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Berkeley Energia pressing on with permit talks as uranium price rallies

Berkeley Energia has received an external boost from a 30% rise the price of uranium this year

Berkeley Energia Ltd -
Uranium

Berkeley Energia PLC (LON:BKY ASX:BKY) said it is still talking to all relevant authorities to get its permit to construct a uranium mine at Salamanca in Spain extended.

After a favourable report on extension from the country’s Nuclear Safety Council (NSC) in March, Berkeley said it submitted written responses to the queries arising in September, which will be assessed by NSC’s technical team and then submitted to its board for ratification.

The Ministry for Ecological Transition and the Demographic Challenge (MITECO) will then set a duration period for any extension.

Berkeley Energia has received an external boost from a 30% rise the price of uranium this year due to coronavirus disruption to a number of key suppliers, while forward forecasts suggest the price might go higher still, said the company.

For the year to June, Berkeley Energia posted a loss of US$42.9mln due largely to a write-down its convertible note and unlisted options with the Oman Investment Authority.

Cash at the year-end was US$91.7mln.

Quick facts: Berkeley Energia Ltd

Price: 22.1101 GBX

LSE:BKY
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Market Cap: £57.18 m
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