Berkeley Energia halved as its latest update highlighted that Spain’s election over the weekend gave an inconclusive result, suggesting permitting for its Salamanca uranium deposit will remain gridlocked.
BME, the company’s local subsidiary, has already filed a contentious-administrative appeal before the Spanish National Court after the Ministry for Ecological Transition and the Demographic Challenge (MITECO) turned down BME’s appeal against an earlier rejection.
The company said its cash at the end of June was A$79mln.
Shares in Berkley Energia dropped 50% to 18p.