Berkeley Energia (BKY) H2 2026 earnings summary

Executive summary

• Focused on advancing the Salamanca Uranium Project in Spain, aiming to supply over 4 million pounds of uranium annually, equivalent to 10% of European consumption.

• Continued exploration for critical minerals (lithium, rubidium, tin, tantalum, niobium, tungsten) in Spain, with a maiden resource estimate for the Conchas Project announced post-year-end.

• Ongoing international arbitration against Spain, seeking $1.25 billion in compensation for alleged Energy Charter Treaty violations affecting the Salamanca Project.

• Strong ESG focus, achieving carbon footprint goals and maintaining ISO 14001 and UNE 22480 certifications.

Financial highlights

• Net loss after tax for FY26 was $8.7 million, compared to $5.4 million in FY25, driven by higher arbitration expenses and foreign exchange losses.

• Interest income declined to $2.1 million (FY25: $3.0 million) due to lower interest rates.

• Cash reserves at 30 June 2026 were $62.4 million, down from $73.6 million a year earlier.

• Net assets decreased to $70.7 million (FY25: $81.4 million), reflecting cash outflows and FX losses.

Outlook and guidance

• Strategic focus remains on securing permits for Salamanca and progressing arbitration.

• Continued exploration at Conchas and diversification into battery and critical metals.

• Actively assessing new business and development opportunities in the resources sector.