Less Ads, More Data, More Tools Register for FREE

Berkeley Energy Upgrades Mineral Resource Estimate For Salamanca

Wed, 07th Oct 2015 08:18

LONDON (Alliance News) - Berkeley Energy Ltd on Wednesday said it has upgraded the mineral resource estimate for the Zona 7 deposit at the Salamanca uranium project in western Spain.

Berkeley said the infill drill programme for the project has been completed, with an increase in resource pounds and with nearly 90% of the resource upgraded into the indicated category.

The inclusion of Zona 7 in the resource estimate should "fundamentally improve" the economics of the Salamanca project, Berkeley said, even at current uranium prices, by increasing the mine life, production rates and reducing operating costs.

The total resource estimate for Zona 7 is now at 31.4 million pounds of uranium, which has increased the overall Salamanca project estimate to 89.5 million pounds.

"With high grades, good recoveries and the potential for some of the lowest costs in the industry the Salamanca project is rapidly emerging as one of the best new projects around," said Berkeley Managing Director Paul Atherley.

Shares in Berkeley Energy were up 7.3% to 22.00 pence.

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

Copyright 2015 Alliance News Limited. All Rights Reserved.

Related Shares

More News
28 May 2024 14:40

Berkeley Energia seeks USD1.00 billion compensation from Spain

(Alliance News) - Berkeley Energia Ltd on Tuesday launched arbitration proceedings against Spain through its Spanish subsidiary after being denied app...

26 Apr 2024 20:59

EARNINGS AND TRADING: Aura confident in Tiris; Cindrigo enters Germany

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported...

10 Apr 2024 09:39

Berkeley Energia kicks off case against Spain over Salamanca licences

(Alliance News) - Berkeley Energia Ltd on Wednesday said it had commenced international arbitration against the Government of Spain concerning a licen...

13 Mar 2024 14:33

Berkeley Energia interim loss widens due to foreign exchange movements

(Alliance News) - Berkeley Energia Ltd on Wednesday reported a widened loss due to foreign exchange movements, while interest income surged.

30 Jan 2024 12:27

TRADING UPDATES: Synthomer predicts revenue decline amid challenges

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.