27th Apr 2009 08:25
27 April 2009
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
Council of ministers APPROVAL RECEIved
for enusa agreement
The Directors of Berkeley Resources Limited are pleased to advise that 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 is ideally placed to undertake the feasibility study, which includes an existing uranium processing plant and the substantial combined resource base of the two companies. Berkeley particularly looks forward to partnering with ENUSA to investigate the regeneration of uranium production in Spain.
Enquiries - Managing Director: Matt Syme Tel: +61 417 906 717
RBC Capital Markets: Martin Eales Tel: +44 20 7029 7881
Related Shares:
Berkeley Eng