Berkeley Energia (BKY) Q3 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 in all holes.

• Arbitration proceedings initiated against Spain, seeking US$1 billion in compensation for alleged Energy Charter Treaty violations related to the Salamanca Project.

• Salamanca Project remains a priority, with ongoing efforts to resolve permitting issues and maintain constructive dialogue with Spanish authorities.

Financial highlights

• Ended the quarter with A$78 million in cash reserves and no debt, maintaining a strong financial position.

• Net cash outflow from operating activities was A$710,000 for the quarter and A$3.4 million for the nine months.

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

• Payments for exploration and evaluation totaled A$782,000 for the quarter.

Outlook and guidance

• Results from preliminary metallurgical test work on Conchas Project samples are expected in the June 2025 quarter.

• 3D modelling of drilling data and further geological assessment underway to refine resource estimates at Conchas.

• Arbitration tribunal session scheduled for early May 2025 to establish timetable and rules.