Paladin Energy Ltd
Paladin Energy Ltd
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Uranium miner Paladin Energy has completed the book-build for an $A88M raising just a few hours after announcing an expected FY2013 bottom-line hitting $US180M in non-cash impairment charges relating primarily to its Malawi mine and Niger exploration portfolio.
The African-focussed miner has also terminated negotiations for the sale of a minority interest in its Langer Heinrich mine in Namibia.
Australian uranium miner Paladin has completed the book-build for a $88M raising after flagging a $180M FY 2013 impairment charge. Mark Mentiplay reports.
Uranium miner Paladin Energy’s FY 2013 bottom-line will take a hammering from an expected $US180M in non-cash impairment charges relating primarily to its Malawi mine and Niger exploration portfolio.
The impairment charge came at the end of an announcement that the company is to raise about $75M via an institutional private share placement for up to 15% of its issued share capital.
Australian uranium miner Paladin has flagged a $180M charge, a $75M raising and ended talks over selling a minority interest in 1 of its 2 African mines. Mark Mentiplay reports.
Over 53% of Energia Minerals shareholders have rejected fellow Western Australian uranium explorer Cauldron Energy’s off-market takeover, making the 90% minimum acceptance level an extremely tough ask in the bid’s current form.
Energia’s latest call to arms came with new substantial shareholder Charles Arve and his associates confirming they will not accept the 1 Cauldron share for every 8 Energia bid, a deal an Energia independent expert has labelled neither fair nor reasonable.
The Cauldron dream of consolidating a big new uranium province in Western Australia looks doomed in its current form as Energia shores up its defences. Mark Mentiplay reports.
The records have tumbled for Australian uranium miner Paladin Energy, topped by record FY 2013 production and sales, prompting 2014 production estimates of 8.3Mlbs-8.7Mlb U3O8.
This is up on 2013’s 8.255Mlb, which was 20% higher than the previous year and well within guidance of between 8Mlb-8.5Mlb.
Full year sales were also a record 8.25Mlb, up 23% on 2012, generating revenue of $US408.4M, up 14% from an average price of $49.48lb, compared to the average UX 2013 spot price of $43.86lb.