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).
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