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Energy Resources of Australia Ltd. Class A ( (AU:ERA) ) has provided an update.
ERA has successfully completed an Entitlement Offer, raising approximately $766 million to fund the rehabilitation of the Ranger Project Area until Q3 2027. The company is actively working to extend its existing Ranger authority beyond January 2026 to complete all rehabilitation activities. Significant progress has been made in the site’s rehabilitation, including the awarding of the Pit 3 capping contract, while the commissioning of the new Brine Squeezer has been delayed without impacting overall expenditure guidance. Additionally, Rio Tinto, holding over 98% of ERA’s shares, plans to proceed with the compulsory acquisition of the remaining shares.
More about Energy Resources of Australia Ltd. Class A
Energy Resources of Australia Ltd. (ERA) operates within the mining industry, focusing primarily on uranium extraction and rehabilitation projects. As a member of the Rio Tinto Group, ERA is engaged in the rehabilitation of the Ranger Project Area, a former uranium mining site in Australia.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $637.1M
See more insights into ERA stock on TipRanks’ Stock Analysis page.
