All Ordinaries Shares News Paladin Energy (PDN)
15th Jun 2011
Paladin Energy (PDN) is a uranium miner, with projects located in Africa and Australia.
PDN’s long-term goal is to establish itself as a uranium producer through identifying, acquiring and evaluating advanced uranium projects.
The group’s current focus is on its African projects: Langer Heinrich (Namibia) and Kayelekera (Malawi).
PDN shares have slumped in the few months since the Japanese nuclear crisis and the company last week released a reassuring statement aimed at stopping the share price rot.
PDN says its financing facilities are in good standing and clarified that it currently has no plans to raise fresh capita – debt or equity – outside of the financing of its stage 3 expansion of its Langer Heinrich project .
The uranium miner says the feasibility study on its stage 4 expansion is proceeding as schedule and the company is expecting a positive outcome.
PDN also said that key shareholder Newmont Mining (one of the world’s largest gold miners) has indicated it will hang onto its 6.71% stake in PDN in the near-term and that the company has mechanisms in place if Newmont decided to sell out.
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