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sorry 520 barrels!!

Sunday Times Biz section p1 yesterday says: "It is also believed that chief exec Tony Durrant is looking to sell a large minority stake or all of its Latin American business to help pay for the deal and has contacted potential buyers."
Then "Its Latin American arm has stakes in exploration licences in Brazil...Zama….and a share of the Sea Lion project in the FI, which is thought to contain 250m barrels"

Perhaps the original anonymous source was someone like a junior minister or civil servant, holding anti-nuclear views (nothing wrong with that), but otherwise unethical and disingenuous or worse. Unfit for public service anyway, even if they got Reuters interested. I don't think there's been any corroborative follow up to the story.

That would make sense, although I also wonder what RCF are thinking now, if it was a commercial decision.

I hope BKY, the government and the 3 exchanges investigate the events of the last few months thoroughly, involving the police as necessary. It's a crazy situation for the SP to be largely driven by these minimal random news reports quoting anonymous sources. Fraud possible here. And whilst Reuters reporting standards may generally be "high", the standards of sources breaching confidence and in some cases presumably the Spanish equivalent of the Official Secrets Act, are by definition "low". The standards of anyone reporting material from such breaches may not actually be so high either. So scepticism required.

Clench, hold and wait for official news imo.

...and from Sept '18 announcement:

Discussions with respect to an additional “Structured Finance” facility are underway.

T101 to the benefit of HALO only since Nov 2017 in my understanding

There's nothing abnormal about anti-nuclear groups, groups generally or the hard left viewpoint, or indeed any viewpoint, until there's lawbreaking or dishonesty. And protesting anti-nuclear groups are present and involved with this project, as are the locals. Quite right too.

On the environmental issue, I just hope the govt decision-makers and the anti-nuclear groups are aware CO2 from burning hydrocarbons is the real environmental problem, and they won’t, and shouldn’t expect people to, stop that without first providing reliable baseload energy alternatives (nuclear does that), which other renewables can’t provide yet. Not sensible to stymie this project and thereby promote further hydrocarbon use which is destroying the earth and causing the continued needless deaths of many thousands of people every year from poor air quality, over the limited well-managed risks from modern nuclear. Hope we humans get this one right.

Anti-nuclear groups seem to be at the core of the protests. Their viewpoint is genuine albeit misguided imo, but some of their tactics to push their agenda are disingenuous to say the least. To a degree the current government has been misled by their rhetoric imo, but I do hope they see the light soon.
They may have involved the hard left, but I don't think the protestors' agenda is to seek nationalisation of BKY (then permit) is it?

Hopefully this will get permitted very soon.

There’s been enough environmental material just since the date of the Reuters article to be persuasive on its own. WMO/IPCC/Antarctic survey reports, Katowice, even Attenborough telling us civilisation will collapse. There’s no time, too much CO2, and not enough E=mc2. No U-turns on this valuable well-advanced project please. Also damaging to FDI in Spain.

Happy Xmas all

I agree an announcement would be v welcome.

Status of the 3rd Energy deal - still in negotiation, completed, gone abortive?

Operational and finance update too perhaps?

Glad I'm not the person responsible for the re-listing, given all this volatility. Might they even delay till after March? They wouldn't want the re-listing to bomb. But then again why not just get on with it - 2018 must have been an excellent year financially. And there'll always be some reason to delay. A protracted Brexit, weakening demand/recession fears, sentiment against fossil fuels etc. Maybe the BoD are enjoying life out of the spotlight and scrutiny listing brings! As long as they're getting on with things...

Happy Xmas all.

Lol ghostwriter - I had to look that one up, but it's a jolly good idea, particularly if we loyal shareholders get invited out to the Seychelles for the re-listing knees up!!

This adds that "Industry sources have suggested at least two other parties are keen on restarting mining at Hemerdon".

https://russiabusinesstoday.com/energy/russia-oligarch-wants-to-reopen-british-tungsten-mine/

I hope everyone's at least prepared to abide by the law and democratic process. I am, although I'm not sure the govt or a certain individual posting on here are!!

Whatever result the properly followed process delivers should be accepted by all. The debate on the pros and cons, the local and global perspectives etc, will and should go on, whether or not this gets permitted.

There's been no official declaration and it's not due yet till after the CSN report, but thanks for example to the Reuters article, they'll be under close scrutiny in the process now. Good for all, as they won't now be able simply to pay lip service to process, and produce a foregone conclusion against. That's what the Reuters article said. Shocking really. Dishonest and a breach of duty and obligation, basically a fraud on the people of Spain.

Have you actually read the Reuters report?!

You're right that many are passionately in favour.

The extremism, though, is the criminal activity (eg trespass and threatening behaviour), and subversion of democracy (eg failing to follow due process when lawfully obliged to do so). Those actions insult us all.

A recent extremist stunt at Retortillo was sending a noose to one of the councillors, presumably to help "persuade" him to vote no … creepy. And the poor chap wasn't even a de facto decision-maker.

The pros and cons of uranium mining and nuclear power are well known, and I think the problem with the harder anti-nuclear viewpoint is that it is truculent, outmoded, dogmatic, misconceived and worst of all utterly counter-productive. The planet needs immediate zero- or low-carbon reliable base-load power at acceptable levels of risk. Too much CO2 arising from human activity is the planet's problem, and is too risky now. Many who are instinctively anti-nuclear believe nuclear has an immediate important role to play in powering us safely, as other sustainable sources can't reliably provide the baseload yet. I think it was one of the CSN board politicians who said they thought the mine was "morally repugnant". Hopefully they'll start listening to the IPCC, WMO etc now, realise the earth's roasting and why that is. Open their eyes, take their fingers out their ears and stop going la-la-la, and do something about it. Start by doing what they can to help permit this mine, and stop throwing spanners in the works. Maybe what's actually morally repugnant is their preventing others tackling the CO2 problem effectively, and trying to improve people's lives globally and locally. Retortillo's going to look like a ghost town in the sahara pretty soon. Let's go with what the people of Retortillo want, and choose thriving community with safe well-managed restore-as-you-go mine, and help rescue the earth, or at least limit the damage, at the same time.

Divi maintained and revenue just about on course. Good value now at these SP levels imo.

Hold imo. And there's still the dividend, nice yield at these prices.

Nice bit of volume today.

But I guess we presume still no further response from the government to BKY about the Reuters report content? It's been over a month now.

And presumably CSN are still renewing their board and working on the report. Do they still have outstanding "issues" and have BKY's "responses" resolved those? What are BKY and the project's various supporters and investors doing at the moment to ensure this gets permitted? It's certainly not a good time to be lying back with legs apart.

I guess as PIs we just have to await news and developments.

Hope everyone's been watching the news the last few weeks. Last chance saloon to save the planet from the CO2 blanket basically. The WMO say that without immediate drastic reductions in CO2 emissions from burning fossil fuels, the impact on life on earth will be irreversible. The window of opportunity to do something about it is closing. It's urgent, now or never. Many environmentalists support nuclear as part of the solution at least in the short or medium term, until alternative carbon-free reliable base-load power supply, and effective carbon capture technology, is available. Sensible people. Whilst the social and economic (money and jobs) cases for the mine are clear, hopefully the Socialists and Podemos will also appreciate the urgency and think through the broad global environmental aspects of the equation very thoroughly, as well as follow due process. Doesn't look like they're doing either at the moment. I hope pragmatism prevails and they permit this.

Imo people should focus on carbon emissions reduction particularly amongst the main offenders like USA and China burning dirty brown coal, and destruction of the Brazilian rain forest. And should embrace nuclear (at least for now), because the risks from greenhouse gas emissions are severe, immediate and much greater than those from uranium mining or the modern civil nuclear programme.