Berkeley Energia (BKY) Q4 2026 TU earnings summary

Executive summary

• Advanced exploration at the Conchas project in Spain, focusing on lithium, rubidium, and other critical minerals, with a maiden Mineral Resource Estimate (MRE) of 11.8Mt at 0.41% Li₂O and 0.21% Rb₂O, all classified as Inferred.

• Preliminary metallurgical tests at Conchas show strong recoveries for Li and Rb, supporting open-pit mining potential.

• Appointment of former Endesa CEO José Bogas Gálvez as Non-Executive Director, enhancing influence in Spain's energy sector.

• Ongoing international arbitration against Spain regarding the Salamanca Project, with a $1.25 billion claim filed and proceedings bifurcated.

Financial highlights

• Cash reserves of A$62 million at quarter end, with no debt.

• Quarterly payments included A$372,000 for exploration, A$343,000 for staff, and A$183,000 for administration.

• Net cash outflow from operating activities was A$1.27 million for the quarter.

• Over 10 quarters of funding available at current expenditure rates.

Outlook and guidance

• Continued systematic advancement of Conchas with further drilling and metallurgical testing planned.

• Expansion into Portugal with a new exploration application covering 219 km².

• Ongoing commitment to sustainable mining and achievement of 2026 sustainability goals.