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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Energy Resources of Australia Ltd    ERA   AU000000ERA9

ENERGY RESOURCES OF AUSTRALIA LTD

(ERA)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 11/23
0.165 AUD   +3.13%
10/23ENERGY RESOURCES OF AUSTRALIA : Appendix 3Y - P Arnold
PU
10/19URANIUM WEEK : Restart For Tsunami-Hit Reactor
AQ
10/07ENERGY RESOURCES OF AUSTRALIA : Quarterly Activities Report
PU
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Uranium Week: Restart For Tsunami-Hit Reactor

10/19/2020 | 08:00pm EST

As the tsunami-hit Onagawa nuclear reactor gets the OK for a restart, the weekly uranium price continues its downward trend.

-Japanese nuclear reactor to restart
-IEA's World Energy Outlook 2020
-The weekly spot price falls marginally 

A nuclear reactor in north-eastern Japan damaged by the 2011 earthquake-tsunami disaster is all but certain to resume operations, according to the JapanToday website. The governor of the prefecture hosting the facility has decided to give consent, local officials said Wednesday.

For the No. 2 unit of the Onagawa nuclear plant in Miyagi Prefecture to restart, winning consent from local government leaders is the last remaining step needed. This is after the plant cleared a national safety screening in February.

Miyagi Governor Yoshihiro Murai will formally announce his consent by the end of the year, according to the officials, who spoke on condition of anonymity, reports JapanToday.

By doing so, he would be the first governor of a disaster-hit prefecture to give the green light to the restart of a nuclear reactor.

Other News 

When announcing its World Energy Outlook 2020, the International Energy Agency (IEA) recognised the role of nuclear power in a clean energy transition.

A surge in well-designed energy policies is considered needed to place the world on track for a resilient energy system that can meet climate goals, amid the disruption and uncertainty caused by covid-19. 

Industry consultant TradeTech explains the IEA's flagship annual report focuses on the next decade and considers different pathways out of the crisis caused by covid-19.

Reacting to the report, World Nuclear Association Director General Agneta Rising commented, "We welcome the IEA's recognition of the potential for nuclear energy to play an important role in the transition to a clean energy system and we strongly endorse the IEA's call for investment in clean energy, including nuclear energy, to rise from the current one-third of total energy investment to around two-thirds by 2030."

Company News

Energy Resources of Australia's ((ERA)) Ranger uranium operation continued to process existing stockpiles during the third quarter. Rio Tinto ((RIO)) has recorded third quarter production of 735,000lbs which was up marginally compared to the previous quarter.

Rio Tinto"s ((RIO)) share of production was 26% higher than the third quarter of 2019, primarily due to a change in shareholding following completion of Energy Resources of Australia's entitlement offer in February 2020

Rio's production is derived solely from its now 86.3% share in the company, which operates the Ranger Uranium Mine in the Northern Territory of Australia.

Uranium Pricing

TradeTech's Weekly Uranium Spot Price Indicator fell -US$0.10 to US$29.70/lb last week.

On the surface, the spot uranium market was quiet for most of the week, reports TradeTech. However, a number of parties were busy picking up material "off-market" over the course of the week. Utilities participated as buyers, along with traders and producers, in deals closed this week.

A total of 11 transactions involving 1.2 mlbs U3O8 were concluded this week in the spot uranium market.

The Weekly Spot Price Indicator has declined steadily over the last five months, falling over -13% since early May. The indicator currently sits 19% above its value from a year ago and has increased almost 20% since the beginning of the year. The weekly spot price has averaged a 0.5% weekly increase in 2020. 

The average Weekly U3O8 Spot Price Indicator for 2020 is US$29.69/lb, US$3.85/lb above the 2019 average.

TradeTech's term price indicators are unchanged at US$34.00/lb (mid) and US$37.00/lb (long).

FNArena is proud about its track record and past achievements: Ten Years On

All material published by FN Arena is the copyright of the publisher, unless otherwise stated. Reproduction in whole or in part is not permitted without written permission of the publisher.

© 2020 Acquisdata Pty Ltd., source FN Arena

All news about ENERGY RESOURCES OF AUSTRALIA LTD
10/23ENERGY RESOURCES OF AUSTRALIA : Appendix 3Y - P Arnold
PU
10/19URANIUM WEEK : Restart For Tsunami-Hit Reactor
AQ
10/07ENERGY RESOURCES OF AUSTRALIA : Quarterly Activities Report
PU
10/05ENERGY RESOURCES OF AUSTRALIA : ERA releases 2020 Ranger Mine Closure Plan updat..
AQ
09/30ENERGY RESOURCES OF AUSTRALIA : Appendix 3Y - J Carey
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09/08ENERGY RESOURCES OF AUSTRALIA : Appointment and Resignation of Company Secretary
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09/03ENERGY RESOURCES OF AUSTRALIA : ERA Media Statement, Jabiru amendment to Aborigi..
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08/20ENERGY RESOURCES OF AUSTRALIA : Appendix 3Y - P Arnold
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08/07ENERGY RESOURCES OF AUSTRALIA : Appendix 3Y - M Hanrahan
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07/31ENERGY RESOURCES OF AUSTRALIA : Response to Appendix 3Y Query
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More news
Financials
Sales 2020 214 M 156 M 156 M
Net income 2020 -15,9 M -11,6 M -11,6 M
Net cash 2020 678 M 494 M 494 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 609 M 443 M 444 M
EV / Sales 2020 -0,32x
EV / Sales 2021 -
Nbr of Employees 355
Free-Float 13,4%
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Number of Analysts 1
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Last Close Price 0,17 
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Managers
NameTitle
Paul Arnold Chief Executive Officer, MD & Director
Peter John Mansell Chairman
Lesley Bryce General Manager-Operations
David Blanch Chief Financial Officer
Shane Charles Independent Non-Executive Director