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Additional information
Additional Information
Market: ASX, AIM
Sector: General Mining
Epic: BKY
News: Latest news
Web Site: Berkeley Resources
Other Articles: 22-01-201012-01-201002-12-2009

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Wednesday March 17, 03:46Access Pharmaceuticals’ Cobalamin oral platform could offer new way to administer insulin

This morning, Access Pharma reported that two independent animal studies confirmed earlier findings that Cobalamin offers significant bioavailability of orally delivered insulin

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Berkeley Resources

Berkeley Resources

Berkeley Resources (ASX: BKY) has acquired a number of advanced uranium exploration projects in Spain totaling approximately 450,000ha, covering all the main historic uranium mining and exploration areas in the country.

Berkeley's focus is on the successful completion of a Feasibility Study at its flagship Salamanca Uranium Project, incorporating the Spanish State Reserves and the Quercus Uranium Processing Plant.

The Salamanca Uranium Project has a number of identified uranium deposits, including an inferred JORC Resource, significant exploration targets based on historical information and substantial exploration upside.

Monday, March 23, 2009

Berkeley Resources raises A$7m, sells A$5m equity to Polo Resources

Berkeley Resources (ASX:BKY) has advised that the Company has reached agreement to place up to 14 million new shares in the company at A$0.50 each, along with 7 million free attaching options exercisable at A$0.75, to a number of corporate and institutional shareholders, to provide funding for completion of the Feasibility Study for Berkeley’s Salamanca Regional Uranium Project.

The cornerstone investor in the placement, subscribing for 10 million shares and 5 million options, is Polo Resources Limited, an AIM listed energy resources investor chaired by Mr Stephen Dattels Mr Dattels, who will join the Berkeley Board on completion of the placement, was previously a founder and Director of Uramin Inc, which was sold for USA$2.5 billion to Areva in mid 2007.

A number of Berkeley’s existing institutional shareholders have agreed to subscribe up to a further 4 million shares and 2 million options in the placement (“Institutional Placement”). The placements, totalling 14 million shares, along with 7 million free attaching options exercisable at A$0.75, are conditional upon receipt of the approval of the Spanish Council of Ministers for the transaction announced on 10 December 2008.

Issue to shareholders

Subsequent to the placements, Berkeley shareholders will also be given the opportunity to participate in a non-renounceable 1:20 rights issue on the same terms, including the 1 for 2 free attaching options at A$0.75.

If all shares available under the issues are subscribed, a total of just less than A$10m (before costs) will be raised. As a minimum, A$5m will be raised from the Polo Resources placement.

Berkeley is pleased to have secured this essential funding for the Feasibility Study in a very difficult market environment. Mr Dattels and the executive team from Polo Resources not only have very considerable mining and corporate expertise but they have an outstanding track record in developing world class uranium assets.

The outlook for nuclear power and uranium mining is compelling and Berkeley believes the Salamanca Regional Uranium Project – which includes a very substantial resource base and an existing uranium process plant presently on care and maintenance – is ideally placed to deliver into the forecast uranium production shortfall.

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