - I thought it was just a nice dream I had the other night.....

Hi SGD27 - yes,I agree that the "not fair but reasonable" is probably just a technicality that would apply to dilution suffered by existing shareholders of any listed company. IMHO I am delighted by the financing deal secured by the directors; it far outweighs any realistic expectations I had beforehand. This strikes me as a very professionally run company so far. Here's to a bright future for BKY and all on the BB here!!

PS: Sorry about the copy and pasting making these posts so bloody awkward to read!!