Energy Resources of Australia Ltd. announced preliminary earnings and production results for the year ended December 31, 2016. For the year, revenue from continuing operations was AUD 294,839,000 against AUD 348,260,000 a year ago. Loss before income tax was AUD 271,077,000 against AUD 79,798,000 a year ago. Loss attributable to company was AUD 271,077,000 against AUD 275,493,000 a year ago. Net cash inflow from operating activities was AUD 34,022,000 against AUD 84,594,000 a year ago. Payments for property, plant and equipment were AUD 2,988,000 against AUD 11,906,000 a year ago. Capital expenditure for the full year was AUD 3 million compared to AUD 12 million in 2015. All expenditure in 2016 related to sustaining capital expenditure projects.

The company reported uranium oxide produced for the year ended 31 December 2016 was 2,351 tons, 17% higher than the 2015 production of 2,005 tons. Production for the period was favorably impacted by higher milling rates and improved recoveries. Milled ore grade was in line with 2015.

The company expects uranium production for 2017 to be within the range of 2,000 tons to 2,400 tons. ERA expects sales of uranium oxide in 2017 to be broadly in line with production.