Berkeley Energia (BKY) Q2 2025 TU earnings summary

Executive summary

• Completed a 33-hole RC and diamond drilling program at the Conchas Project, intersecting shallow, thick zones of lithium and rubidium mineralisation, confirming the project's critical minerals potential.

• Arbitration proceedings against Spain for the Salamanca Project advanced, with a tribunal established and US$1 billion in preliminary compensation sought.

• Maintained commitment to Salamanca Project development and constructive dialogue with Spanish authorities despite ongoing permitting disputes.

Financial highlights

• Ended the quarter with A$79 million in cash reserves and no debt, reflecting a strong financial position.

• Net cash outflow from operating activities was A$1.0 million for the quarter, with A$1.0 million spent on exploration and development.

• No mining or production activities or related expenses incurred during the quarter.

Outlook and guidance

• Results from preliminary metallurgical test work on Conchas Project samples are expected in the current quarter.

• 3D modelling of drilling data and further assessment of lithium and rubidium mineralisation planned.

• Exploration programs designed for Oliva and La Majada Projects, with pending tenement grants and updated documentation to be submitted.