Berkeley Energia Making Progress On Salamanca Project

LONDON (Alliance News) - Berkeley Energia Ltd on Wednesday said it moved into the development phase for the Salamanca uranium project in Spain in the first quarter and is continuing work on the site.

Berkeley said contracts were awarded in the quarter for re-routing electrical power lines and the realignment of an existing road, while optimisation studies are focused on boosting the economics of the project.

The company expects a definitive feasibility study for the project in June, which is anticipates will confirm the robust economics even at currently low uranium prices.

Offtake talks are progressing well, Berkeley said, with strong interest from global utilities in securing production from the project.

Berkeley shares were down 3.2% to 27.60 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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