31st Oct 2013 14:10
LONDON (Alliance News) - Berkeley Resources Ltd Thursday said it will award its definitive feasibility study for the Salamanca project by the end of 2013 and expects it to be complete by the end of 2014.
The uranium exploration and development company with operations in Spain said the pre-feasibility study for its Salamanca project in Spain completed during the last quarter indicated a steady state annual production of 3.3 million pounds of triuranium octoxide over a seven year period.
Triuranium octoxide is one of the more popular forms of yellowcake, the uranium concentrate powder used in the preparation of uranium fuel for nuclear reactors.
Berkeley said that at September 30 it has cash reserves of AUD25.2 million.
The company also announced on October 8 that it had been granted its environmental license for its Retortillo site in Spain bringing it closer towards its mining license at the site.
Berkeley Resources shares were down 1.9% to 15.20 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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