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London blue chip institutions heavily oversubscribe Berkeley Energia's (BKY) US$30 million raise to accelerate mine construction
Berkeley Energia (BKY) has successfully raised US$30 million to fund the accelerated construction of its Salamanca mine in Western Spain.
The placing has been heavily oversubscribed by London based blue chip generalist institutions who will dominate the register.
Following a decade of exploration and US$60million of investment, development of the Salamanca mine commenced in August 2016 and is now well underway.
Managing Director, Paul Atherley, commented:
“We are delighted with the strong institutional support for this financing which allows us to accelerate the development of the Salamanca mine.”
“The placing has been heavily oversubscribed by London based blue chip generalist institutions who will dominate the register once settlement completes.”
“This successful financing is a positive endorsement of the Salamanca project, a US$100m project that will be Europe’s only major uranium mine and one of the world’s biggest producers.”
“We are extremely encouraged by the ongoing strong local support for the project and in return we continue to be absolutely committed to the rejuvenation of the local community.
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“The Salamanca project will revitalise a region badly hit by long term unemployment, creating over 450 full time jobs and 2,000 indirect ones once in full production.”
“We look forward to updating shareholders on progress as we proceed with construction of the crushing circuit and other facilities associated with the main construction early next year.”
Berkeley Energia will be one of the world’s lowest cost uranium producers, reliably supplying long term customers from the heart of the European Union.
This US$100m project will be Europe’s only major uranium mine and will be one of the world’s biggest producers supplying over four million pounds of uranium concentrate a year, equivalent to approximately 10% of the continent’s total requirement.
To read the full announcement please click here
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