Berkeley Energia (BKY) H2 2025 earnings summary

Executive summary

• Focused on advancing the Salamanca Uranium Project in Spain, aiming to supply over 4 million pounds of uranium annually, equivalent to 10% of European consumption.

• Ongoing exploration for critical minerals (lithium, rubidium, tin, tantalum, niobium, tungsten) in Spain, with significant drilling results at the Conchas Project.

• Initiated international arbitration against Spain, seeking $1 billion in compensation for alleged Energy Charter Treaty violations affecting Salamanca Project permitting.

• Maintains strong financial position with $73.6 million in cash and no debt as of 30 June 2025.

Financial highlights

• Net loss after tax for FY2025 was $5.43 million, compared to $3.26 million in FY2024.

• Interest income decreased to $3.02 million (FY2024: $3.55 million) due to lower interest rates.

• Exploration and evaluation expenses rose to $4.15 million (FY2024: $3.83 million).

• Arbitration expenses increased to $2.16 million (FY2024: $0.93 million).

• Cash reserves at year-end were $73.6 million, down from $77.3 million in FY2024.

• Net assets decreased to $81.4 million from $84.9 million year-over-year.

Outlook and guidance

• Strategic focus remains on resolving permitting for Salamanca and advancing it to production.

• Continued legal defense and arbitration against Spain, with Statement of Claim due in early 2026.

• Ongoing exploration at Conchas and diversification into battery and critical metals.

• Actively assessing new business and development opportunities in the resources sector.