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Berkeley Energia annual report confirms ‘excellent’ cash position

Berkeley boasted of its excellent financial position as works to bring the Salamanca mine into production.

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Berkeley Energia ended June with a cash position of US$34.8mln

Berkeley Energia Ltd (LON:BKY) has confirmed its strong financial position as it released its annual report on Friday.

The European mine developer revealed it had cash reserves of US$34.81mln and no debt at the end of June.

“This puts the group in an excellent financial position as the company moves towards the development and construction of the Salamanca mine,” it said.

Berkeley’s net asset value rose some 84% in the year, up to US$48.46mln at the end of June.

READ: Berkeley Energia on-track to be one of world’s top uranium miners

The pre-revenue mine developer reported a US$16mln loss for the year.

Quick facts: Berkeley Energia Ltd

Price: 26.5 GBX

Market: LSE
Market Cap: £68.53 m

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