Berkeley Energia Optimistic On Salamanca As Uranium Market Strengthens

LONDON (Alliance News) - Berkeley Energia Ltd on Wednesday said has received several positive recommendations for the Salamanca uranium project in Spain.

Berkeley has received "a number" of favourable assessments from various regulators, including the Nuclear Safety Council, for Salamanca. It is waiting for a recommendation report from the Council to the relevant Spanish government minister.

However, Berkeley did say the local municipality is still unable to grant an express resolution for awarding a licence due to some outstanding issues, which Berkeley is now looking at.

The uranium market remains strong, Berkeley continued, with prices rising 4% over the three months to December the end the period at USD28.50 per pound. Fundamentals "remain very strong", it added.

Soil samples from near Salamanca have found anomalies for other elements such as gold, lithium, cobalt, tin, and rare earths, Berkeley added. It has applied for twelve new investigation permits to look further into the finds.

Cash is currently AUD100 million, the company said, a "strong" position.

Shares were 7.1% higher on Wednesday at a price of 1.50 pence each.

Berkeley Eng