28th Sep 2018 12:52
LONDON (Alliance News) - Berkeley Energia Ltd on Friday said it is in an "extremely" strong financial position, as its annual loss narrowed significantly and revenue rose.
For the 12 months to June, Berkeley Energia's pretax loss was AUD4.7 million, compared to AUD16.1 million the prior year. It booked a GBP15.9 million positive fair value movement on non-cash settled financial liabilities from none a year ago.
Revenue was AUD1.0 million, compared to AUD464,000 a year prior.
The uranium miner has cash of AUD101 million, an "extremely good" position, and the focus is currently, and will be going ahead, on developing its Salamanca project in southern Spain.
Shares in the company were 2.7% lower on Friday at a price of 35.50 pence each.
Related Shares:
Berkeley Eng