LONDON (Alliance News) - Berkeley Energia Ltd on Thursday said the mineral resource estimate for the Retortillo deposit at the Salamanca project in western Spain has been upgraded, resulting in the grade being upgraded by 15%.
The company said the upgraded estimate is now being included in the optimisation studies for the project and should boost the overall economics of the project.
"The positive impact this increase in grade is expected to have on the overall economics emphasizes the project's robustness at current uranium prices," said Paul Atherley, Berkeley's managing director.
Berkeley added talks with possible financiers and offtake partners for the Salamanca project are underway and the company hopes to have funding and sales contracts in place well ahead of the planned construction start up in mid-2016.
Berkeley shares were down 2.8% to 24.0501 pence on Thursday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Berkeley Eng (BKY)