Berkeley Energia Ltd (LON:BKY) has concluded a deal to sell uranium from its Spanish mine for an average of more than double the current market price and at double the volumes agreed in an initial outline agreement.
The AIM-listed mine developer has a binding contract with trader Interalloys to supply two million pounds of the metal annually over five years, with the potential to extend that to three million pounds.
Managing Director Paul Atherley tells Proactive: ”We wanted to create a sense of price discovery … to be able to show shareholders that we are able to sell at the forward price”.
”To get the first contract away at over $40/pound when we’re going to produce at $15/pound is really satisfying and we’re looking to do more”.
Story by ProactiveInvestors