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Re: Berkeley Energía (BKY): Seguimiento de la acción
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Re: Berkeley Energía (BKY): Seguimiento de la acción
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#123
Re: Berkeley Energía (BKY): Seguimiento de la acción
INFORMACIÓN PRIVILEGIADA
NEWS RELEASE | 30 October 2020 Quarterly Report September 2020 Summary:
• Permitting Update:
The Company’s focus continues to be on progressing the approvals required to commence
construction of the Salamanca mine and bring it into production.
During the quarter, the Urbanism License (“UL”) was granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine.
The grant of the UL is a significant permitting milestone for Berkeley and a positive step in the development of the project. The Authorisation for Construction for the uranium concentrate plant as a radioactive facility (“NSC II”) is now the only pending approval required to commence full construction of the Salamanca mine.
The Company formally submitted updated official documentation in relation to the NSC II in March 2020. During the current quarter, the Company held further meetings with the Nuclear Safety Council (“NSC”) technical team to discuss and clarify minor queries on the updated documentation. As requested, the Company submitted written responses to these queries, along with additional technical information, to the NSC in September. The next step in the process is for the NSC technical team to finalise their report and submit it to the NSC Board for ratification.
The Company will continue to engage with the relevant authorities in a collaborative manner and maintain strong engagement with all key stakeholders in Spain, as it progresses the approvals process required to commence full construction of the Salamanca mine and bring it into production.
• Uranium Market:
Uranium spot price currently stands at US$30.45 per pound having drifted lower during the quarter, after a period of strong growth in the first half of 2020, due to reduced spot market transactional volumes.
The COVID-19 pandemic has disrupted global uranium production, adding to the supply curtailments that have occurred in the industry for many years, creating uncertainty in the nuclear fuel supply chain.
Analysts expect 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. The current market uncertainty is also expected to heighten concerns about the security of future supply.
• IBEX Small Cap Index:
The Technical Advisory Committee of the IBEX INDICES has decided to include Berkeley in the IBEX SMALL CAP® index. The index adjustment took effect on the Spanish Stock Exchanges on 19 October 2020.
The IBEX SMALL CAP® index is composed of 30 securities listed on the Spanish Stock Exchanges that follow certain requirements in terms of stock market capitalisation, free floating capital, and annual rotation of the free float capitalisation.
Berkeley Energia Limited | LSE / ASX / BdM: BKY | ABN: 40 052 468 569 | www.berkeleyenergia.com MADRID Calle Capitán Haya 1, Planta 15. Edificio Eurocentro, 28020 Madrid, Espana | T: +34 91 555 1380 PERTH Level 9, 28 The Esplanade, Perth WA 6000 | T: +61 8 9322 6322 | F: +61 8 9322 6558
• Spanish Regulatory Regime:
Subsequent to the end of the quarter, the parliamentary groups of two political parties in the Spanish Government submitted a series of proposed amendments to the draft climate change and energy transition bill.
Under one of the proposed amendments, investigation and exploitation of radioactive minerals (e.g. uranium) would be prohibited in the Spanish territory and any open proceedings related to the authorisation of radioactive facilities of the nuclear fuel cycle for the processing of such minerals would be closed.
It is important to note that this is currently only a proposed amendment to the draft climate change and energy transition bill that must now be reviewed and approved or rejected by the Commission of Ecological Transition of the Parliament, and subsequently follow the same process in the Senate. Accordingly, the specific proposed amendment relating to the investigation and exploitation of radioactive minerals may or may not be included in the final draft of the climate change and energy transition bill.
Berkeley’s position on the content of this proposed amendment is clear: prohibition of economic activities in Spain with no justified reasons is contrary to the Spanish Constitution and to the legal rights recognised by other international instruments. In particular, it must be taken into account that the Company currently holds legal, valid and consolidated rights for the investigation and exploitation of its mining projects, including a valid 30-year mining licence (renewable for two further periods of 30 years) for the Salamanca mine. The approval of an amendment of such nature would imply a retroactive measure which expropriates the legal rights of Berkeley with no justification.
Following the recent grant of the UL, and more than 120 previously granted permits and favourable reports by the relevant authorities at the local, regional, federal and European Union levels, the NSC II is now the only pending approval required to commence full construction of the Salamanca mine.
• COVID-19:
During the quarter, Spain began experiencing a second surge in COVID-19 cases, with spikes in new daily infection rates forcing the Government to reinstate both voluntary guidelines and mandatory restrictions and place parts of the country under temporary lockdown again.
Subsequent to the end of the quarter, the Government declared a new National ‘State of Alarm’. New COVID−19 control measures are in place throughout the country and include nightly curfews and a restriction on the number of people in social gatherings to six. Regional authorities have some restrictions on movement, however, international travel to and from Spain is still possible.
All of the Berkeley team based in Spain are safe and well. Consistent with current Government guidelines, the Company has continued its ‘work from home’ policy. Regular communication has however, been maintained with the relevant officials from the NSC and the federal, regional and local governments to ensure the permitting processes continued to advance, as evidenced by the award of the UL.
For further information please contact:
Robert Behets
Acting Managing Director +61 8 9322 6322 [email protected]
Franciso Bellón
Chief Operations Officer +34 91 555 1380
2
Permitting Update:
During the quarter, the UL was granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine.
The grant of the UL is a significant permitting milestone for Berkeley and a positive step in the development of the project. The NSC II permit is now the only pending approval required to commence full construction of the Salamanca mine.
As previously reported, at the request of the NSC, Berkeley consolidated the Company’s responses to all of the NSC’s technical queries into the official documentation, expanded the description of some sections (e.g. waste management, analysis of potential accidents, environmental radiological impact assessment, hydrological modelling), and formally submitted the updated official documentation to the NSC at the end of March.
During the current quarter, the Company held further meetings with the NSC technical team to discuss and clarify minor queries on the updated documentation. As requested by the NSC, the Company has submitted written responses to these queries, along with additional technical information, to the NSC.
The next step in this process is for the NSC technical team to finalise their report and submit it to the NSC Board for ratification. Once approved by the NSC Board, the NSC report and recommendation which is ‘compulsory and binding on radiological matters’ is provided to the Ministry of Ecological Transition and Demographic Change (“MITECO”), who is the substantive authority responsible for the granting NSC II.
In late July, the NSC issued a favourable report for the extension of the validity of NSC I for the process plant as a radioactive facility at the Salamanca project. NSC I was granted by the then Ministry of Industry, Energy and Tourism in September 2015, with a 5-year validity period. The favourable report issued by NSC considered that the circumstances and characteristics of the process plant are the same as those contained in the Initial Authorisation issued in 2015. The next step is for the MITECO to approve this authorisation and set its duration period.
The Company will continue to engage with the relevant authorities in a collaborative manner and maintain strong engagement with all key stakeholders in Spain, as it progresses the approval process required to commence full construction of the Salamanca mine and bring it into production.
Project Update:
The Salamanca mine is being developed to the highest international standards and the Company's commitment to health, safety and the environment remains a priority. It holds certificates in Sustainable Mining (UNE 22470-80), Environmental Management (ISO 14001), and Health and Safety (OHSAS 18001) which were awarded by AENOR, an independent Spanish government agency.
These management systems ensure that Company procedures are compliant with current regulations, ensure that the environment is protected, the project is sustainable, and that all activities are carried out with respect for and in collaboration with the local communities.
3
During the quarter, the annual internal audits of the Company’s Sustainable Mining and Environmental Management Systems were completed. The external audits of these management systems, which will be undertaken by AENOR, are scheduled for the upcoming December quarter.
The Company also continued the migration its Health and Safety Management System from OHSAS 18001 to its replacement standard, ISO 45001, a process which is targeted for completion prior to the end of 2020. As part of this process, an internal audit was completed during the quarter, with the external audit scheduled for the upcoming December quarter.
As part of its commitment to Sustainable Mining and continuous improvement, the Company designs an Objectives Program and Improvement Plan on an annual basis. New measures and targets implemented as part of this process are closely monitored and assessed to ensure the Company maintains a high level of performance in the areas of environmental management, health and safety, and sustainability.
An assessment of the Company’s performance against key indicators and targets in 2019 demonstrated that significant improvement had been achieved, including a 38% reduction in fuel consumption, a 12% reduction in energy consumption, a 19% reduction in paper consumption, and a 30% reduction in CO2 emissions.
During the quarter, the Company also developed a specific objectives program with the aim of aligning the Company’s business strategy and activities with the United Nation’s Sustainable Development Goals (“SDGs”).
The 2030 Agenda for Sustainable Development, adopted by all UN Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are 17 SDGs.
Berkeley is aware that the SDGs will only be achieved if companies proactively embrace these challenges and join the fight to restore the planet's ecological balance and address social challenges. To that end, the Company has designed an objectives program, analysing how to further contribute to the community and the environment, in order to work towards a sustainable future.
4
A detailed review of the Company’s business strategy and activities has shown a close alignment with the SDGs (compliance with 14 SDGs) demonstrating a commitment to the sustainable development that will continue throughout the execution of the entire project.
The monitoring programs associated with the NSC approved pre-operational Surveillance Plan for Radiological and Environmental Affections and pre-operational Surveillance Plan for the Control of the Underground Water continued during the quarter.
Spanish Regulatory Regime Update:
The parliamentary groups of two political parties in the Spanish Government (Unidas Podemos and PSOE) submitted a series of proposed amendments to the draft climate change and energy transition bill on 14 October 2020.
Under one of the proposed amendments, investigation and exploitation of radioactive minerals (e.g. uranium) would be prohibited in the Spanish territory and any open proceedings related to the authorisation of radioactive facilities of the nuclear fuel cycle for the processing of such minerals would be closed.
It is important to note that this is currently only a proposed amendment to the draft climate change and energy transition bill that must now be reviewed and approved or rejected by the Commission of Ecological Transition of the Parliament, and subsequently follow the same process in the Senate. The processes in both the Parliament and the Senate must be completed and consistent, and the
5
proposed amendment supported by a majority of votes in both Commissions for it to be approved. Accordingly, the specific proposed amendment relating to the investigation and exploitation of radioactive minerals may or may not be included in the final draft of the climate change and energy transition bill.
Berkeley’s position on the content of this proposed amendment is clear: prohibition of economic activities in Spain with no justified reasons is contrary to the Spanish Constitution and to the legal rights recognised by other international instruments. In particular, it must be taken into account that the Company currently holds legal, valid and consolidated rights for the investigation and exploitation of its mining projects, including a valid 30-year mining licence (renewable for two further periods of 30 years) for the Salamanca mine. The approval of an amendment of such nature would imply a retroactive measure which expropriates the legal rights of Berkeley with no justification.
Following the recent grant of the UL, and more than 120 previously granted permits and favourable reports by the relevant authorities at the local, regional, federal and European Union levels, the Authorisation for Construction for the uranium concentrate plant as a radioactive facility (“NSC II”) is now the only pending approval required to commence full construction of the Salamanca mine.
Uranium market:
Uranium spot price currently stands at US$30.45 per pound having drifted lower during the quarter, after a period of strong growth in the first half of 2020, due to reduced spot market transactional volumes.
The COVID-19 pandemic has disrupted global uranium production, adding to the supply curtailments that have occurred in the industry for many years, creating uncertainty in the nuclear fuel supply chain. COVID-19 related supply disruptions have been experienced by a number of major uranium producers, including by Kazatomprom (Kazakhstan operations), Cameco (Cigar Lake mine), CNNC (Rössing mine) and Swakop Uranium (Husab mine).
Analysts expect 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. The current market uncertainty is also expected to heighten concerns about the security of future supply.
IBEX Small Cap Index:
Subsequent to the end of the quarter, the Technical Advisory Committee of the IBEX INDICES decided to include Berkeley in the IBEX SMALL CAP® index. The index adjustment took effect on the Spanish Stock Exchanges on 19 October 2020.
The IBEX indices measure the performance of securities listed on the Spanish Stock Market. The IBEX SMALL CAP® index is a market capitalisation weighted index adjusted by free float. It is Euro-denominated and calculated in real-time within the European time zone.
The IBEX SMALL CAP® index is composed of 30 securities listed on the Spanish Stock Exchanges that follow certain requirements in terms of stock market capitalisation, free floating capital, and annual rotation of the free float capitalisation.
The Technical Advisory Committee of the IBEX INDICES reviews and adjusts the composition of IBEX SMALL CAP® index on a biannual basis.
COVID-19:
In June 2020, the Spanish Government lifted the National ‘State of Alarm’ relating to the COVID- 19 pandemic. In July, shops, bars, restaurants, beaches and Spain’s borders to Europe reopened, with free movement being allowed within the country.
6
During the quarter, Spain began experiencing a second surge in COVID-19 cases, with spikes in new daily infection rates forcing the Government to reinstate both voluntary guidelines and mandatory restrictions and place parts of the country, particularly in the north-eastern region of Catalonia, under temporary lockdown again.
Subsequent to the end of the quarter, the Spanish Government has declared a new National ‘State of Alarm’. In line with the Spanish Constitution, the Cabinet has approved it for an original duration of 15 days however, the Government has announced that it intends to seek approval to extend it. New COVID−19 control measures are in place throughout the country and include nightly curfews and a restriction on the number of people in social gatherings to six. Regional authorities have some restrictions on movement, however, international travel to and from Spain is still possible.
All of the Berkeley team based in Spain are safe and well. Consistent with current Government guidelines, the Company has continued its ‘work from home’ policy. Regular communication has however, been maintained with the relevant officials from the NSC and the federal, regional and local governments to ensure the permitting processes continued to advance, as evidenced by the award of the UL.
Corporate:
Subsequent to the end of the quarter, Mr Nigel Jones advised the Company that he will not be standing for re-election as a Director at the Company’s upcoming Annual General Meeting (“AGM”) on 25 November 2020 due to corporate governance requirements at Rio Tinto. Mr Jones currently holds the position of Managing Director of the Simandou iron ore project and policies at Rio Tinto do not allow Mr Jones to sit on other publicly listed boards. Mr Jones will resign as a Director of the Company following the completion of the AGM.
Balance Sheet:
The Company is in a strong financial position with A$87 million in cash.
Forward Looking Statements
Statements regarding plans with respect to Berkeley’s mineral properties are forward-looking statements. There can be no assurance that Berkeley’s plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Berkeley will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Berkeley mineral properties. These forward-looking statements are based on Berkeley’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Berkeley, which could cause actual results to differ materially from such statements. Berkeley makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.
This announcement has been authorised for release by Mr Robert Behets, Director.
NEWS RELEASE | 30 October 2020 Quarterly Report September 2020 Summary:
• Permitting Update:
The Company’s focus continues to be on progressing the approvals required to commence
construction of the Salamanca mine and bring it into production.
During the quarter, the Urbanism License (“UL”) was granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine.
The grant of the UL is a significant permitting milestone for Berkeley and a positive step in the development of the project. The Authorisation for Construction for the uranium concentrate plant as a radioactive facility (“NSC II”) is now the only pending approval required to commence full construction of the Salamanca mine.
The Company formally submitted updated official documentation in relation to the NSC II in March 2020. During the current quarter, the Company held further meetings with the Nuclear Safety Council (“NSC”) technical team to discuss and clarify minor queries on the updated documentation. As requested, the Company submitted written responses to these queries, along with additional technical information, to the NSC in September. The next step in the process is for the NSC technical team to finalise their report and submit it to the NSC Board for ratification.
The Company will continue to engage with the relevant authorities in a collaborative manner and maintain strong engagement with all key stakeholders in Spain, as it progresses the approvals process required to commence full construction of the Salamanca mine and bring it into production.
• Uranium Market:
Uranium spot price currently stands at US$30.45 per pound having drifted lower during the quarter, after a period of strong growth in the first half of 2020, due to reduced spot market transactional volumes.
The COVID-19 pandemic has disrupted global uranium production, adding to the supply curtailments that have occurred in the industry for many years, creating uncertainty in the nuclear fuel supply chain.
Analysts expect 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. The current market uncertainty is also expected to heighten concerns about the security of future supply.
• IBEX Small Cap Index:
The Technical Advisory Committee of the IBEX INDICES has decided to include Berkeley in the IBEX SMALL CAP® index. The index adjustment took effect on the Spanish Stock Exchanges on 19 October 2020.
The IBEX SMALL CAP® index is composed of 30 securities listed on the Spanish Stock Exchanges that follow certain requirements in terms of stock market capitalisation, free floating capital, and annual rotation of the free float capitalisation.
Berkeley Energia Limited | LSE / ASX / BdM: BKY | ABN: 40 052 468 569 | www.berkeleyenergia.com MADRID Calle Capitán Haya 1, Planta 15. Edificio Eurocentro, 28020 Madrid, Espana | T: +34 91 555 1380 PERTH Level 9, 28 The Esplanade, Perth WA 6000 | T: +61 8 9322 6322 | F: +61 8 9322 6558
• Spanish Regulatory Regime:
Subsequent to the end of the quarter, the parliamentary groups of two political parties in the Spanish Government submitted a series of proposed amendments to the draft climate change and energy transition bill.
Under one of the proposed amendments, investigation and exploitation of radioactive minerals (e.g. uranium) would be prohibited in the Spanish territory and any open proceedings related to the authorisation of radioactive facilities of the nuclear fuel cycle for the processing of such minerals would be closed.
It is important to note that this is currently only a proposed amendment to the draft climate change and energy transition bill that must now be reviewed and approved or rejected by the Commission of Ecological Transition of the Parliament, and subsequently follow the same process in the Senate. Accordingly, the specific proposed amendment relating to the investigation and exploitation of radioactive minerals may or may not be included in the final draft of the climate change and energy transition bill.
Berkeley’s position on the content of this proposed amendment is clear: prohibition of economic activities in Spain with no justified reasons is contrary to the Spanish Constitution and to the legal rights recognised by other international instruments. In particular, it must be taken into account that the Company currently holds legal, valid and consolidated rights for the investigation and exploitation of its mining projects, including a valid 30-year mining licence (renewable for two further periods of 30 years) for the Salamanca mine. The approval of an amendment of such nature would imply a retroactive measure which expropriates the legal rights of Berkeley with no justification.
Following the recent grant of the UL, and more than 120 previously granted permits and favourable reports by the relevant authorities at the local, regional, federal and European Union levels, the NSC II is now the only pending approval required to commence full construction of the Salamanca mine.
• COVID-19:
During the quarter, Spain began experiencing a second surge in COVID-19 cases, with spikes in new daily infection rates forcing the Government to reinstate both voluntary guidelines and mandatory restrictions and place parts of the country under temporary lockdown again.
Subsequent to the end of the quarter, the Government declared a new National ‘State of Alarm’. New COVID−19 control measures are in place throughout the country and include nightly curfews and a restriction on the number of people in social gatherings to six. Regional authorities have some restrictions on movement, however, international travel to and from Spain is still possible.
All of the Berkeley team based in Spain are safe and well. Consistent with current Government guidelines, the Company has continued its ‘work from home’ policy. Regular communication has however, been maintained with the relevant officials from the NSC and the federal, regional and local governments to ensure the permitting processes continued to advance, as evidenced by the award of the UL.
For further information please contact:
Robert Behets
Acting Managing Director +61 8 9322 6322 [email protected]
Franciso Bellón
Chief Operations Officer +34 91 555 1380
2
Permitting Update:
During the quarter, the UL was granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine.
The grant of the UL is a significant permitting milestone for Berkeley and a positive step in the development of the project. The NSC II permit is now the only pending approval required to commence full construction of the Salamanca mine.
As previously reported, at the request of the NSC, Berkeley consolidated the Company’s responses to all of the NSC’s technical queries into the official documentation, expanded the description of some sections (e.g. waste management, analysis of potential accidents, environmental radiological impact assessment, hydrological modelling), and formally submitted the updated official documentation to the NSC at the end of March.
During the current quarter, the Company held further meetings with the NSC technical team to discuss and clarify minor queries on the updated documentation. As requested by the NSC, the Company has submitted written responses to these queries, along with additional technical information, to the NSC.
The next step in this process is for the NSC technical team to finalise their report and submit it to the NSC Board for ratification. Once approved by the NSC Board, the NSC report and recommendation which is ‘compulsory and binding on radiological matters’ is provided to the Ministry of Ecological Transition and Demographic Change (“MITECO”), who is the substantive authority responsible for the granting NSC II.
In late July, the NSC issued a favourable report for the extension of the validity of NSC I for the process plant as a radioactive facility at the Salamanca project. NSC I was granted by the then Ministry of Industry, Energy and Tourism in September 2015, with a 5-year validity period. The favourable report issued by NSC considered that the circumstances and characteristics of the process plant are the same as those contained in the Initial Authorisation issued in 2015. The next step is for the MITECO to approve this authorisation and set its duration period.
The Company will continue to engage with the relevant authorities in a collaborative manner and maintain strong engagement with all key stakeholders in Spain, as it progresses the approval process required to commence full construction of the Salamanca mine and bring it into production.
Project Update:
The Salamanca mine is being developed to the highest international standards and the Company's commitment to health, safety and the environment remains a priority. It holds certificates in Sustainable Mining (UNE 22470-80), Environmental Management (ISO 14001), and Health and Safety (OHSAS 18001) which were awarded by AENOR, an independent Spanish government agency.
These management systems ensure that Company procedures are compliant with current regulations, ensure that the environment is protected, the project is sustainable, and that all activities are carried out with respect for and in collaboration with the local communities.
3
During the quarter, the annual internal audits of the Company’s Sustainable Mining and Environmental Management Systems were completed. The external audits of these management systems, which will be undertaken by AENOR, are scheduled for the upcoming December quarter.
The Company also continued the migration its Health and Safety Management System from OHSAS 18001 to its replacement standard, ISO 45001, a process which is targeted for completion prior to the end of 2020. As part of this process, an internal audit was completed during the quarter, with the external audit scheduled for the upcoming December quarter.
As part of its commitment to Sustainable Mining and continuous improvement, the Company designs an Objectives Program and Improvement Plan on an annual basis. New measures and targets implemented as part of this process are closely monitored and assessed to ensure the Company maintains a high level of performance in the areas of environmental management, health and safety, and sustainability.
An assessment of the Company’s performance against key indicators and targets in 2019 demonstrated that significant improvement had been achieved, including a 38% reduction in fuel consumption, a 12% reduction in energy consumption, a 19% reduction in paper consumption, and a 30% reduction in CO2 emissions.
During the quarter, the Company also developed a specific objectives program with the aim of aligning the Company’s business strategy and activities with the United Nation’s Sustainable Development Goals (“SDGs”).
The 2030 Agenda for Sustainable Development, adopted by all UN Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are 17 SDGs.
Berkeley is aware that the SDGs will only be achieved if companies proactively embrace these challenges and join the fight to restore the planet's ecological balance and address social challenges. To that end, the Company has designed an objectives program, analysing how to further contribute to the community and the environment, in order to work towards a sustainable future.
4
A detailed review of the Company’s business strategy and activities has shown a close alignment with the SDGs (compliance with 14 SDGs) demonstrating a commitment to the sustainable development that will continue throughout the execution of the entire project.
The monitoring programs associated with the NSC approved pre-operational Surveillance Plan for Radiological and Environmental Affections and pre-operational Surveillance Plan for the Control of the Underground Water continued during the quarter.
Spanish Regulatory Regime Update:
The parliamentary groups of two political parties in the Spanish Government (Unidas Podemos and PSOE) submitted a series of proposed amendments to the draft climate change and energy transition bill on 14 October 2020.
Under one of the proposed amendments, investigation and exploitation of radioactive minerals (e.g. uranium) would be prohibited in the Spanish territory and any open proceedings related to the authorisation of radioactive facilities of the nuclear fuel cycle for the processing of such minerals would be closed.
It is important to note that this is currently only a proposed amendment to the draft climate change and energy transition bill that must now be reviewed and approved or rejected by the Commission of Ecological Transition of the Parliament, and subsequently follow the same process in the Senate. The processes in both the Parliament and the Senate must be completed and consistent, and the
5
proposed amendment supported by a majority of votes in both Commissions for it to be approved. Accordingly, the specific proposed amendment relating to the investigation and exploitation of radioactive minerals may or may not be included in the final draft of the climate change and energy transition bill.
Berkeley’s position on the content of this proposed amendment is clear: prohibition of economic activities in Spain with no justified reasons is contrary to the Spanish Constitution and to the legal rights recognised by other international instruments. In particular, it must be taken into account that the Company currently holds legal, valid and consolidated rights for the investigation and exploitation of its mining projects, including a valid 30-year mining licence (renewable for two further periods of 30 years) for the Salamanca mine. The approval of an amendment of such nature would imply a retroactive measure which expropriates the legal rights of Berkeley with no justification.
Following the recent grant of the UL, and more than 120 previously granted permits and favourable reports by the relevant authorities at the local, regional, federal and European Union levels, the Authorisation for Construction for the uranium concentrate plant as a radioactive facility (“NSC II”) is now the only pending approval required to commence full construction of the Salamanca mine.
Uranium market:
Uranium spot price currently stands at US$30.45 per pound having drifted lower during the quarter, after a period of strong growth in the first half of 2020, due to reduced spot market transactional volumes.
The COVID-19 pandemic has disrupted global uranium production, adding to the supply curtailments that have occurred in the industry for many years, creating uncertainty in the nuclear fuel supply chain. COVID-19 related supply disruptions have been experienced by a number of major uranium producers, including by Kazatomprom (Kazakhstan operations), Cameco (Cigar Lake mine), CNNC (Rössing mine) and Swakop Uranium (Husab mine).
Analysts expect 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. The current market uncertainty is also expected to heighten concerns about the security of future supply.
IBEX Small Cap Index:
Subsequent to the end of the quarter, the Technical Advisory Committee of the IBEX INDICES decided to include Berkeley in the IBEX SMALL CAP® index. The index adjustment took effect on the Spanish Stock Exchanges on 19 October 2020.
The IBEX indices measure the performance of securities listed on the Spanish Stock Market. The IBEX SMALL CAP® index is a market capitalisation weighted index adjusted by free float. It is Euro-denominated and calculated in real-time within the European time zone.
The IBEX SMALL CAP® index is composed of 30 securities listed on the Spanish Stock Exchanges that follow certain requirements in terms of stock market capitalisation, free floating capital, and annual rotation of the free float capitalisation.
The Technical Advisory Committee of the IBEX INDICES reviews and adjusts the composition of IBEX SMALL CAP® index on a biannual basis.
COVID-19:
In June 2020, the Spanish Government lifted the National ‘State of Alarm’ relating to the COVID- 19 pandemic. In July, shops, bars, restaurants, beaches and Spain’s borders to Europe reopened, with free movement being allowed within the country.
6
During the quarter, Spain began experiencing a second surge in COVID-19 cases, with spikes in new daily infection rates forcing the Government to reinstate both voluntary guidelines and mandatory restrictions and place parts of the country, particularly in the north-eastern region of Catalonia, under temporary lockdown again.
Subsequent to the end of the quarter, the Spanish Government has declared a new National ‘State of Alarm’. In line with the Spanish Constitution, the Cabinet has approved it for an original duration of 15 days however, the Government has announced that it intends to seek approval to extend it. New COVID−19 control measures are in place throughout the country and include nightly curfews and a restriction on the number of people in social gatherings to six. Regional authorities have some restrictions on movement, however, international travel to and from Spain is still possible.
All of the Berkeley team based in Spain are safe and well. Consistent with current Government guidelines, the Company has continued its ‘work from home’ policy. Regular communication has however, been maintained with the relevant officials from the NSC and the federal, regional and local governments to ensure the permitting processes continued to advance, as evidenced by the award of the UL.
Corporate:
Subsequent to the end of the quarter, Mr Nigel Jones advised the Company that he will not be standing for re-election as a Director at the Company’s upcoming Annual General Meeting (“AGM”) on 25 November 2020 due to corporate governance requirements at Rio Tinto. Mr Jones currently holds the position of Managing Director of the Simandou iron ore project and policies at Rio Tinto do not allow Mr Jones to sit on other publicly listed boards. Mr Jones will resign as a Director of the Company following the completion of the AGM.
Balance Sheet:
The Company is in a strong financial position with A$87 million in cash.
Forward Looking Statements
Statements regarding plans with respect to Berkeley’s mineral properties are forward-looking statements. There can be no assurance that Berkeley’s plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Berkeley will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Berkeley mineral properties. These forward-looking statements are based on Berkeley’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Berkeley, which could cause actual results to differ materially from such statements. Berkeley makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.
This announcement has been authorised for release by Mr Robert Behets, Director.
#124
Berkeley Energía (BKY)
La Justicia da la razón al Ayuntamiento de Retortillo frente a la denuncia por la tala de encinas
El Tribunal Superior de Justicia de Castilla y León, TSJ, ha desestimado el recurso de apelación presentado por una agrupación ecologista contraria al proyecto minero de Retortillo contra la sentencia de 2018 del Juzgado de lo Contencioso Administrativo Número 1 de Salamanca sobre la tala de encinas, dándole la razón al Ayuntamiento, que encabeza el alcalde Eustaquio Martín, en su actuación.
El Tribunal Superior de Justicia de Castilla y León, TSJ, ha desestimado el recurso de apelación presentado por una agrupación ecologista contraria al proyecto minero de Retortillo contra la sentencia de 2018 del Juzgado de lo Contencioso Administrativo Número 1 de Salamanca sobre la tala de encinas, dándole la razón al Ayuntamiento, que encabeza el alcalde Eustaquio Martín, en su actuación.
La asociación ecologista presentó en el año 2017 en el Consistorio de Retortillo una solicitud de paralización de la tala de encinas que estaba efectuando en ese momento la compañía Berkeley Minera España, para el desarrollo de su proyecto de explotación de uranio, solicitando la incoación de un procedimiento sancionador y de restauración de la legalidad.
El Ayuntamiento se declaró incompetente para ordenar la paralización de la tala de encinas, así como para incoar el procedimiento sancionador, ante lo que la asociación anti-mina presentó un recurso contencioso que dio, en 2018, la razón al Consistorio de Retortillo.
Ahora, el TSJ ha vuelto a dar la razón al Ayuntamiento de Retortillo, desestimando el recurso de apelación y, al mismo tiempo, imponiendo las costas a los apelantes.
El Ayuntamiento se declaró incompetente para ordenar la paralización de la tala de encinas, así como para incoar el procedimiento sancionador, ante lo que la asociación anti-mina presentó un recurso contencioso que dio, en 2018, la razón al Consistorio de Retortillo.
Ahora, el TSJ ha vuelto a dar la razón al Ayuntamiento de Retortillo, desestimando el recurso de apelación y, al mismo tiempo, imponiendo las costas a los apelantes.
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Re: Berkeley Energía (BKY): Seguimiento de la acción
#126
Re: Berkeley Energía (BKY): Seguimiento de la acción
Y esta es de hoy:
- Sus acciones tocan precios máximos no vistos desde septiembre
- El 'visto bueno' del Ejecutivo se suma al del Consejo de Seguridad Nuclear
- La semana pasada el Supremo confirmó que la autorización es legal
El Ministerio para la Transición Ecológica y el Reto Demográfico ha concedido a Berkeley la renovación de la autorización inicial de la planta de concentrados de uranio en Retortillo (Salamanca) como instalación radiactiva, según ha informado este lunes la compañía a la Comisión Nacional del Mercado de Valores (CNMV).
La noticia provoca que las acciones de Berkeley Energía, cotizadas en el Mercado Continuo de la bolsa española, suban con fuerza en la sesión de este lunes.
En concreto, los títulos han marcado un precio máximo intradía de 0,5 euros frente los 0,433 en los que terminaron el viernes, lo que supone una revalorización diaria de hasta el 15,5% y tocar precios no vistos desde septiembre.
Esta renovación sigue a la del Consejo de Seguridad Nuclear (CSN) del pasado mes de julio, que informó favorablemente de la solicitud presentada por Berkeley para la renovación de la autorización previa de la planta y consideró que las circunstancias y características de la planta de concentrado de uranio son las mismas que se recogen en la autorización previa emitida en 2015.
Esta renovación sigue a la del Consejo de Seguridad Nuclear (CSN) del pasado mes de julio, que informó favorablemente de la solicitud presentada por Berkeley para la renovación de la autorización previa de la planta y consideró que las circunstancias y características de la planta de concentrado de uranio son las mismas que se recogen en la autorización previa emitida en 2015.
La semana pasada, el Tribunal Supremo confirmó además la legalidad de la autorización previa para el desarrollo de la planta de concentrados de uranio en Salamanca.
El Alto Tribunal desestimó así el recurso de casación planteado por Foro de izquierdas-Los verdes y Adeco Ecologistas en Acción contra la autorización que había conseguido para esta mina, confirmando una sentencia previa de la Audiencia Nacional.
La compañía ha asegurado que sigue colaborando con las autoridades competentes en el proceso de aprobación de la mina de Salamanca y mantendrá al mercado plenamente informado sobre cualquier aspecto relacionado con la planta.
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Re: Berkeley Energía (BKY): Seguimiento de la acción
#128
Re: Berkeley Energía (BKY): Seguimiento de la acción
Berkeley Energía se viene a España tras el Brexit
Berkeley Energia ha comunicado que el Estado miembro de origen de la compañía para la negociación de sus acciones en la Unión Europea dejará de ser automáticamente el Reino Unido y pasará a ser España y la autoridad competente la Comisión Nacional del Mercado de Valores (CMNV), tras la consumación del ‘Brexit’.
En una comunicación al regulador bursátil, la empresa indicó que adopta esta decisión una vez finalizado este 1 de enero el período de transición de Reino Unido.
La compañía señaló que la situación del Estado miembro de origen puede revisarse en caso de que se establezca algún acuerdo futuro entre el Reino Unido y la Unión Europea.
No obstante, las acciones de Berkeley Energia, propietario del proyecto de la mina de uranio de Retortillo (Salamanca), seguirán cotizando también en las Bolsas de Valores de Australia y de Londres.
El pasado 1 de enero se rompieron definitivamente los lazos de Reino Unido con la Unión Europea, poniendo así fin a casi medio siglo de unión en el bloque europeo y cuatro años después de que los británicos votasen a favor del Brexit.
Reino Unido ya había dejado oficialmente el club de los 27 el pasado 31 de enero, aunque con la entrada de 2021 sale también del mercado común y la unión aduanera.
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Re: Berkeley Energía (BKY): Seguimiento de la acción
El desenlace del culebrón Berkeley.
La reunión del próximo viernes 29 del Consejo de Seguridad Nuclear (CSN) es inusual, porque no suelen celebrar sesión alguna ese día de la semana.
Este hecho ha dado pie a que se piense que en esa reunión del Consejo podría decidirse la autorización definitiva (o no) de la mina de uranio.
Hoy Berkeley ha subido un 8,4% y con volumen por lo que puede intuirse que estamos a las puertas de la resolución del CSN o al menos esto es lo que piensa el mercado y obra en consecuencia. Hay que contemplar todas las posibilidades porque también podría ser que fuese un calentón sin fundamento más que el posible resultado de una filtración.
La reunión del próximo viernes 29 del Consejo de Seguridad Nuclear (CSN) es inusual, porque no suelen celebrar sesión alguna ese día de la semana.
Este hecho ha dado pie a que se piense que en esa reunión del Consejo podría decidirse la autorización definitiva (o no) de la mina de uranio.
Hoy Berkeley ha subido un 8,4% y con volumen por lo que puede intuirse que estamos a las puertas de la resolución del CSN o al menos esto es lo que piensa el mercado y obra en consecuencia. Hay que contemplar todas las posibilidades porque también podría ser que fuese un calentón sin fundamento más que el posible resultado de una filtración.
En cualquier caso, si en las sesiones de mañana jueves y pasado mañana viernes el titulo sigue revalorizándose con volúmenes tan importantes como los de hoy, eso querrá decir que el viernes por la tarde-noche una vez cerrada Bolsa muy probablemente el CSN notifique a Berkeley la resolución final (favorable por supuesto) sobre la mina. Y ya el lunes antes de la apertura del mercado Berkeley lo comunicaría mediante una IP a la CNMV.
Desde el punto de vista técnico, hay que tener en cuenta que el precio en grafico diario vuelve a estar por encima de las medias por lo tanto el título vuelve a la situación de alcista y en semanal tan solo le queda por superar la EMA200 que es la que está frenando el despegue de la cotización.
Si en la sesión de mañana jueves el valor reanudase su recorrido alcista, en plan especulativo sería cuestión de irse posicionando en el valor arriesgando cantidades que representasen importes ínfimos de la cartera (entre un 2% y un 4%). Las apuestas estarían un 75% de que habrá resolución favorable y un 25% de que no. El riesgo es evidente, pero también hay mucho a ganar porque la acción entraría en subasta y el precio de apertura podría situarse en torno al euro.
En caso de que la resolución del CSN se pospusiera es obvio que el titulo caerá, pero habría que seguir manteniendo posiciones, porque el desenlace definitivo de este culebrón se debiera de producir antes del 28 de febrero.
Obviamente con este post no intento convencer a nadie para que siga esta recomendación. Me limito a exponer mi manera de proceder al respecto ante la inminente resolución de este caso.
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Re: Berkeley Energía (BKY): Seguimiento de la acción
El Consejo de Seguridad Nuclear denuncia presiones para que autorice una mina de uranio
El supervisor rechaza las “solicitudes e insinuaciones impropias” que directivos y accionistas de la empresa Berkeley le han transmitido por escrito en los últimos meses. El CSN envía las cartas a la Abogacía del Estado
Manuel Planelles Madrid - 28 ENE 2021 - 14:07 CET
Comentario
Este artículo sobre Berkeley publicado en “elpais.com” es relevante y hay que darle importancia por beber este medio de comunicación en fuentes cercanas al gobierno, siendo en muchas ocasiones la correa de transmisión de su política.
Este artículo sobre Berkeley publicado en “elpais.com” es relevante y hay que darle importancia por beber este medio de comunicación en fuentes cercanas al gobierno, siendo en muchas ocasiones la correa de transmisión de su política.
El CSN saca ahora a relucir las “presiones” recibidas, (que no habría que calificarlas como tales, sino simples opiniones) y que datan como mínimo del año pasado. Y si lo hace ahora es por algo: para tenerlas como excusa para posponer su decisión sobre la mina hasta que la Abogacía del Estado se pronuncie sobre si las “presiones” recibidas por el CSN son constitutivas de delito.
Esta demora del pronunciamiento del CSN tendría como objetivo conceder el permiso a la mina cuando ya haya entrado en vigor la Ley del Cambio Climático, para de esta manera responsabilizar del “no a la mina” a una Ley en vigor y no a nadie en concreto.
Tras la lectura de este artículo se aprecia que las expectativas de apertura de la mina van menguando. Por el análisis de sus párrafos, se deduce que en este momento ya sería del 50% la probabilidad de aprobación frente al 50% de la no-autorización. Y si la prensa oficialista o las notificaciones oficiales profundizan en la orientación abierta por este artículo de “elpais.com” la posibilidad de apertura de la mina tenderá a cero.
Si en el plazo de quince días la situación sigue en su estancamiento actual, hay que vender Berkeley porque lo más creíble es que suceda lo antedicho: que los plazos se vayan dilatando y que la mina sea aprobada por el CSN, una vez entre en vigor la Ley del Cambio Climático.
Esto son deducciones muy particulares sin ánimo de influir en nadie acerca de la manera de proceder con este valor.
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Re: Berkeley Energía (BKY): Seguimiento de la acción
Muy buenas Javiro! Después de estas dos semanas, ¿Como ves la situación de Berkeley?
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Re: Berkeley Energía (BKY): Seguimiento de la acción
Hola
La situación de Berkeley no la veo bien. El próximo día 26, el presidente del CSN va al parlamento a informar de supuestas amenazas contra la institución, cuando lo único que se ha hecho es anunciar las acciones legales que se iban a emprender en caso de no autorizarse la mina. ¿Te imaginas que el presidente del CSN se presentara ese día en el Parlamento con la autorización de la mina ya concedida?. Es imposible. Por eso la escalada alcista de ayer no tiene ningún sentido.
La situación de Berkeley no la veo bien. El próximo día 26, el presidente del CSN va al parlamento a informar de supuestas amenazas contra la institución, cuando lo único que se ha hecho es anunciar las acciones legales que se iban a emprender en caso de no autorizarse la mina. ¿Te imaginas que el presidente del CSN se presentara ese día en el Parlamento con la autorización de la mina ya concedida?. Es imposible. Por eso la escalada alcista de ayer no tiene ningún sentido.
Antes de ese día (26 de febrero) no puede suceder nada. Y para después de ese día, tampoco lo veo muy claro, pues ya ha quedado demostrado que la política del CSN es buscar cuantas más excusas mejor para así tener motivos para alargar en todo lo posible los plazos de toma decisiones sobre la mina, a la espera de que se apruebe la Ley de Cambio Climático que impediría la apertura de la mina independientemente la resolución que tomase el CSN.
Resumiendo: La nueva estrategia del CSN es clara: ir dando largas al asunto, buscando cualquier excusa tanto de naturaleza técnica (sobre detalles del proceso de cierre de la mina tras su explotación) como política (las supuestas amenazas). Mi impresión es que este tema de la autorización va para largo y se está convirtiendo en una auténtica tomadura de pelo por parte de cinco señores que temen que sus decisiones "molesten" al Gobierno.
Un accionista debe de empezar a mentalizarse de que es preferible dejar de ganar y que no le tomen el pelo. Los del CSN se agarran a cualquier cosa para dilatar una decisión que deberían de tomar este mes, pero no lo van a hacer por miedos políticos a la espera de la Ley de Cambio Climático. La inversión en Berkeley es cada vez más una lotería en la que ni siquiera se sabe el día del sorteo.
Lo que yo he hecho es aprovechar esta subida para vender el 50% e invertirlo en Solaria que he podido entrar a 21. Y muy probablemente en la primera quincena de marzo liquide posiciones en Berkeley sobre todo si Solaria cae por debajo de 20.
Saludos.
Saludos.
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Re: Berkeley Energía (BKY): Seguimiento de la acción
Muchas gracias por tu respuesta. Un saludo!
#134
Berkeley ofrece 400 millones para salvar la mina
#135
Re: Berkeley Energía (BKY): Seguimiento de la acción
Hola, se agradece comentario sobre
https://www.cnmv.es/portal/verDoc.axd?t={ce9ce9c1-acd4-4e63-aca3-144d9adb4269}
https://www.cnmv.es/portal/verDoc.axd?t={ce9ce9c1-acd4-4e63-aca3-144d9adb4269}