OTCQB:UEXCF - Post by User
Post by
Litexon Jun 19, 2012 12:45pm
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Post# 20030489
ERA has still had to buy 500 tonnes of uranium on
ERA has still had to buy 500 tonnes of uranium on Ranger uranium miner ERA predicts loss of up to $60m
RANGER uranium miner Energy Resources of Australia has flagged a $50 million to $60m loss for the first half.
The forecast loss by the listed Rio Tinto subsidiary was made by the company in presentation notes filed with the ASX ahead of a two-day tour by analysts of the Northern Territory mine.
It follows ERA's loss of $153.6m last calendar year when the Ranger mine, in Kakadu National Park, was shut down for pat of the year because of problems caused by above average rainfall. The ASX filing reveals that despite Ranger experiencing significantly less rainfall than in the previous wet season, ERA has still had to buy 500 tonnes of uranium on global spot markets to meet contact commitments.
On a more positive note, ERA said it was close to signing a new mining agreement with the traditional owners, the Mirrar people, entitling them to "greater participation in the benefits from mining on their land".
https://www.theaustralian.com.au/business/profit-loss/ranger-uranium-miner-era-predicts-loss-of-up-to-60m/story-fn91vch7-1226401662415