Energy Resources 2014 production drops

Company News

Energy Resources of Australia Limited (ASX:ERA) has reported a fall in annual production but a rise in December quarter production. 
 
The Rio Tinto Limited (ASX:RIO)-backed uranium producer’s annual output dropped 61 per cent to 1,165 tonnes but quarterly output lifted 19 per cent to 599 tonnes. 
 
Energy Resources says the pre-feasibility study for the Ranger 3 Deeps mine in the Northern Territory is being finalised and will be considered by the board in the first quarter 2015.

Subject to board and regulatory approval the company is targeting first production from the project at the end of 2015. 

Energy Resources of Australia reported a net loss of $127.2 million in the first half of the 2014 calendar year.