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Anglo Pacific's Salamanca royalty valued at US$13M as Berkeley secures US$10M financing

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Anglo Pacific's Salamanca royalty valued at US$13M as Berkeley secures US$10M financing

Anglo Pacific GroupPlc said May 11 that BerkeleyEnergia Ltd. has entered into a US$10 million financing package withits significant shareholder, Resource Capital Funds.

The financing comprises the issue of US$5 million of Berkeleyordinary shares and US$5 million for a 0.375% net smelter return royalty over theSalamanca uraniumproject in Spain.

Anglo Pacific acquired a 1% net smelter return royalty in December2009, applicable to production from Berkeley's Spanish and Portuguese assets, forA$4.1 million.

Anglo Pacific holds 30.3 million Berkeley ordinary shares, ora 16.62% stake.

According to Anglo Pacific CEO Julian Treger, the financing hasvalued its 1% royalty in the project at about US$13 million.