Low Financial LeverageReported zero debt from 2022–2025 gives Berkeley durable financial flexibility versus leveraged peers. Low leverage reduces interest expense and bankruptcy risk, preserves financing optionality for project milestones, and supports continued permitting and development over the next 2–6 months.
Substantial Equity And Asset BaseA tangible equity buffer (A$81–88m) and assets (A$85–90m) provide a capital cushion to absorb operating losses and fund near-term project activity. This balance-sheet depth supports ongoing Salamanca development and reduces the immediacy of refinancing needs over a multi-month horizon.
Moderating Cash BurnMaterial moderation in cash outflows by 2025 decreases near-term funding pressure and extends runway. While free cash flow remains negative, slowing burn is a durable operational improvement that lowers immediate dilution risk and aids steady progress on project development.