This from the newsies:Mothballed Ranger uranium mine owner...

This from the newsies:

1		Mothballed Ranger uranium mine owner Energy Resources Australia is raising 9m to fund rehabilitation works at the NT site, pay back a loan from majority shareholder Rio Tinto and shore up its balance sheet until the second quarter of next year. The group, which is still working out how much funding will be needed in future, also revealed the offer does not have full support of its three major shareholders. Rio Tinto, Packer & Co and Zentree Investments have pre-committed to subscribe for 5m in total. But Singapore-based Zentree does not consider the 5-for-1 non-underwritten entitlement offer at 2c each to be in the best interests of ERA and has reserved its rights to participate despite the pre-commitment. Rio's participation will ensure its 0m loan is paid while increasing its stake in ERA from 86.3 per cent to approximately 89.1 per cent, but it has ruled out a takeover in its intentions statement issued on Tuesday. With the total expenditure, time and proposed process to complete rehabilitation of the Ranger Project Area currently uncertain, "Rio Tinto's present intention is for ERA to continue its business under the supervision of the ERA board…" In the absence of the offer, ERA’s cash at bank is "expected to be exhausted" in the third quarter of this year, it said.