Chart, page-2

At the moment ERA don't have a mine to extract product from as they have finished mining ranger, put the deeps into long term care and do not have the permission of the local people to mine Jabiluka.

They do however have over $1 billion in uranium already stockpiled above ground. And now that mining and exploration has ceased they have very little costs to process the stockpiled uranium.

At the moment ERA are receiving in excess of $30 a pound for Uranium on their long term contracts.

They also have $400 Million cash in the bank and another $100 million which has been put aside for the ranger rehabilitation.

Although an increase in the U price will cause their share price to go up their are two other catalysts which will create a spike in the share price.

1. If a new lease is entered into and the Local people allow ERA to mine either Jabiluka or the Deeps post 2020.

2. Now that ERA have no mining and exploration costs, and the money for the Ranger rehabilitation is in the bank, as cash rolls in in the future it will have to be paid out in dividends. ERA sales revenue in 2016 was $267Million. Even if after costs only $100million is net profit, that still equates to 20c a share. Also at some stage the money currently in the bank will have to be paid out as well. And that is around about 80c a share.

The half yearly report should come out in August. It will be interesting to see if they start giving out any of this money yet or not.

I have been picking up ERA shares since they dropped below 55c