Berkeley Eng Regulatory News (BKY)

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 11 July 2019

Strategy and Management Changes

Berkeley Energia Limited ("Berkeley Energia" or "the Company") advises that Mr Paul Atherley has resigned as Managing Director and CEO of the Company to concentrate on his other investments in the resource sector. 

Mr Atherley has been Managing Director and CEO of Berkeley Energia since June 2015 and has been instrumental in its growth and development.

During his tenure the Company has significantly advanced the approvals for the development of the Salamanca mine up until the recent change in Government.

Despite the ongoing very low uranium price, Mr Atherley has led several highly successful financings which have placed the Company in a very strong financial position. He also led the listing on the Spanish stock exchanges which has resulted in over 30% of the Company's shares being held in Spain.

Mr Paul Atherley commented: "It has been a great pleasure to work with the very talented team in Spain over the past few years and it makes enormous sense to capitalise on the growing interest in the Company in Spain where it is now firmly established as the only listed mining company in the birthplace of Rio Tinto and modern mining as we know it today."

The board would like to take this opportunity to thank Mr Atherley for his very significant contribution to the Company and to wish him well in his future business endeavours.

The Company's focus continues to be on progressing the approvals required to commence construction of the Salamanca mine and bring it into production, as well as advancing the recently announced battery and EV metals exploration strategy.

The Company will however now set up its head office in Madrid and ultimately seek to recruit a suitably qualified Spanish National for the Managing Director and CEO role. Following on from the Company's successful listing on the Spanish Stock Exchanges in 2018, these initiatives are aimed at further enhancing the Company's strong engagement with its key stakeholders in Spain.

While the recruitment process for a suitable candidate for the Managing Director and CEO position takes place, Mr Robert Behets, Non-Executive Director, will assume the role of Acting Managing Director, with immediate effect, and will be assisted in Spain by Mr Francisco Bellón, the Company's Chief Operations Officer. 

Mr Behets, a geologist with 30 years' experience in the mineral exploration and mining industry, has been a Non-Executive Director of the Company since 2012. He has extensive uranium sector experience and has previously spent considerable time in Spain providing technical and managerial support to the Salamanca project team.

Mr Bellón will continue to manage the Company's day to day operations and now take a lead role in its stakeholder engagement activities in Spain.

Mr Behets will provide his services to the Company under a services agreement with Berkeley as disclosed in the latest Annual Report.

For further information please contact: