Berkeley Energia Limited ASX Response to Price and Volume Query (3472Q)
June 18 2020 - 1:00AM
UK Regulatory
TIDMBKY
RNS Number : 3472Q
Berkeley Energia Limited
18 June 2020
Berkeley Energia Limited
ASX Response to Price and Volume Query
Please find below a copy of Berkeley Energia Limited's (Company)
response to a price and volume query from the Australian Securities
Exchange (ASX):
18 June 2020
Wade Baggot
Australia Securities Exchange
Level 40, Central Park
152-158 St Georges terrace
Perth WA 6000
By email: Wade.Baggott@asx.com.au
Dear Wade,
Response to Price and Volume Query
In response to your correspondence dated 18 June 2020 regarding
an increase in the Company's share price and in the volume of
trading securities, the Company's response is as follows:
1. The Company is not aware of any information that has not been
announced which, if known, could be an explanation for recent
trading in the securities of the Company.
2. Not applicable.
3. The Company notes the recent increase in trading of its
shares on the Madrid Stock Exchange, which has seen an increase in
the Company's share price by over 70% since 15 June 2020 with over
115 million shares traded.
As previously announced, the Company's focus continues to be on
progressing the approvals required to commence construction of the
Salamanca mine and bring it into production.
The Company continues to engage with the relevant authorities in
a collaborative manner in order to facilitate the timely resolution
of the pending approvals required to commence construction of the
mine.
In late March, the Company formally submitted the updated
official documentation in relation to the Authorisation for
Construction ("NSC II") to the Nuclear Safety Council ("NSC"). The
next step in the process is for the NSC technical team to complete
its report and submit it to the NSC Board for ratification.
The Company further notes the strengthening of the uranium spot
price which stands at US$32.85 per pound and represents a year to
date increase of over 30%.
During the year, COVID-19 related supply disruptions have been
announced by Kazatomprom (Kazakhstan operations), Cameco (Cigar
Lake mine), CNNC (Rössing mine) and Swakop Uranium (Husab mine),
with analysts expecting further tightening of market conditions as
the current structural supply deficit in the global uranium market
is exacerbated by these and possible other COVID-19 supply
disruptions.
This increase in uranium prices has also generated increased
media interest and corporate activity, which has improved the
general sentiment in the uranium sector in recent months.
4. The Company confirms that it is in compliance with the
listing rules, in particular, Listing Rule 3.1.
5. The Company confirms that its responses to the questions
above have been authorised and approved in accordance with its
published continuous disclosure policy or otherwise by its board or
an officer of the Company with delegated authority from the board
to respond to ASX on disclosure matters.
Yours faithfully
[sent electronically without signature]
Dylan Browne
Company Secretary
For further information please contact:
Robert Behets Franciso Bellón
Acting Managing Director Chief Operations Officer
+61 8 9322 6322 +34 91 555 1380
info@berkeleyenergia.com
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END
RSPZVLBFBQLZBBB
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June 18, 2020 02:00 ET (06:00 GMT)
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