Business Description:
Energy Resources of Australia Limited (ERA) is the world's fourth largest uranium producer via its Ranger mine in NT. Operating since 1980, Ranger produces 12Mlb a year. Mining was to cease in 2009 with stockpile processing until at least 2020. Successful exploration extensions of Ranger 3 and Ranger Deeps suggest a minimum two extra years mining.

Strategy Analysis:
ERA would like to capitalise on new opportunities for expansion and extension of production, continue to secure attractive long-term contracts and further invest in key exploration targets with strengthening community engagement and increasing aboriginal employment. Energy Resources of Australia reported a net loss of $121.75m for the half-year ended 30 June 2011. The company's operating and financial results for the period were significantly impacted by the suspension of processing operations at Ranger Mine announced on 28 January 2011. The suspension was taken in response to the significantly above average 2010/11 wet season encountered in the NT. Revenues from ordinary activities were $244.90m, up 12% from the same period last year. Basic and Diluted EPS was (63.8) cents compared to 11.9 cents last year. The net operating cash inflow was $27.33m compared to an outflow of $21.92m in the pcp. No dividend was declared.