Energy Resources of Australia has slowed down plans for a balance sheet sugar hit.
Energy Resources of Australia has slowed down plans for a balance sheet sugar hit, pushing back a mooted equity raising as investors push the company to focus on selling assets to realise potential value instead.- after pressure from some investors concerned about tipping fresh funds into a rehabilitation effort that was yet to be quantified.
It is understood Rio Tinto is well advanced in a process to sell Roughrider in Saskatchewan, Canada, in a process handled internally by its business development team in London. Roughrider’s expected to be worth a few hundred million dollars, which is loose change for a miner that reported $US21 billion net income last year.
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