Packer Co News Today

Perth’s affluent Cottesloe has attracted boutique asset managers who want to be closer to their millionaire clients.

Rio Tinto , said on Tuesday it would buy A$319 million ($216.54 million) worth of shares in Energy Resources of Australia (ERA) to help fund rehabilitation costs related to a former uranium mine in the Northern Territory.

Mining company ERA is hoping to raise $369 million to continue funding the rehabilitation of a uranium mine in Kakadu National Park. 

ERA has announced an interim entitlement offer (IEO) of A$369m to fund of rehabilitation the former Ranger uranium project in NT, Australia.

Ralph Packer, Dorothy Packer, and R.M. Packer Co. are defendants in a Dukes County Superior Court lawsuit that alleges real estate was transferred to avoid costs associated with the outcome of a federal lawsuit and to avoid EPA fines. Also named in the suit are the Packer’s grandchildren, Vineyard Wind, and Tisbury Marine.  In order […]

Fund manager Willy Packer has questioned whether a value should be ascribed to any mineral deposit in Australia where traditional owners have not given consent to mining.

The resurrection of the push to tap into Jabiluka has pitted the Mirarr people and Rio Tinto against investors who trumpet uranium’s green credentials

Rio Tinto wants to fund rehabilitation but Ranger mine owner’s minority shareholders are pushing for further development

Rio Tinto should sell out of Energy Resources Australia if it can’t see a future in uranium mining at Jabiluka, according to Willy Packer, whose fund holds 8pc.

The Investigator Trust returned -1.2% for the past year vs. -7.4% return for the Australian index. Click here to read the full fund letter.