JOHANNESBURG (miningweekly.com) – Uranium developer Berkeley Energia (currently Aim-listed) on Wednesday announced its intention to apply for admission of its ordinary shares to the main board of the LSE and to the Spanish Stock Exchanges (SSEs) of Madrid, Barcelona, Bilbao and Valencia.
The directors consider that a listing on the LSE and the SSE is appropriate to provide the company with options for future growth regarding the Salamanca uranium project in Spain.
“Such listings will provide increased liquidity for its investor base and provide access to significant new pools of capital including large Spanish institutional shareholders, mutual funds and pension funds, as well as retail shareholders in Europe, many of which could not be accessed previously,” the company stated.
Further, the listings are expected to deliver a higher profile for Berkeley in European markets, including the potential for local Spanish ownership of the company’s shares, which is considered an important strategic consideration.
“Our decision to list on the main board of the LSE and SSE represents a major strategic move forward for Berkeley. It will allow us to build support among European institutional investors while we advance activities on site,” said Berkeley MD Paul Atherley.
He added that the Salamanca mine was being developed to the world’s highest environmental standards, while creating more than 450 direct jobs and rejuvenating a local community that was badly hit by long-term unemployment.
Berkeley has completed the financing for the Salamanca mine development and is in the process undertaking detailed final reviews to ensure the company has the most optimal capital and operating costs.
Berkeley’s existing listing on the ASX will remain unchanged. The company’s shares will be transferable between the ASX, LSE and SSE from around June 7.