Termination of Areva Heads of Agreement
12 Gennaio 2010 - 9:06AM
UK Regulatory
TIDMBKY
RNS Number : 3914F
Berkeley Resources Limited
12 January 2010
12 January 2010
BERKELEY RESOURCES LIMITED
Termination of Areva Heads of Agreement
The Directors of Berkeley Resources Limited ("Berkeley") are pleased to advise
that the Company has agreed to terminate the Heads of Agreement which was
entered with Areva NC in March 2006.
As a consequence, any rights previously granted to Areva for off-take or
marketing of uranium production from Berkeley's projects have been terminated
with immediate effect.
Importantly, this leaves Berkeley with unfettered capacity to negotiate off-take
or marketing rights with other parties - potentially an important element of
future project financing.
Berkeley understands that it is Areva's intention to exercise its Berkeley
options and dispose of its entire holding of Berkeley shares. In the event that
the Areva options are exercised, they will contribute over A$7m to Berkeley's
cash position.
Enquiries - Managing Director: Ian Stalker Tel: +27 824 553 442
RBC Capital Markets: Martin Eales Tel: +44 20 7029 7881
This information is provided by RNS
The company news service from the London Stock Exchange
END
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