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BRIEF-Energy Resources of Australia posts net loss after tax of $271 million for FY

Published 31/01/2017, 03:32 pm
© Reuters. BRIEF-Energy Resources of Australia posts net loss after tax of $271 million for FY
ERA
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Jan 31 (Reuters) - Energy Resources Of Australia Ltd ERA.AX

* "Expects that uranium market will remain challenging in near term"

* ERA expects uranium production for 2017 to be within range of 2,000 tonnes to 2,400 tonnes

* ERA expects sales of uranium oxide in 2017 to be broadly in line with production

* "Whilst supply is expected to exceed demand in near term, china led demand-growth should support a rebalancing of market over time"

* ERA directors have decided not to declare a final dividend for 2016 financial year

* For FY ERA recorded a net loss after tax of $271 million compared to a net loss after tax of $275 million in 2015

* FY revenue from sale of uranium oxide was $268 million versus $333 million

* Sales volume for 2016 was 2,139 tonnes compared with 2,183 tonnes for 2015 Source text for Eikon: ID:nASXQ1S1w Further company coverage: ERA.AX

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