Berkeley Energia (BKY) H1 2026 earnings summary

Executive summary

• Focused on advancing the Salamanca Uranium Project in Spain, which holds a 89.3Mlb uranium resource, and expanding exploration for critical minerals such as lithium and rubidium at the Conchas Project.

• Arbitration proceedings against Spain are ongoing, with a $1.25 billion claim filed due to alleged breaches of the Energy Charter Treaty affecting project permitting.

• Strong cash position of $68.4 million and no debt as of 31 December 2025.

Financial highlights

• Net loss for the half year ended 31 December 2025 was $3.45 million, compared to a profit of $0.83 million in the prior year period.

• Interest income decreased to $1.2 million from $1.6 million year-over-year due to lower interest rates and cash balances.

• Exploration and evaluation expenses were $1.72 million, down from $2.11 million year-over-year.

• Arbitration-related expenses rose sharply to $2.49 million from $0.58 million year-over-year.

• Foreign exchange loss of $1.49 million, compared to a gain of $4.82 million in the prior year period.

• Cash outflows from operations totaled $3.71 million, up from $2.72 million year-over-year.

Outlook and guidance

• Strategic focus remains on securing permits for Salamanca and progressing the project to production.

• Continued defense of rights through international arbitration and ongoing exploration for critical minerals.

• Ongoing assessment of new business and investment opportunities in the resources sector.