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Business Description: Energy Resources of Australia Limited (ERA) is uranium producers. ERA mines uranium ore and produces drummed uranium oxide at its Ranger mine Australia and sells its product to power utilities in Asia, Europe and North America under strict international and Australian Government safeguards. ERA also holds title to the Jabiluka deposit in north of Ranger.
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 reported net loss of $218.76m for the year ended 31 December 2012. This compares to a net loss after tax for the year ended 31 December 2011 of $154m which included a $99m post tax inventory adjustment resulting from low grade stockpiled material being reclassified from Ore Reserves to Mineral Resources. Revenue from ordinary activities were $422.85m, down 37% from last year. Basic and Diluted EPS were (42.25) cents compared to (29.67) cents last year. The net operating cash outflow was $3.32m compared to $54.92m last year. No dividend was declared. The Company reported it expects that the uranium market will remain challenging in the near term, however, the long term outlook is still very encouraging for established producers.
The Age 22/05/2013 |
A piece of broker research came out last week that described the budget as a sensible one but an almost suicidal one for a government four months out from an election. Instead of trying to buy votes, it seemed intent instead on putting as many noses out of joint as it possibly could.
The Age 22/05/2013 |
In last week's budget, the government missed what will probably be its last opportunity to make the superannuation system fairer and more sustainable. While the government made some tough decisions, such as reneging on promised tax cuts, one of the fastest-growing expenses is the tax concessions for superannuation.
The Age 22/05/2013 |
Baby, forget the bonus. With tax concessions gone the federal government's budget could also affect your health, writes John Collett.
The Age 22/05/2013 |
Last week's budget was a bit of aho-hum affair on many levels related to superannuation, because most of the changes to the system had been announced back in April. The transfer of the Baby Bonus into an extra (reduced) payment for families eligible for Family Tax Benefit Part A, has drawn the light fairly and squarely on the costs of bearing and raising children. The recent debate about the opposition's Paid Parental Scheme versus the government's less-generous scheme has added fuel to the fire.
The Age 22/05/2013 |
Tradies caught out by the collapse of National Buildplan Group have called for a financial "rescue" package and an investigation into the failure of the company.
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