Paladin Energy Ltd.

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  • Jun. 22, 2015, 12:59 PM
    • Canada's government says it has approved an application for Australia’s Paladin Energy (OTCPK:PALAF +4%) to construct its proposed Michelin uranium mine in the provinces of Newfoundland and Labrador, making a rare exception to its policy that requires uranium mines to be majority owned by Canadian companies.
    • Analysts say the approval may open the door to other foreign investors seeking majority ownership of Canadian uranium mines, and could encourage investment by two Chinese utilities that have said in recent months they are looking at Canada for acquisitions.
    • Canadian companies that own non-producing uranium assets in the country include Cameco (CCJ +0.9%), Fission Uranium (OTCQX:FCUUF +2.1%) and Denison Mines (DNN -1.1%).
    | Jun. 22, 2015, 12:59 PM | 5 Comments
  • Oct. 2, 2013, 5:28 PM
    • Uranium miner Paladin Energy (PALAF.PK) announces aggressive cost-saving measures at its two mines and head office, with management and board members taking pay cuts and refusing bonuses or salary increases until the uranium market improves.
    • The cost reductions are needed - in the June quarter, Paladin reported cash costs of $29.40/lb. at its Langer Heinrich mine and $39.20/lb. at its Kayelekera mine vs. uranium spot prices of ~$35/lb. - but RBC Capital says concerns remain over funding.
    • An asset sale or debt restructure would be positive, the firm says, but an asset sale in particular is likely to be challenging given market conditions.
    | Oct. 2, 2013, 5:28 PM
  • Aug. 5, 2013, 9:02 AM
    • Australian uranium miner Paladin Energy (PALAF.PK) fell as much as 29% in Toronto on Friday after it canceled plans to sell a minority interest in an African mine, and instead raised funds through a private placement of shares.
    • Paladin said it ended negotiations involving its Langer Heinrich miner in Namibia after it became clear it wouldn't get the price it wanted due to low uranium prices.
    • A private placement of ~125M shares, ~15% of shares outstanding, is expected to raise A$88M ($77.9M).
    | Aug. 5, 2013, 9:02 AM
  • Mar. 18, 2013, 12:02 PM

    Large uranium miners team up with the Australian government and two Canadian provinces to press Canada to change Cold War era policy restricting foreign ownership to just 49% of uranium mines. "It's such an absurd situation," says Paladin Energy MD John Borshoff ... "an anachronism." URA -36% Y/Y.

    | Mar. 18, 2013, 12:02 PM | 1 Comment
  • Dec. 12, 2012, 5:41 PM

    The uranium business is still stuck in a rut more than 21 months after Fukushima, and there's little sign of a turnaround in 2013 as Japan's plans remain up in the air. Optimists point to long-term demand - 62 reactors under construction worldwide - and weak pricing and cost pressures that have ground many projects to a halt. Spot prices may have found a floor near $40/lb., but ~$60 is seen as breakeven.

    | Dec. 12, 2012, 5:41 PM | 2 Comments
  • Nov. 7, 2012, 3:31 PM

    Continuing to be stung by the low price of uranium, Paladin Energy (PALAF.PK -3.2%) freezes development, hoping to save $60M-$80M in fiscal years 2013 and 2014. "Today the price is not justifying any development (though) everybody realizes that, even with development, there's a supply crisis moving forward," says CEO John Borshoff. Uranium producer ETF: URA -18.2% YTD.

    | Nov. 7, 2012, 3:31 PM | 1 Comment
  • May 23, 2012, 9:19 AM

    Uranium giant Cameco's (CCJ) planned effort to raise as much as $1B through a combination of securities may signal an upcoming acquisition, BMO Capital suggests, citing falling uranium equity valuations in recent weeks and CCJ's ample funding capability. Potential targets: Paladin Energy (PALAF.PK), Denison Mines (DNN), UEX Corp. (UEXCF.PK)

    | May 23, 2012, 9:19 AM | 2 Comments
  • Mar. 13, 2009, 2:40 PM

    There's a uranium supply crunch looming, Cameco (CCJ) CEO Jerry Grandey says, as cash-strapped producers cut back on supply, "sowing the seeds of the next spike in the uranium price." CCJ and peers Paladin PALAF.PK and Uranium One (SXRZF.PK) may be worth a look.

    | Mar. 13, 2009, 2:40 PM | 1 Comment
Company Description
Paladin Energy Ltd. is a uranium production company with projects currently in Australia and two operating mines in Africa with a strategy to become a major uranium mining house.
Sector: Utilities
Industry: Water Utilities
Country: Australia