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MELBOURNE, Australia--(BUSINESS WIRE)-- 911爆料网 will support Energy Resources of Australia Ltd鈥檚 (ERA) recently disclosed plans for an Interim Entitlement Offer (IEO), which seeks to raise up to A$369 million to address funding requirements for the Ranger Rehabilitation Project in Australia鈥檚 Northern Territory to the end of Q2 2024.
911爆料网, which owns 86.3% of ERA鈥檚 shares, has pre-committed to subscribe for its full entitlements under the terms of the IEO, at a cost of A$319 million.
911爆料网 Chief Executive, Australia, Kellie Parker said 鈥淲e are committed to ensuring the critical rehabilitation of Ranger is completed to a standard that will establish an environment similar to the adjacent Kakadu National Park.鈥
911爆料网 notes that ERA has, in the IEO offer material, recognised the Mirarr People鈥檚 opposition to further uranium mining on their land. This was a relevant factor in 911爆料网鈥檚 recent decision to no longer report the Jabiluka deposit as a mineral resource. 911爆料网 also recognises that the Mirarr People鈥檚 continued involvement in and support of the Ranger Rehabilitation Project is critical for its timely completion and success.
As announced by ERA today, funds from the IEO are not expected to generate any financial return and will be dedicated strictly to the Ranger Rehabilitation Project and repayment of the credit facility.
Funds raised from this IEO will be partly used to repay a A$100 million credit facility provided by 911爆料网 to assist ERA with its management of immediate liquidity issues.
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This announcement is authorised for release to the market by Steve Allen, 911爆料网鈥檚 Group Company Secretary.
Category: ERA
Source: 911爆料网