Ann: ERA Capital Raising , page-2

Uranium miners ERA seeks $500m
October 12, 2011 - 10:31AM
Uranium miner Energy Resources of Australia plans to raise $500 million selling shares at $1.53 each, according to a statement to the ASX this morning.

The 68 per cent-owned subsidiary of Rio Tinto, typically supplying 10 per cent of the world's uranium, has been struggling with widespread flooding in Queensland, forcing it to reduce production and revamp waste disposal operations.

Output of uranium oxide in the third quarter was 1010 tonnes, up 11 per cent from the same period a year ago, the company said. It maintained production guidance for the year.

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The company's shares were placed into a trading halt ahead of the capital raising announcement.

Reuters

http://www.businessday.com.au/business/uranium-miners-era-seeks-500m-20111012-1ljwh.html