Berkeley Energia Limited Major shareholder backs BKY - finance at a premium (7169X)
2016年5月10日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMBKY
RNS Number : 7169X
Berkeley Energia Limited
10 May 2016
BERKELEY ENERGIA LIMITED
AIM RELEASE | 10 MAY 2016 | AIM: BKY
Major shareholder backs Berkeley Energia with financing at a
premium
Major shareholder Resource Capital Funds (RCF) has demonstrated
its strong support for the Company with a royalty financing and by
increasing its stake in the Company with an equity financing issued
at a premium to the current share price.
The US$10 million financing allows the Company to progress major
infrastructure work and exploration programmes ahead of the main
development financing which is expected to be undertaken during the
second half of 2016.
The financing comprises the issue of US$5 million worth of
ordinary shares in the Company at a price of 32 pence per share
which represents a premium of approximately 9% to the 10-day VWAP
and 15% to the 30-day VWAP, highlighting the strength of the
project and its robust economics even at the current low uranium
prices.
RCF has also agreed to provide an additional US$5 million though
the sale of a 0.375% fully secured net smelter royalty over the
project, subject to final documentation. The royalty is consistent
with the Company's focus on minimising dilution in order to protect
the equity value of its shareholders.
Managing Director Paul Atherley commented:
"The funding allows us to undertake the initial infrastructure
development ahead of the commencement of main construction and
financing later in the year. In addition it will allow us to target
a number of the high value exploration targets looking for
additional Zona 7 style deposits over the next few months.
The results of the optimization studies being undertaken as part
of the definitive feasibility study to be published in the next
couple of months are expected to demonstrate the Salamanca
project's robust economics even at the current low uranium
prices."
The financing has been completed following several months of
extensive due diligence by RCF and its advisors across all
technical, economic, social, environmental and permitting aspects
of the project and the investment at a premium is testament to the
quality of the Salamanca project.
RCF is one of the Company's largest shareholders holding around
7.2% of the issued capital. Since inception, RCF has supported 148
mining companies, with projects located in 47 countries and across
29 commodities. Further information about RCF can be found on its
website (www.resourcecapitalfunds.com).
For further information please contact:
Paul Atherley Hugo Schumann Paul Shackleton / Nick
Prowting (Nomad)
Managing Director Corporate Jay Ashfield (Broker)
Manager
+44 207 478 +44 207 478
3900 3900 WH Ireland Limited
info@berkeleyenergia.com +44 207 220 1666
About RCF
RCF has a strong team of investment professionals, with wide
ranging industry and technical expertise and a demonstrated history
of investments in mining globally. RCF's track record is based on
its ability to pick technically and commercially compelling assets
and support management to achieve desired outcomes whilst remaining
throughout a source of patient capital. RCF aims to partner with
companies to build strong, successful and sustainable businesses
and in doing so strives to earn superior returns for all
shareholders.
Forward Looking Statement
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's mineral properties.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 10, 2016 02:00 ET (06:00 GMT)
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