Berkeley Energia (BKY) Q1 2025 TU earnings summary

Executive summary

• Initiated international arbitration against Spain, seeking $1 billion compensation for alleged Energy Charter Treaty violations related to the Salamanca Project.

• Salamanca Project remains a priority, with ongoing efforts to resolve permitting issues and maintain compliance with environmental and safety standards.

• Exploration activities expanded to battery and critical metals, with drilling and studies ongoing at IP Conchas and other Spanish tenements.

Financial highlights

• Cash reserves at A$72.3 million as of 30 September 2024, with no debt.

• Net cash outflow from operating activities was A$1.7 million for the quarter.

• No mining or production revenue; expenditures focused on permitting, legal, and exploration costs.

• Interest income of A$848,000 recorded for the quarter.

Outlook and guidance

• Remains committed to Salamanca Project development and open to constructive dialogue with Spanish authorities.

• Strong financial position with over 10 quarters of funding available at current expenditure rates.

• Ongoing exploration in critical metals and continued focus on environmental, health, and safety certifications.