Energy Resources increases cash

Company News


Energy Resources of Australia Limited (ASX:ERA) says it has managed to increase its cash and end the full year with no debt despite making a net loss. 
 
The loss of $275 million was impacted by a $197 million non-cash write down of ERA’s deferred tax assets.
 
However the company put in a solid operational performance producing 2,005 tonnes of uranium oxide a 75 per cent production increase on last year.
 
ERA says it increased cash on hand by $72 million during the year ending the year with $365 million in the bank.