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Berkeley Resources gets green light for uranium production study in Spain

Published: 06:36 27 Apr 2009 AEST

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Berkeley Resources (ASX:BKY) has advised the Spanish Council of Ministers on Friday approved the Co-operation Agreement with ENUSA Industrias Avanzadas SA (ENUSA), as set out in the announcement dated 9 December 2008.

Berkeley will now proceed to:

-Pay the initial deposit of €5m for the ENUSA assets;
- Acquire ENUSA’s historical database for the Salamanca State Reserves and the Quercus uranium processing plant;
- Commence a feasibility study on the Salamanca Uranium Project, scheduled to take 18 months to complete;
- Undertake the placements and rights issue set out in the announcement of 23 March
2009; and
- Appoint Mr Stephen Dattels to the Board upon completion of the placement to Polo
Resources Ltd.

Berkeley will undertake the feasibility study, which includes an existing uranium processing plant and the substantial combined resource base of the two companies. Berkeley will partner with ENUSA to investigate the regeneration of uranium production in Spain.

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