https://www.miningweekly.com

Era sees net profits increase in H1

25th July 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Uranium miner Energy Resources of Australia (Era) has reported a 163% increase in net profits for the interim period ending June, compared with the previous corresponding period, while revenues increased by 6%.

The ASX-listed company on Thursday reported that net profits for the six months to June had reached A$49.2-million, up from a loss of A$78.3-million in the previous corresponding period, while revenue was up to A$19.4-million.

Cash flow from operating activities was also up by 519% in the half-year, to A$35.8-million.

Uranium oxide production for the half-year ended June reached 937 t, compared with the 842 t produced in the same period of 2018, with production in 2018 negatively impacted by mill maintenance.

Sales volumes for the interim period reached 1 123 t, compared with the 1 186 t sold in the previous corresponding period, with Era saying on Thursday that sales volumes for 2019 would be weighted towards the first half of the year, as the company had substantially fulfilled its contracted sales for the year.

During the second half of 2019, Era was expecting to produce sufficient drummed inventory to meet its supply commitments under its existing long-term contract portfolio. As a result, a greater proportion of future sales will be exposed to the spot market.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.043 0.874s - 110pq - 2rq
Subscribe Now