Energy Resources of Australia makes a loss due to Ranger uranium mine
ERA reports H1 loss because of rain. SMH, August 4, 2011 Shares in Energy Resources of Australia slumped almost six per cent as the uranium miner posted a first half loss after suspending operations at its Ranger Mine on above average rainfall.
The company posted a net loss of $121.75 million for the six months to June 30 compared with a profit of $22.68 million a year earlier, Darwin-based ERA said in a statement on Thursday…..
Volatility in the spot price of uranium oxide was likely to continue until the nuclear situation in Japan became clearer and the outcomes of the safety reviews of nuclear power facilities in China were released….
The company plans to conduct an expanded exploration program on the Ranger Project area between 2012 and 2014 at an estimated cost of $40 million.
Earnings per share were negative 63.8 cents, compared with positive 11.9 cents a year earlier.
ERA directors decided not to declare an interim dividend for the 2011 financial year, after an interim dividend of eight cents per share the year before. No final dividend was paid for 2010…http://news.smh.com.au/breaking-news-business/era-reports-h1-loss-because-of-rain-20110804-1icgg.html
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