The Rio Tinto-owned company that recently shelved a major uranium mine expansion has reported a fall in quarterly production.
Energy Resources of Australia produced 457 tonnes of uranium oxide in the September quarter, down 19 per cent on the same quarter last year.
Production was up 17 per cent on the June quarter, when output was impacted by a mill shutdown to carry out maintenance.
All ore milled in the September quarter was taken from existing stockpiles, and no exploration expenditure was incurred during the quarter.
ERA lost half its board in June after deciding a proposed new underground mine at Ranger in the Northern Territory will not proceed to a final feasibility study due to a sluggish uranium market.
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Rio Tinto has pulled its support for any expansion, but ERA continues to seek to extend its authority to operate Ranger in order to re-visit the expansion at some stage.
The company's total evaluation expenditure for the September quarter dropped to $1 million, from $3 million in the June quarter, due to "close out activities" of its Ranger pre-feasibility study.
Shares in ERA jumped 24 per cent to 41 cents on October 8, but the company said it could not explain the move.
They have since dropped two cents, or five per cent, and at the close on Tuesday were steady at 39 cents.
