14th Mar 2016 09:28
LONDON (Alliance News) - Berkeley Energia Ltd Monday reported a narrowed pretax loss for its first half as it continued to focus on developing its Salamanca uranium project in Spain.
The company reported a pretax loss of USD5.8 million for the half year to end-December, widened from a pretax loss of USD4.0 million the year before, primarily as a result of higher exploration and evaluation, and corporate and administration costs. Revenue from continuing operations was USD155,779, down from USD314,580 the year before.
Berkeley said during the half year it continued to focus on progressing the shallow high grade Zona 7 deposit at the Salamanca project.
It conducted an upgrade to its Zona 7 mineral resource estimate, and this estimate now stands at 31.4 million pounds uranium, including an indicated resource of 1.1 million tonnes containing 27.8 million pounds of uranium.
Berkeley said that following its decision to push ahead with the overall development of the project and recent positive study announcements, it has continued to receive approaches from potential financiers and strategic partners. It is exploring a range of financing options and strategic partnerships, it said, with a number if prospects beginning due diligence reviews.
Shares in Berkeley Energia were down 0.9% at 23.05 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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