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Berkeley Energia jumps as it refutes media reports surrounding Salamanca approvals

It isn’t the first time the company has had to battle media speculation around potential approval for the Salamanca project, having refuted two other instances last October

Uranium element
Salamanca is being developed in a historic uranium mining area in Western Spain

Berkeley Energia Limited (LON:BKY) shares jumped in early trading Friday after it said it has received no official notice regarding official approvals for its Salamanca uranium project after reports emerged in the Spanish media.

In a brief statement, the miner said it would update shareholders when any formal notice regarding approvals for the project, which is located around three hours west of Madrid.

READ: Berkeley Energia seeks to clarify permit situation at Salamanca

It isn’t the first time the company has had to battle media speculation around potential approval for the Salamanca project after a Reuters report in October suggested the mine would not receive approval from the Spanish government despite already being given preliminary approval.

READ: Berkeley Energia says Spain’s Nuclear Safety Council not the source of negative media reports

The firm was then forced to refute media speculation once again that month when more press reports emerged that the government was intending to deny permits for the mine, with Spain’s Nuclear Safety Council saying it was not the source.

In a note to clients, analysts at broker Shore Capital said that the Spanish press had "apparently" reported that approval for the project had been granted, adding that a Reuters report yesterday had said "Spain’s nuclear watchdog CSN had “endorsed” two nuclear safety studies, in “a preliminary step in the approval process”".

Shares were up 17.3% at 24.7p

--Adds broker comment and share price--

Quick facts: Berkeley Energia Ltd

Price: 16.25 GBX

LSE:BKY
Market: LSE
Market Cap: £42 m
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Watch

Caution over Berkeley Energia report casting doubt over Spanish government...

Numis Securities analyst Justin Chan chats to Proactive London's Andrew Scott following a Reuters report suggesting Spain’s government will not issue the required permits for construction of Berkeley Energia Ltd 's (LON:BKY) Salamanca mine to go-ahead, even though the project was granted...

on 17/10/18

2 min read