The last six months of 2016 were hugely significant for prospective uranium miner Berkeley Energia (BKY). In addition to a successful $30m (£24.6m) fundraising and the completion of a defined feasibility study, the group concluded an off-take agreement at more than double the prevailing uranium spot-price. Those sales, which will be made to Interalloys, are the surest indication to date that the Salamanca mine will be not only profitable, but form a crucial source of supply.
The market was already up to speed with all of these events when Berkeley reported its interim results this week, and the shares did not move on the publication. But investors will likely be encouraged by the year-end cash balance of A$43.2m (£26.9m) which has helped Berkeley to accelerate the timetable.
