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Is the great uranium price squeeze coming to an end? FINEX October 18 th 2018 Salamanca poised for lift off

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Page 1: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

Is the great uranium

price squeeze

coming to an end?

FINEX

October 18th 2018

Salamanca

poised for

lift off…

Page 2: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

GLOBAL Top Ten

Page 3: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

Low OPEX & existing infrastructure

EU funded infrastructure and low operating costs make the difference

Page 4: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

EXPLORATION programme

Annual exploration expenditure to maintain steady state production

Source:

Berkeley Energia Definitive

Feasibility Study, July 2016

Page 5: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

China DOUBLES nuclear capacity

China set to double its nuclear capacity by 2020

and then double again by 2035

Source: BP Energy Outlook, 2017

Edition

Page 6: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

US utilities URGENTLY need to start buying

US utilities have a major re-contracting requirement

by 2027 as high priced 2005-2007 contracts run off.

Meanwhile, 58 reactors are currently under construction globally, a 25

year high in nuclear growth

Source: 2016 uranium marketing annual

report by the US EIA

Page 7: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

PRODUCTION cuts

Production cuts remove 25% of world production in 2018

Page 8: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

TIPPING POINT in uranium price

The Q3 spot market saw more transactions and more volume over the last three

months than any time in history with the U3O8 price closing out September at $27.38.

That is a $0.92 increase on the month and a $4.58 increase over the quarter.

Page 9: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

LOW uranium cost

Salamanca has amongst the lowest uranium production costs of all major suppliers

Page 10: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

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REVERSING regional decline

Salamanca project

helps address largest

population decline

in Spain

APPLICANTS

FOR 200 JOBS18,000

OF VILLAVIEJA’S PERMANENT

RESIDENTS HAVE APPLIED FOR

A JOB

25%

Page 11: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

JOB creation

Retortillo &

Villavieja de Yeltes-30%

POPULATION DECLINE - CASTILLA Y LEÓN SALAMANCA PROJECT

2,000 €250M 450

Salamanca project hopes to address economic decline and depopulation

+

Page 12: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

Historic Mining Region

Mining in the region for over 2,000 years

Mines operated

in Castilla y León400+

Page 13: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

NUCLEAR contribution to energy mix

Nuclear power is an important component of electricity supply in Spain

Page 14: Salamanca poised for lift off - Berkeley Energia Limited · Salamanca poised for lift off ... BP Energy Outlook, 2017 Edition. ... Meanwhile, 58 reactors are currently under construction

STRONG local support

Residents clearly

want the mine