mlkrborn
16年前
Uranium Exec Voices Bullish Outlook
indieresearch
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the tickerspy.com Staff, On Tuesday July 27, 2010, 1:40 pm EDT
Last week we noted some expert forecasts for a continued uranium supply glut that some believe will extend through 2012, but Uranium Energy (AMEX: UEC - News) CEO Amir Adnani believes quite the contrary. In a letter to shareholders, Adnani said, "Throughout the industry, demand far exceeds supply on both a global and local-U.S. basis for now and the foreseeable future." Yesterday, Adnani explains, "spot uranium prices moved up to $46/lb, a jump of $4.25" or 10.2%. While short-term volatility in the relatively illiquid uranium spot market hardly fortify the case for long-term appreciation, Wall Street has turned bullish on miners over the last week.
As a whole, the Uranium Stocks Index has gained 13% in the last five sessions with Denison Mines (AMEX: DNN - News), Uranium Energy, and Uranerz Energy (AMEX: URZ - News) running by 20% or more.
Currently, Cameco (NYSE: CCJ - News), which signed a supply contract with China Nuclear Energy Industry Corporation back in June, and USEC (NYSE: USU - News) are member-favorites as indicated by aggregate holdings among tickerspy's more than 60,000 user-generated portfolios. Both stocks are among laggards over the last week, outperforming only Uranium Resources (NASDAQ: URRE - News) -- the Index's only loser for the period.
It will be interesting to see whether the uranium sector can keep its second-half momentum alive. As of this writing, the Uranium Stocks Index is on top of tickerspy's one-week Index performance rankings, and investors can track it for performance trends and a suite of other metrics at tickerspy.com.
mlkrborn
16年前
Uranium Shares On Sale After Week Of Mixed News
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PALAF.PK 3.56 +0.07
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the tickerspy.com Staff, On Friday June 25, 2010, 10:34 am EDT
After the Massey Energy Company (NYSE: MEE - News) coal mining disaster earlier this year and the BP (NYSE: BP - News) Deepwater Horizon rig explosion in the Gulf of Mexico, the importance of domestic alternative energy sources has taken center stage. The uranium sector is painted in red this week after a mixed basket of stock-specific news failed to spur any individual rallies. Despite looming supply issues weighing on spot prices, the recent alternative energy push could draw some attention to these stocks in the second-half of 2010. Given the sector's volatility, it may not be suitable for all investors, but it is certainly worth watching.
As a whole, the Uranium Stocks Index has matched the S&P 500 in performance over the last month, but only Uranium Energy (AMEX: UEC - News) and Paladin Resources (Pink Sheets: PALAF - News) are in positive territory for the period.
Earlier this week, Uranium Energy announced ongoing success at its Palangana project in South Texas, but the report couldn't help shares emerge from their recent slump. The stock is down by -3.5% over the past five sessions.
Elsewhere in the sector, penny stock Uranium Resources (NASDAQ: URRE - News) got crushed this week when the company priced its 23.8 million-share common stock offering at 42 cents per share. The company had announced last Friday that it would offer up to 25 million shares, and according to the Associated Press, underwriters have a 30-day option to buy another 3.3 million shares. Just last week Uranium Resources shares soared higher by as much as 50% after a favorable court ruling, but shares have since plummeted to well under pricing prior to the announcement.
Cameco (NYSE: CCJ - News) announced a supply agreement with China Nuclear Energy Industry Corporation to supply 23 million pounds of uranium concentrate through 2020 after Thursday's close. The stock got an early pop this morning, but has since pared gains to trade higher only fractionally. Cameco has lost -6% over the past five sessions.
USEC (NYSE: USU - News) broke into positive weekly territory briefly this morning, but the stock has since fallen back into the red. Back in May USEC shot higher after announcing a deal with Toshiba and Babcock & Wilcox Investment Company, but shares are well off their highs from earlier this month.
Investors can track the Uranium Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
mlkrborn
16年前
A$27.0(1) Million Recommended Takeover Offer by Paladin Energy Ltd for NGM Resources Limited
Date : 07/21/2010 @ 8:37AM
Source : MarketWire Canada
Stock : Paladin Energy Ltd (PDN)
Quote : 3.59 0.0 (0.00%) @ 12:23AM
A$27.0(1) Million Recommended Takeover Offer by Paladin Energy Ltd for NGM Resources Limited
Paladin Energy Ltd (TSX:PDN)(ASX:PDN)(NSX:PDN) ("Paladin") and NGM Resources
Limited (ASX:NGM) ("NGM") are pleased to announce that Paladin intends to make
an off-market scrip takeover offer ("Offer") for the shares it does not already
own in ASX listed minerals exploration company NGM. Paladin currently holds
approximately 22.5% of NGM's ordinary shares on issue, having recently acquired
4.3 million NGM shares at $0.09 per share.
The consideration under the Offer will comprise one fully paid ordinary Paladin
share for every 23.9 fully paid ordinary NGM shares that Paladin does not
already own, implying a price of A$0.15 per NGM share based on the closing price
of Paladin shares on the ASX on 20 July 2010 (being the last trading day prior
to announcement of the Offer) of A$3.58.
The Offer values NGM at approximately A$27.0(1) million and provides an
attractive premium of 54% to the 5 day volume-weighted average price of NGM
shares on the ASX on 16 July 2010 (being the last trading day in NGM shares
prior to the announcement of the Offer). The Offer is subject to a number of
conditions, which are set out in full in Appendix 1 to this announcement.
NGM's directors have unanimously recommended that NGM shareholders accept the
Offer, in the absence of a superior offer. They have also indicated that they
intend to accept the Offer in respect of their own shareholdings, in the absence
of a superior offer.
NGM Director Robert Kirtlan said shareholders would retain exposure to any
future success of the NGM projects, as well as benefit from Paladin's broader
portfolio of uranium projects in Australia and Africa.
"Paladin is well positioned with a strong balance sheet and management expertise
to fully exploit the world-class location of NGM's uranium assets," Mr Kirtlan
said.
NGM is a minerals exploration company with a significant land position in
Niger's uranium rich Tim Mersoi Basin, a region which has a long history of
uranium production and hosts some of the world's largest and highest grade
uranium deposits. NGM holds three uranium exploration concessions, covering an
area of approximately 1,500km2.
NGM's most advanced project is the Takardeit Project for which NGM announced, on
28 January 2010, a maiden inferred resource of 23 million tonnes at a grade of
210ppm, with an estimate of 11 million pounds of uranium oxide (U3O8) at 120ppm
cut off. The announcement of the maiden resource followed a drilling programme
undertaken in the last quarter of 2009, which identified supergene
mineralisation over an area of 2.7km by 2.1km. The mineralisation is shallow to
a depth of 30m and remains open to the south and south west.
The proposed acquisition will represent a significant addition to Paladin's
portfolio of early stage uranium exploration projects and importantly will give
Paladin a presence in a country with a long history of uranium production. The
potential acquisition of a large, under-explored land holding within the highly
prospective Tim Mersoi Basin will provide Paladin with the opportunity to
potentially unlock significant value by applying its proven uranium exploration
and development capabilities. Importantly the dilution to Paladin shareholders
is less than 1% and given the relative size of the companies, Paladin believes
that NGM can be easily integrated allowing Paladin to continue to focus on its
other strategic growth initiatives.
If the Offer is successfully completed, NGM shareholders will:
-- retain the exploration upside associated with NGM's projects;
-- benefit from becoming shareholders in a uranium producing company, and
inherit a management team and board with the requisite skills and
demonstrated ability to bring a uranium project into production; and
-- obtain increased liquidity of their investment through owning Paladin
shares.
Paladin and NGM have entered into a bid implementation agreement, a copy of
which is included in Appendix 2 to this announcement.
NGM has agreed to pay Paladin a break fee of A$400,000 in certain circumstances,
including if NGM enters into a competing proposal or if the NGM directors
withdraw or adversely modify their recommendation of the Offer. NGM has also
agreed to customary exclusivity arrangements in regards to solicitation of
alternative transactions. The Bid Implementation Agreement can be found in its
entirety on the Company's website at
http://investors.paladinenergy.com.au/phoenix.zhtml?c=176316&p=irol-news&nyo=0
mlkrborn
16年前
Would CAMECO target PDN-Paladin Energy?
Paladin Energy Ltd (C-PDN) - In the News
NP says rumour has Cameco eyeing Paladin
2009-12-10 09:41 ET - In the News
Shares issued 715,584,427
PDN Close 2009-12-09 C$ 3.80
From In the News (C-CCO) Cameco Corp
The National Post reports in its Thursday, Dec. 10, edition that Cameco's sale of its 48.5-per-cent interest in Centerra Gold has the Street speculating about what the uranium giant's next move will be. The Post's Jonathan Ratner writes that analysts suggest an acquisition is the most likely course of action. The Centerra sale means Cameco will likely look to buy a uranium producer as it seeks to strengthen its production profile, according to Rob Chang at Octagon Capital. At $2.8-billion in market market capitalization, Paladin Energy has long been a rumoured candidate. The analyst told clients that the Australian-based uranium company, whose shares trade on the Toronto Stock Exchange, is one of the better-run producers, offers arguably the best production growth profile and has no major strategic shareholders. Cameco wants to double its annual uranium output from existing operations by 2018. Cameco chief executive Jerry Grandey, who has highlighted Paladin as an attractive takeover candidate, in November suggested that Cameco will consider acquisitions and joint ventures with customers in Asia.
wzebra33
18年前
Australia’s Uranium Mines Paladin Resources
by: Stephanie Grimmett posted on: August 24, 2008 | about stocks: PALAF.PK
Let me start by saying this is a long-shot investment. It’s contingent on an election, and we all know how fickle the voting population can be.
With that out of the way, I’d like you to take a look at Western Australia (the state, not the geographical area, although they’re both basically the same.). State elections are coming up, and the polls are giving hope to the Liberal Party. I don’t pretend to understand Australian politics, but it looks like the Liberal Party in Australia is more like the Republican Party (small government, low taxes) here in the States. Go figure.
The current party in office (the Labor Party) saw the words "radioactive metal" and flinched itself into a ban on all uranium mining, to the detriment of the state economy. Nearly 40% of the world’s known uranium reserves are in Australia, but very little of that is accessible to miners because of the "eeek! radioactive!" bans in various places across the country.
Even after 60 years of human experience with the mining of radioactive metals, the Labor Party refuses to consider lifting its ban. But the Liberal Party is open to discussions on the subject. And if the party can keep gaining in popularity, we could see a lift on the uranium mining ban in Western Australia in coming months (on the chance that the Labor Party doesn’t have to form one of those coalition governments with other parties to take office… I don’t get it, either.).
While digging around for a profit opportunity on this event, I found Paladin Resources (PALAF.PK). The company holds partial ownership in three uranium mines in other Australian states [one with Cameco (CCJ), the world's largest publicly traded uranium miner], 100% of two African uranium mines (in Malawi and Namibia) and 100% of two uranium mines in Western Australia that the government won’t let it work.
If I’m doing my math right, Paladin’s Mayingee and Oobagooma Western Australian mines represent about 27% of the company’s reserves. Together the mines have about 46 million pounds of uranium, according to Paladin’s last look at them. That’s a nice boost in production, without a lot of the time and expense that usually goes into opening a new mine.
So now would be the time to discover an interest in Australian state politics. If the Liberal Party gets into office, watch for a change in the uranium policy and consider a buy on Paladin Resources to catch the new Western Australia uranium boom.
http://seekingalpha.com/article/92340-paladin-resources-a-bet-on-western-australias-uranium-mines?source=yahoo
wzebra33
18年前
Paladin Energy Ltd: March 31, 2008 Third Quarter Report
Thursday May 15, 8:38 am ET
PERTH, WESTERN AUSTRALIA--(Marketwire - May 15, 2008) - Paladin Energy Limited ("Paladin" or the "Company") (TSX:PDN - News; ASX:PDN - News) announces the release of its March 31, 2008 Third Quarter Report.
Projects:
- Production of 490,800 pounds of U3O8 at the Langer Heinrich Uranium Project in Namibia for the March '08 quarter - plus an additional 60,000 pounds of U3O8 loaded in a temporary uranium thickener. Calendar 2008 production guidance maintained
- Work commenced on US$50 million Langer Heinrich Stage II production expansion to 3.7 million pounds per annum - scheduled for mechanical completion at end of calendar 2008. Planning underway on Stage III expansion to 6.0 million pounds per annum
- Sales of Langer Heinrich uranium concentrate for the quarter of 208,000 pounds U3O8 averaging US$66/lb - in line with revised plan to overcome shipping delays. Sales for the nine months of 809,000 pounds U3O8 averaging US$71/lb
- Construction work on schedule and budget at the Kayelekera Uranium Project in Malawi - activities included civil works, cement and foundation preparation, equipment and facility installation, upgrade of public road, and recruitment of operations staff
- Paladin and Cameco JV awarded the Angela Uranium Deposit in Northern Territory
- Focus on exploration and evaluation of Australian projects, in particular the Mount Isa Uranium Joint Venture and Isa North Uranium Project in Queensland, and the Bigryli Uranium Joint Venture in Northern Territory
Corporate:
- Loss after tax for the quarter ending March 31, 2008 of US$8.4 million - consisting of US$7.7 million profit for Langer Heinrich as a consequence of improved performance; US$2.5 million investment in exploration and evaluation expenditure; US$7.0 million finance costs; and US$6.6 million in net corporate costs
- Strong balance sheet at March 31, 2008 with net assets of US$1.4 billion including US$417 million in cash (US$375 million invested in US treasury bonds)
- Issue of US$325 million in Convertible Bonds on March 11, 2008 with a coupon rate of 5%, maturity March 11, 2013 and conversion price of US$6.59 for Company share
- Loss after tax for the nine months ending March 31, 2008 of US$34.2 million - consisting of US$5.8 million profit for Langer Heinrich as a consequence of extended operational ramp up activities in 2007; US$9.1 million investment in exploration and evaluation expenditure; US$20.4 million finance costs; and US$10.5 million in net corporate costs, including foreign exchange losses and share based payments
- Net cash outflow from operating activities for the quarter ending March 31, 2008 of US$22.6 million attributable to the timing of sales invoice receipts
- Credit committee approved offers received for finance totalling US$167 million for the Kayelekera Uranium Project, subject to legal documentation and fulfillment of other conditions precedent usual for this type of funding
These results may be found shortly with the Company's other documents filed on Sedar (http://www.sedar.com) or through the Company's website (http://www.paladinenergy.com.au). The documents filed comprise the Third Quarter Report, including the Management Discussion and Analysis, Report to Shareholders, Financial Report and CEO/CFO certifications.
A.C.N. 061 681 098
Contact:
John Borshoff
Paladin Energy Limited
Managing Director
+61-8-9381-4366 or Mobile: +61-419-912-571
Ron Chamberlain
Paladin Energy Limited
Chief Financial Officer
+61-8-9381-4366 or Mobile: +61-410-421-776
Greg Taylor
Paladin Energy Limited
Investor Relations Contact
(905) 337-7673 or Mobile: (416) 605-5120 (Toronto)
Email: greg.taylor@paladinenergy.com.au
Website: www.paladinenergy.com.au
Source: Paladin Energy Ltd
wzebra33
18年前
PDN.TO
Paladin eyes new mine projects, sets up market arm
http://www.reuters.com/article/marketsNews/idCAL1276528620080312?rpc=44
LONDON, March 12 (Reuters) - Australian uranium miner Paladin Energy (PDN.AX: Quote, Profile, Research) said on Wednesday it was looking at start-up mining projects in Asia and North America and favoured investments in production by 2010 at the latest.
"We are looking right now in Asia as well as North America ... we will see some activity on that front this year," Dustin Garrow, executive general manager of marketing for Paladin, told an investor event.
"The fuel cycle is more than uranium. We will actually be looking further up the fuel cycle."
He said Paladin would also set up its own marketing arm, Paladin Nuclear, in the second quarter, and had allocated around $75 million for its establishment.
He said the firm had no knowledge of any take-over interest:
"I know there is speculation now growing that Paladin is a take-over target in particular from Cameco (CCO.TO: Quote, Profile, Research) ... that is nothing that we are aware of."
The firm now operates the Langer Heinrich uranium project in Namibia, which produces 2.6 million pounds of U3O8 UX-U3O8-SPT per year. The mine is undergoing expansion with a production target of 3.7 million pounds in 2010
Paladin has recently invested in back-up power supply in southern Africa to ease electricity shortages there.
"We don't see the power issue as a major risk at Langer Heinrich ... we have ordered a 10 megawatt diesel generating package that will be delivered in the middle of January."
In Malawi, Paladin has started construction at Kayelekera and production should begin from December 2008. The mine is expected to produce 3.3 million pounds U3O8 per year by 2010.
"We are keeping a fairly large percentage of our production uncommitted at this point and that is a reflection on how we see the uranium market developing over the next several years."
NEW MARKETING ARM
Garrow told a Bank of Montreal (BMO) Capital Markets investor event the unit would enable them to seize upon changes in the global uranium industry to offer customers variable contractual and sales proposals beyond the traditional long-term or spot sales transactions.
"Maybe we will not go as far as buying an enrichment plant, but we are taking a much broader perspective," he said.
The decision follows down-stream/up-stream integration in the market with mining firms buying into nuclear reactor constructors and vice versa.
"We want to be engaged in the fundamental changes that are going on,"he said, pointing to large financial institutions like Lehman Brothers (LEH.N: Quote, Profile, Research) holding physical uranium.
The firm will open one marketing office in Europe this year and another in Asia next year.
(Reporting by Anna Stablum; editing by Chris Johnson)
wzebra33
19年前
Summit Resources Accepts Paladin's Higher Takeover Offer
Tuesday April 17, 7:47 am ET
Thomas Kelly submits: The board of directors for Summit has decided to accept Paladin Resources' higher takeover offer, bringing Paladin’s hostile takeover attempt to a successful close.
In the light of the current price of uranium, the offer appears to be very fair for Summit, considering the uncertain legal environment surrounding Summit’s properties in Queensland. I don’t think it is a particularly great deal for Paladin, but I don’t think they overpaid either. At the very least, getting the deal done takes away some risk that Paladin would fail in their first big expansion acquisition, and it does significantly add Paladin’s reserves.
Given the price of the deal, I don’t think this acquisition will do much to add to the near term price of Paladin’s stock, but it does take away the uncertainty that led me to swap out of Paladin in favor of sxr Uranium One . With the acquisition out of the way, I would expect Paladin’s shares to once again take their cues from the spot uranium price.
wzebra33
19年前
from http://www.news.com.au/heraldsun/story/0,21985,21500405-664,00.html
Price pressure on uranium
Mandi Zonneveldt
April 04, 2007 12:00am
TWO Australian uranium players have moved closer to mining as the price of yellowcake pushes towards $US100 a pound.
Paladin Resources, which is ramping up production at its new mine in Namibia, yesterday received environmental approval for a second mine in Africa, while Marathon Resources is moving towards development of an underground mine at its Mt Gee project in South Australia.
Marathon said interim results from its scoping study had found a 1000 tonne a year operation at Mt Gee was viable.
Chief Dr John Santich said an underground mine appeared to be the best option in the environmentally-sensitive Flinders Ranges.
The company is continuing to drill in a bid to improve the economics of its project and expects to release an updated resource in the next few months.
"Indications are that we already have a viable mine but we believe we have only scratched the surface," Dr Santich said.
Paladin is hoping to begin producing from its Kayelekera project in Malawi by mid-2008 at a rate of about 1000 tonnes a year.
The company is now waiting for the final nod from Malawi's mining minister.
The moves come as the uranium price surges towards $US100 a pound.
The Nuclear Market Review (NMR) said buyers were seeking more than three million pounds of the nuclear fuel at the end of March, with several utilities making preliminary inquiries about potential purchases.
Energy Resources of Australia, which produces about 11 per cent of the world's uranium, warned on Monday that recent wet weather would affect its production for at least a year.
NMR said the market remained tight and all eyes would be on the sale overnight of 100,000 pounds of uranium by a US producer.
The frenzy surrounding uranium was exemplified yesterday by a 133 per cent jump in Haddington Resources shares.
The company announced it had identified new uranium targets on its Northern Territory tenements after a review of historic literature.
wzebra33
19年前
PDN.TO news
Press Release Source: Paladin Resources Ltd.
Kayelekera Uranium Project (Malawi) Environmental Approval Granted
Monday April 2, 9:15 am ET
PERTH, WESTERN AUSTRALIA--(MARKET WIRE)--Apr 2, 2007 -- Paladin Resources Ltd. ("Paladin") (Toronto:PDN.TO - News)(ASX:PDN.AX - News) is pleased to advise that the Kayelekera Uranium Project in Malawi has received its Notice for Environmental Approval to proceed with the Project.
The Kayelekera Environmental Impact Assessment (EIA) was submitted to the Malawi Government in October 2006 and this study has been subject to an extensive stakeholder review by government agencies, general public and international experts including input from the International Atomic Energy Agency in Vienna. This EIA review process by the Government has been thorough and the environmental undertakings by the Company comply fully with applicable relevant international standards. The environmental certificate which has been issued to Paladin (Africa) Ltd, a 100% subsidiary of Paladin, is subject to conditions of reporting, environmental management, training and compliance with Development Agreement undertakings, all of which the Company regards as reasonable.
The EIA approval for the Kayelekera Project clears a major pre requisite for the Minister for Energy Mines and Natural Resources to now finalise his consideration on the grant of a Mining Licence for the Project.
A.C.N. 061 681 098
Contact:
Contacts:
Paladin Resources Ltd.
John Borshof
Managing Director
+61-8-9381-4366 or +61-419-912-571 (mobile)
Paladin Resources Ltd.
Greg Taylor
Investor Relations
(416) 605-5120 (Toronto)
Email: greg.taylor@paladinresources.com.au
Website: http://www.paladinresources.com.au
wzebra33
19年前
Paladin Resources Ltd.: Increase in Investment in Deep Yellow Limited
Friday March 30, 8:22 am ET
PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 30, 2007) - Paladin Resources Ltd ("Paladin" or "the Company")(TSX:PDN - News; ASX:PDN - News) advises that the Company's shareholding in Deep Yellow Limited is now 10.64 % represented by 106,126,163 shares in that company. This follows an off market purchase of 10,000,000 shares at AUS$ 0.40 per share.
Deep Yellow Limited is a dedicated uranium exploration company listed on ASX (code: DYL) operating in Australia and Namibia. Paladin sees a significant advantage in maintaining a strategic holding in this company.
A.C.N. 061 681 098
Contact:
John Borshoff
Paladin Resources Ltd.
Managing Director
+61-8-9381-4366 or Mobile: +61-419-912-571
Greg Taylor
Paladin Resources Ltd.
Investor Relations Contact
(416) 605-5120 (Toronto)
Email: greg.taylor@paladinresources.com.au
Website: www.paladinresources.com.au
--------------------------------------------------------------------------------
Source: Paladin Resources Ltd.
wzebra33
19年前
Premier Beattie's Support Positive for Paladin's Queensland Uranium Assets
Friday March 23, 11:35 am ET
PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 23, 2007) - Paladin (TSX:PDN - News; ASX:PDN - News) is encouraged by Queensland Premier Mr Peter Beattie's strong statements of support for uranium mining in Queensland yesterday.
ADVERTISEMENT
The Australian Labor Party is widely expected to abandon its 'no new uranium mines policy' during its national conference on 27-29 April 2007. Mr Beattie has previously said he would abide by that decision.
Mr Beattie's statements yesterday that he will support uranium mining at the ALP conference are further reasons for confidence that the ALP will drop its opposition to uranium mining on a national basis. Mr Beattie's continued support will underpin the implementation of this in Queensland.
This would free Paladin's 50% owned Valhalla/Skal project from the development restrictions that currently apply. Paladin intends to continue to participate in the evaluation, exploration and, if viable, development of the Valhalla/Skal project, with a target of production commencing in or after 2012.
In addition, Paladin would benefit from a change in ALP policy in Queensland through its 11% shareholding in Deep Yellow Ltd, which owns exploration permits in northwest and north Queensland, and as a result of shares acquired under its takeover offer for Summit Resources Limited, which also owns exploration permits in Queensland.
Any change in policy in Queensland would provide a stronger expectation for a change in policy in Western Australia, where Paladin holds the Manyingee and Oobagooma projects which would then also be freed of current restrictions if a change in ALP policy is implemented nationally. Paladin also holds a significant portfolio of quality uranium exploration assets in the Northern Territory, where Government policy is already conducive to uranium mining.
Contact:
John Borshoff
Paladin Resources Ltd.
Managing Director
(+61 8) 9381 4366
(+61 8) 9381 4978 (FAX)
Email: paladin@paladinresources.com.au
wzebra33
19年前
Uranium tipped to break $US100
Uranium tipped to break $US100
19th March 2007, 9:45 WST
The spot uranium price — already having risen nearly tenfold during the past four years — is expected to break through the $US100 a pound barrier for the first time as early as this week.
In a case of perfect timing, Paladin Resources on Friday hosted 200 guests at the official opening of the world’s newest uranium mine, Langer Heinrich in Namibia.
Paladin stands to be the biggest Australian beneficiary of the increased uranium price, which has spiked as a supply shortage has coincided with a huge jump in demand.
A spot price of even $US100 a pound would not be particularly helpful to big producers like Energy Resources of Australia and BHP Billiton unless it stayed that high for years, because they locked in long-term contracts when uranium was trading at record lows.
But Paladin has positioned itself to be the world’s fourth-biggest uranium producer by 2010, despite competition from emerging rivals around the globe.
Paladin has already approved development of its next project, the $233 million Kayelekera mine in Malawi.
JAMIE FREED
wzebra33
19年前
news today,
Langer Heinrich Uranium Project, Namibia NI 43-101 Report Filed
Monday January 15, 9:21 am ET
PERTH, WESTERN AUSTRALIA--(CCNMatthews - Jan. 15, 2007) - Paladin Resources Ltd. (TSX:PDN - News; ASX:PDN - News) announced today the filing of a technical report, pursuant to the National Instrument (NI) 43-101 reporting obligations in Canada. This report details the resource update recently estimated by mineral resource specialists, Hellman and Schofield Pty Ltd. This report has been filed with SEDAR and can either be accessed at www.sedar.com under the Company's profile or on the Paladin website.
A.C.N. 061 681 098
Contact:
John Borshoff
Paladin Resources Ltd.
Managing Director
+61-8-9381-4366 or Mobile: +61-419-912-571
Greg Taylor
Paladin Resources Ltd.
Investor Relations Contact
(416) 605-5120 (Toronto)
Email: greg.taylor@paladinresources.com.au
Website: www.paladinresources.com.au
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Pro-Life
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