Sign In
Last checked at 
16 Jul 2008 07:00
ο»Ώ
16 JulyΒ 2008
Berkeley chosen as partnerΒ to developΒ ENUSA assets inΒ spain
The Directors of Berkeley Resources Limited (AIM: BKY.L) are pleased toΒ advise that the Company has been chosenΒ by ENUSA Industrias Avanzadas S.A.Β as that company'sΒ partner to conduct a feasibility study upon and ultimately develop ENUSA's uranium mining assets in Salamanca Province, Spain.
The assets include a number of "State Reserve" licence areas which have been extensively explored by ENUSA, but which do not presently contain resources compliant with the JORC Code. The partnership also includes access to the Quercus uranium processing plant, which was operated by ENUSA until 2003 and has been in care and maintenanceΒ (withoutΒ a comminution circuit) since then.
BerkeleyΒ willΒ complete a feasibility study on mining the State Reserves andΒ processing through the Quercus plant. In parallel,Β BerkeleyΒ will continue toΒ advanceΒ itsΒ 100% ownedΒ SalamancaΒ projects - which currently have a JORC resource of 16.9m lbs of U3O8Β - for possible processing through the Quercus plant, located about 30km away.
The companies are continuing negotiation of the terms of the partnership and do not expect this will be completed until after the Spanish summer vacation.Β The agreement will then be submitted toΒ the Spanish Council of MinistersΒ for approval.Β
Further details will be advisedΒ when the agreement is completed.
EnquiriesΒ Β - Managing Director: Matt Syme Tel:Β Β +61 417 906 717 Β
RBC Capital Markets:Β Martin Eales Tel: +44 20 7029 7881
Follow the stocks
