Berkeley Resources Limited ('Berkeley' or 'the Company') is a uranium exploration and development company with a quality resource base in Spain. The Company has a 100% interest in a total Mineral Resource estimated at 61.0 million pounds of contained U3O8 with an average grade of 430 ppm (at a cut-off grade of 200 ppm U3O8). Berkeley is dual listed on the Australian Securities Exchange ('ASX') and Alternative Investment Market of the London Stock Exchange ('AIM').
The Company is currently focused on advancing its wholly owned flagship Salamanca Project, which comprises the Retortillo and Alameda deposits plus a number of other Satellite deposits, through the development phase.
The results of a Scoping Study completed in late 2012 confirmed the technical and economic viability of the Salamanca Project and its potential to support a significant scale, long life uranium mining operation. Accordingly, the Company has commenced a Pre-Feasibility Study ('PFS') which is anticipated to be completed in the third quarter of 2013.
Berkeley is focused on pursuing the ongoing exploration, appraisal and development of this outstanding uranium project in order to fulfil its strategic objective of becoming the next European uranium producer.
Spain offers an environment conducive to Berkeley's activities, with no prohibitions on uranium mining, good mining infrastructure, skills and power, a reliable legal and mining title jurisdiction and a local energy market which is 18% nuclear dependent (World Nuclear Association, February 2012).