11/01/2019 - 12:58

Uranium miners' shares soar on good news

11/01/2019 - 12:58

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Shares in uranium stocks Berkeley Energia and Eclipse Metals have risen sharply amidst positive news relating to the companies’ respective flagship projects.

Uranium miners' shares soar on good news
Berkeley's shares rose 75 per cent.

Shares in uranium stocks Berkeley Energia and Eclipse Metals have risen sharply today amidst positive news relating to the companies’ respective flagship projects.

Berkeley Energia shares opened at 42 cents each, a rise of 75 per cent, after several media outlets in Spain reported that the country’s nuclear watchdog would soon grant approval for its Salamanca uranium project.

In an announcement to the ASX, the company said it had not received official approval, but at 3pm AEDT its share price still remained 60 per cent above yesterday’s closing price.

The company was queries by the ASX on Monday after its share price had jumped from 16 cents to 24.5 cents.

It said at the time it was not aware of new information to explain the jump.

The explorer’s share price plunged 30 per cent in October after reports in the Spanish media that the government would not permit Salamanca to proceed.

Berkeley Energia estimates that Salamanca could produce 4.4 million pounds of uranium, which the company said would make it one the world’s top 10 uranium producers.

The company is headquartered in London, with offices in Salamanca and Perth.

Shares in Eclipse Metals opened 33 per cent higher to trade at 0.4 cents each after the company announced progressive results on the gravimetric survey of its uranium project tenements, located 300 kilometres north-west from Alice Springs.

The West Perth-based company also has an exploration focus on gold, manganese, iron ore, base metals in the Northern Territory and Queensland.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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