Member Info for SGD27

http://www.proactiveinvestors.co.uk/companies/news/183183/berkeley-energia-underlines-salamanca-s-quality-with-us120mln-finance-package-183183.html

http://www.proactiveinvestors.co.uk/companies/stocktube/8005/berkeley-energia-inks-phenomenal-120mln-strategic-financing-deal-8005.html

SAND now pretty much back to pre-MARL high :-)

I'm surprised how unresponsive the SP is to the changing price of gold. If the Panmure Gordon February report is to be believed, then the gearing should be something like 0.1p in SP per 7$ in PoG : https://arianaresources.com/component/rsfiles/download?path=Research%2BNotes%252FAriana%2BResources%2B_%2BWaiting%2Bfor%2Bthe%2BP%2Bword%2B01-Feb-2017.pdf (see table on Page 3) Obviously there's resistance due to the recent placing, but even so...

Gold up today, and SAND duly follows :-)

Some sites show mid-price (average of bid/ask) while others show the most recent trade price.

http://www.proactiveinvestors.co.uk/columns/the-pay-zone/28303/oil-price-sound-energy-genel-sundry-empyrean-thalassa-ukog-and-finally-28303.html "Thalassa has released interim results in a typically brief manner. Revenue, profits and margins are all up and despite there being no comment from the normally ebullient Chairman things seem to be going ok over there."

(BTW, if the "Director dealings" don't show up properly with that FT link, try refreshing or flipping between tabs.)

I don't think that Capita list is complete. This looks better : https://markets.ft.com/data/equities/tearsheet/directors?s=KEFI:LSE (NB the buys shown in 2017 are new shares, the rest are old). Adding these up, it looks like HAA holds about 5.7m (new) shares, which roughly agrees with the 5.8m (1.74%) stated in the 2016 annual report. This is at a total cost of £742k, so an average of about 13p/share. I don't think incentive/commitment can be doubted here. (I'd be very grateful if someone could double-check the calcs. DYOR etc.)

https://www.brrmedia.co.uk/broadcasts/597875c59ff3a6521c9fd8cc/berkeley-energia-analyst-interview-wh-ireland " Berkeley Energia - Analyst interview, WH Ireland WHI , BKY Wed, 26 Jul 2017, 02:00pm BST Paul Smith, analyst at WH Ireland, discusses the latest quarterly update from Berkeley Energia and the potential for unlocking value in the future. "

I suppose they might keep the board alive for a while if people keep posting. Disappointing drop in SAND/SSL today, given that PoG has been doing quite well over the last few days. I note that Nolan Watson will be making a couple of appearances at the Sprott Symposium in Vancouver, which starts tomorrow : https://www.naturalresourcesymposium.com/

If you're looking at the SWU figure, I think that's something different, to do with the added value following enrichment ("Separative Work Units") Here's another site : http://www.world-nuclear.org/information-library/nuclear-fuel-cycle/uranium-resources/uranium-markets.aspx which says "In June 2017 the spot price was $20.10 per pound U3O8, the long-term price quoted by UxC was $32." Caveat: this is me speaking as an expert after half an hour's internet research ;-)

Thanks, Freedomofpress. "...over $42/lb U3O8; much higher than current spot and term prices..." I hadn't appreciated that they're beating not only the spot price but also other term prices. I'm guessing that's mostly due to the geographical advantage?

Also BRR : https://www.brrmedia.co.uk/broadcasts/5975d3c8223c16290b3cf89c/berkeley-energia-development-of-the-salamanca-mine-progressing-well

https://audioboom.com/posts/6135296-829-hummingbird-resources-hum-berkeley-energia-bky-stratex-international-sti-and-malcy-on-pvr-pmo-panr-savp-fog " Paul Atherley, Managing Director of Berkeley Energia #BKY goes through some of the highlights from their quarterly report where the development of the Salamanca uranium mine is continuing to progress well. (Interview starts at 10 minutes 3 seconds) "

LSE doesn't seem to be picking up RNSs right now, so here's an alternative link : http://investing.thisismoney.co.uk/news/article/id/5597397

@shinymetal They're guessing that the (maximum potential) dividends will be 4.11p for each of the six years 2023 - 2028. That's a total of 24.66p per share. BUT money you expect to earn in the future is deemed to be less valuable than money in your pocket now. So that reduces to 10.4p now. By 2024, if all is still progressing as expected this would rise to 18.83p (because it's then less far into the future). Another very positive aspect of this report is that they seem to believe that the (equity component of) residual funding may be significantly reduced. In the 2nd BRR interview I posted earlier today Harry said he would be disappointed if they couldn't halve the residual $32m shortfall. This would make a huge difference to dilution if they follow the equity route. RFC Ambrian calculated 147% dilution based on $32m @ 5p/share (see post Tue 18th 10:45) so there's a lot to be gained if that can be significantly reduced! Hope this clarifies - and hope I've read it correctly: DYOR etc.

https://www.brrmedia.co.uk/broadcasts/596f644a223c16290b3cf280/kefi-minerals-project-funding-of-us135m-for-tulu-kapi-gold-project " KEFI Minerals - Project funding of US$135M for Tulu Kapi Gold Project KEFI Thu, 20 Jul 2017, 08:30am BST Harry Anagnostaras-Adams, Executive Chairman, discusses the major financing package of US$135 million to fund the development of the Tulu Kapi Gold Project in Ethiopia. This Project has been designed in close collaboration with the selected project contractors, Ausdrill for mining and Lycopodium for processing, and in partnership with the Ethiopian Government. "

Slide 27 of this recent Hummingbird presentation suggests that Ariana may be significantly undervalued (or perhaps will be, once fully into production), especially as the MCap is now even lower : http://hummingbirdresources.co.uk/_downloads/Hummingbird_Q3_Presentation.pdf (7MB download)

http://www.proactiveinvestors.co.uk/columns/the-rfc-ambrian-metals-mining-and-oil-gas-overview/28200/in-the-news-kefi-minerals-base-resources-28200.html " 08:58 18 Jul 2017 ... KEFI is continuing to make progress towards the financing and construction of its Tulu Kapi Gold Project in Ethiopia. Having announced the results of an updated DFS in late May, KEFI has agreed innovative, conditional arrangements for the provision of US$155m of its estimated financing requirement of US$193m. On-site infrastructure is to be funded by an SPV that will raise US$135m through debentures, with construction of the project via a fixed-price contract with the experts Lycopodium. Off-site infrastructure to the value of US$20m is to be provided by the Ethiopian Government. We reiterated our Buy rating and have revised our target price up from 8.8p to 9.0p. We are adjusting our target price after assuming that the company raises US$32m in equity at a price of £0.05/share, resulting in the issuance of 490m shares, equivalent to 147% of the outstanding share capital. We note that, should the company secure a working capital facility for the project, the equity issue could be significantly reduced, leading to a lower level of dilution. The stock is currently trading at a P/NAV of 0.5x, a significant discount to its peer group. We believe it offers a re-rating opportunity once the Ethiopian state of emergency has ended and the finance package has been completed. "