Seeking Alpha

Paladin Energy Ltd. ADR (PALAY)

- OTCPK - Current
  • 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 | 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
PALAY vs. ETF Alternatives
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