Getting ready to pop on next update. Best U play around...

Getting ready to pop on next update. Best U play around IMO...when the U price turns these guys will be significant.

Berkeley has completed a PFS which demonstrated that using only the current Mineral Resource Estimates for Retortillo and Alameda, which total 34.5 million pounds U3O8, the Project can support an average annual production of 3.3 million pounds of U3O8 during the seven years of steady state operation and 2.7 million pounds of U3O8 over a minimum eleven year mine life. The PFS is based on open pit mining and heap leaching at Retortillo and Alameda, a centralised process plant at Retortillo, and a remote ion exchange operation at Alameda, with loaded resin trucked to the centralised plant for final extraction and purification.
The PFS is considered a base case scenario, with additional existing resources (totalling 27.1 million pounds of U3O8) and exploration potential in proximity to the planned operations having the potential to increase the mine life and/or forecast production levels.
More details of the PFS Results are given in the ASX Release of 26 September 2013 titled Positive Pre-Feasibility Study Confirms Potential of Salamanca Uranium Project.
The positive results of the PFS clearly demonstrate the potential of the Salamanca Project to support a significant scale, long life, low cost uranium operation.
In addition, a number of opportunities to further enhance the Project economics through capital and operating cost reductions were identified in the PFS. The Company has undertaken a comprehensive review of the PFS with a view to assessing these opportunities and defining key work programs to be incorporated into the final scope of the Definitive Feasibility Study ('DFS').
Following completion of this review, the Scope of Work for the DFS has been finalised and the Company will commence work programs for key inputs to the DFS, including metallurgical testwork and hydrogeological studies in the June 2014 Quarter.
The permitting process is ongoing for both Retortillo and Alameda. The Company has recently achieved a number of major milestones with the Declaration of Environmental Impact (‘Environmental Licence') and the Exploitation Concession (‘Mining Licence') for Retortillo (the first resource from which production is scheduled to commence) being granted by the Regional Government of Castilla and León in October 2013 and April 2014 respectively.
Berkeley will continue to focus on pursuing the ongoing exploration, appraisal and development of this outstanding Project in order to fulfil its vision of becoming a uranium producer in the near to medium term.