Berkeley Energía continues with its increases and is already revalued by 180% in 2019

The Australian mining company Berkeley Energía is listed on the stock exchange today with outstanding rises, which make it lead the advances in the continuous market with a 12% increase to 0.325 euros per share with Nyesa Valores. In the sessions held in 2019, 186% is revalued after being close to 85% in 2018.

On the stock exchange , Berkeley Energía shares are up 12%, up to 0.325 euros, after the company already recorded extraordinary increases in the session on Thursday (+ 63.84%), once the Nuclear Safety Council (CSN) gave the go-ahead to two reports in the process so that the Australian company gets the authorization to build the only open-cast uranium mine in Europe, in the Salamanca town of Retortillo. The company that Paul Atherley runs is also listed on the London Stock Exchange and in Sydney with a capitalization of 77.3 million euros.

The company noted in a relevant event notified to the National Securities Market Commission (CNMV) last Friday that it has not received any official notice in this regard and will inform the shareholders if it receives any formal notification. After this brief statement the group’s shares closed the session on Friday with a fall of 3%, compared to the upturn in the stock market today.

The past month of October Berkeley also carried out a similar fact after Reuters indicated that the Government of Pedro Sánchez denied the permits for the construction of the mine in the province of Salamanca.

The price of its shares plummeted almost 30% as a result of this news, which led the stock market regulator to suspend the trading of the shares for a few hours.

The company then explained that it had not received any official notification regarding the construction permit and that both the Nuclear Safety Council of Spain and the Ministry of Ecological Transition had declined to comment.

The Retortillo mine entered the development phase in August 2016, and initial construction began in July 2017. The company manages studies that indicate that the project could produce 4.4 million pounds of uranium per year on average over a lifetime Initial useful 10 years. The company has stated that it expects an investment of 250 million euros and the hiring of 2,500 people if the project goes ahead.

The net asset value is estimated at 531.9 million dollars (464 million euros) with an internal rate of return of 60% based on a discount rate of 8%, according to the Australian media.

According to the technical indicators of Investment Strategies, the shares of the mining company are in the consolidation phase with a score of six out of ten. Volatility is decreasing, medium-term volume is increasing, the total slow moment is positive and the long-term trend is bullish.

With the rise that Berkeley is noted in the stock market today, the gains made in the parquet of the company rise to 186% so far in 2019 , after leaving almost 85% last year.

In Australia they also ask for explanations for their increases
The Australian stock market regulator has also requested an explanation to the company’s executives for the rises of the company’s titles in the oceanic country market in the heat of the advances in Spain.

Berkeley noted that he had no knowledge of any reason why the stock trade had increased, while also mentioning that a former major shareholder had recently been selling his shares.

By Pablo Gallén , Writing Investment Strategies

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