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Berkeley Energia - spectacular fund raise news - we upgrade big time

Tom Winnifrith
Saturday 14 May 2016

In that rarest of moves for an AIM-listed company, Berkeley Energia (BKY) has announced new financing from a major shareholder which includes new equity at a premium to the currently prevailing share price. Following several months of due diligence, mining-focused private equity firm Resource Capital Funds is to provide $5 million through a 0.375% net smelter royalty and a further $5 million for new shares at 32p each. The latter compares to a closing high share price since 2013 of 31.75p earlier this month and a pre placing close of 30.25p – these up from 26p at the start of the year and more than 50% on our share tip.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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