Berkeley Energia Limited Successful Execution of Royalty Financing (0648D)
04 Luglio 2016 - 8:00AM
UK Regulatory
TIDMBKY
RNS Number : 0648D
Berkeley Energia Limited
04 July 2016
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 4 July 2016 | AIM/ASX: BKY
Successful Execution of Royalty Financing
Berkeley Energia Limited is pleased to announce that formal
documentation in relation to the previously announced US$5 million
royalty financing with RCF V Annex Fund L.P. (RCF VA) has been
successfully completed and executed.
The royalty financing comprised the sale of a 0.375% fully
secured net smelter royalty over the project for US$5 million
alongside an additional US$5 million equity placement to RCF VA
which was completed at a 15% premium to the 30-day VWAP at the
time.
The royalty is consistent with the Company's focus on minimising
dilution in order to protect the equity value of its shareholders.
Funds from the royalty will be made available to Berkeley following
satisfaction of conditions precedent related to the lodgement of
security documentation with Spanish authorities which will occur in
the coming weeks.
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 has allowed us to recommence drilling at a number
of the previously identified high potential exploration targets,
including extensions to the Zona 7 deposit to the south and at
depth.
The results of the optimization studies being undertaken as part
of the definitive feasibility study to be published in the next
coming days are likely to demonstrate the Salamanca project's
robust economics even at the current low uranium prices."
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
Resource Capital Funds (RCF) is a group of commonly managed
private equity funds, established in 1998 with a mining sector
specific investment mandate spanning all hard mineral commodities
and geographic regions. Since inception, RCF has supported 150
mining companies, with projects located in 47 countries and across
29 commodities. The sixth fund, Resource Capital Fund VI L.P. (RCF
VI) with committed capital of $2.04 billion, is now being invested.
Further information about RCF can be found on its website
(www.resourcecapitalfunds.com).
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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