PDN, PALADIN ENERGY LTD

[nipper]

Stockbroker Euroz has launched a $30.2 million equity raising for ASX-listed uranium play Paladin Energy. The broker was seeking buyers for 262.8 million new shares in a placement on Wednesday morning, representing a 15 per cent stake in the company.

The shares were for sale at 11.5¢ each which was a 14.8 per cent discount to the last close and a 17.3 per cent discount to the 10-day VWAP, according to terms sent to fund managers.

Funds raised were for working capital, including care and maintenance costs associated with its African mines and the Langer Heinrich restart and optimisation studies, the term sheet said.

Paladin is an independent uranium company with assets in Africa, Australia and Canada. Its biggest investors include Paradice Investment Management, China Investment Corp and Chinese private equity firm HOPU.

[blacksheep]

Uranium stocks all up on the US decision on Section 232 Petition - hope we don't get another U-bubble

PDN up 10.71%

Trump’s decision pleases Australian uranium explorers
Now the initial section 232 investigation has been officially closed, US utilities have been freed up to re-engage with global uranium suppliers regarding potential contracts.

“This is fantastic news,” Mr Young said of Trump’s decision.

“It is the starting gun to the uranium revival that had been picking up steam before this section 232 investigation stopped everything in its tracks.”

Mr Young said Vimy has been negotiating with US utilities to finalise contracts that would underpin the development of the company’s Mulga Rock uranium project in Western Australia’s Great Victoria Desert – about 290km from Kalgoorlie.

Agreeing with Mr Young this morning was Mr Craib who said the decision would re-open buying activity from US utilities and, consequently, boost the uranium price.

“The outlook on improved uranium prices is positive,” Mr Craib said.

Boss wholly-owns the Honeymoon uranium project in South Australia, which Mr Craib says is positioned to participate in the early stages of the “new bull market”.

“President Trump’s announcement is timely as Boss advances its restart strategy and continues contractual discussions with US utilities, in concert with the underlying price of uranium.”

“Australia has been a long-term reliable and important supplier of uranium to the US and this decision will see this continue, underpinning project development in Australia as well as providing foreign investment.”

The US currently sources about 20% of its uranium needs from Australian producers.

https://smallcaps.com.au/australias-uranium...mport-measures/

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[nipper]

Melbourne boutique BW Equities probably won’t have to dig too far into its own pockets after agreeing to underwrite the equity raising that will help minnow Hylea Metals pick up the old Kayelekera uranium mine from Paladin Energy.

BW has agreed to underwrite the $8m, 2c per share equity raising announced by Hylea as part of the Kayelekera acquisition. But the stock has soared from 1.3c a share to as high as 8c per share on the back of the deal and was last trading at 6.5c, a tidy 400 per cent gain for the day.

If Hylea holds that level, there’ll be plenty of investor interest in those 2c shares.

Hylea is being backed by Grant Davey, who previously ran uranium play Boss Energy before cashing out of the company late last year.

[blacksheep]

Also examining the potential for vanadium recovery as a bi-product at LH

PALADIN TO OPTIMISE LANGER HEINRICH FOR RESTART DECISION
Highlights

- Paladin commences concept study to optimise Langer Heinrich in preparation for
restart decision

- Concept study followed by prefeasibility study (PFS) (collectively, the Optimisation
Studies) will examine opportunities for improvements to mining and processing at
Langer Heinrich to decrease costs, increase throughput and productivity and
examine potential for the recovery of a Vanadium bi-product

- PFS expected to be completed in 2019

- Langer Heinrich restart decision dependent upon a sustained uranium price
recovery

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[blacksheep]

In Reply To: blacksheep's post @ Apr 27 2018, 01:41 PM

Interesting that “stubbornly low” U prices were said to be largely responsible for the PDN decision to shutdown it's Namibia mine, yet Cameco reported yesterday they have swung back into the black, partly on the back of improved prices.

Canada’s Cameco (TSX:CCO) (NYSE:CCJ), the world's largest publicly traded uranium producer, swung back into the black in the first three months of the year thanks to improved prices for the commodity and the company’s efforts to lower costs.

The Saskatchewan-based miner posted Friday net earnings of $55 million, or 14 cents per share, compared with a loss of $18 million, or 5 cents per share, in the first quarter of 2017.

Revenue jumped to $439 million from $393 million a year earlier, owed in part to uranium prices climbing about 25% to $42.92 per pound, while sales volumes rose nearly l6% to 6.6 million pounds.

http://www.mining.com/worlds-top-uranium-m...eco-back-black/

[blacksheep]

In Reply To: blacksheep's post @ Feb 1 2018, 01:29 PM

Well, that didn't last long - Paladin Mark II. A few months after recapitalisation/relisting PDN has flagged the closure of its Langer Heinrich mine in Namibia in response to “stubbornly low” uranium prices. U prices have been "stubbornly low" for a great number of years - makes one wonder what the point of rebirthing PDN really was. Deutsche Bank seems to have ceased being a substantial holder - lucky for them, . Where to from here - will there be a PDN Mark III?

Uranium prices force Paladin into Namibia mine shutdown

Stuart McKinnonThe West Australian
Friday, 27 April 2018 9:19AM
https://thewest.com.au/business/mining/uran...n-ng-b88818422z

[blacksheep]

In Reply To: arty's post @ Feb 16 2018, 01:08 PM

Lucky you indeed.

Any investors who held before the VA might at least now get a small % of their investment back - if they are smart.

I wouldn't contemplate touching.

I see Deutsche Bank already engaging in stock borrowing/return - https://www.asx.com.au/asxpdf/20180215/pdf/...m38664l1mkm.pdf
Recent Top 20

MR JOHN ZECKENDORF (TRUSTEE OF TRUST 1) 278,427,256 16.26
MR MATTHEW DAVID WOODS (TRUSTEE OF TRUST 2) 255,868,723 14.94
BURLINGTON LOAN MANAGEMENT DAC 211,630,482 12.36
HSBC INSITUTIONAL TRUST SERVICES (ASIA) LIMITED 195,728,635 11.43
MR HAYDEN LEIGH WHITE (TRUSTEE OF TRUST 3) 135,452,297 7.91
CITICORP NOMINEES PTY LIMITED 126,840,070 7.41
DEUTSCHE BANK AG, LONDON BRANCH 58,704,230 3.43
CS THIRD NOMINEES PTY LIMITED 49,909,025 2.91
THE BANK OF NEW YORK 49,295,507 2.88
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED (GSCO ECA (PID: 20057) A/C) 41,115,343 2.40
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED (PID: 20057) A/C) 38,846,902 2.27
COWELL & LEE ASIA CREDIT OPPORTUNITIES FUND 37,348,527 2.18
BLUEBAY FUNDS: GLOBAL CONVERTIBLE BOND FUND 30,990,406 1.81
BLUEBAY GLOBAL CONVERTIBLE BOND FUND (CANADA) 29,027,764 1.69
GLOBAL CONVERTIBLE BOND FUND, A SERIES OF DSBI -
GLOBAL INVESTMENT TRUST 18,560,266 1.08
MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED 18,074,616 1.06
BLUEBAY STRUCTURED FUNDS: TOTAL RETURN
DIVERSIFIED CREDIT FUND 16,305,215 0.95
DEUTSCHE BANK AG, LONDON BRANCH 13,892,398 0.81
BLUEBAY STRUCTURED FUNDS: GLOBAL MULTI ASSET
CREDIT FUND 13,583,908 0.79
CHENAVARI EUROPEAN OPPORTUNISTIC CREDIT
MASTER FUND L.P 7,957,242 0.46
Total 1,627,558,812 95.02

[arty]

In Reply To: blacksheep's post @ Feb 16 2018, 12:32 PM

Back from the dead. Can't believe it's up 330.85%

The sp gain is based on the pre-suspension trades. Considering the holders lost 98% of the NUMBER of shares, even with the sp increase, they're down more than 90% by VALUE of their holdings.
Glad I had sold all of mine in 2007 and didn't return since.

[blacksheep]

In Reply To: blacksheep's post @ Feb 1 2018, 01:29 PM

Back from the dead. Can't believe it's up 330.85% - DB pumping it? Hope it doesn't go the way of PDN MarkI.

Revamped Paladin Energy soars on long-awaited return to ASX
Stuart McKinnon | The West Australian

Long-suffering shareholders of Paladin Energy who lost 98 per cent of their investment when it collapsed last year will take some heart from seeing the stock soar on its re-listing today.

Shares in the recapitalised uranium miner opened at 15¢ when it rejoined the boards of the Australian Securities Exchange this morning after an eight-month suspension, more than three times higher than the 4.7¢ at which it last changed hands.

The stock traded in a wide range between 15¢ and 26¢ this morning with investors struggling to come to grips with what might be considered fair value for the restructured company.

At 9.40am, the stock was trading at 22¢ for a market capitalisation of about $374 million.

Paladin was recapitalised under a deed of company arrangement, which gave control of the uranium miner to its bondholders and creditors under a debt-for-equity swap.

The deal wiped its $US740 million debt but cost ordinary shareholders in the former company 98 per cent of their shares

Under the restructure, Paladin struck a new $US115 million bond issue and will begin its new life with about $US70 million in cash as well as all its previous assets.

Deutsche Bank has emerged as Paladin’s biggest shareholder with a 16 per cent stake after buying debt in the former entity from French creditor EDF.

Rick Crabb will remain chairman, joined by new directors Daniel Harris, John Hodder and David Riekie. Alex Molyneux will resign within three months.

Mr Crabb said the company’s future rested with the low uranium price, noting the bondholders’ decision to take equity in the company reflected their bullishness around the future price.

Mr Molyneux said some were predicting a “pinch point” for the uranium market in 2019/2020, considering it to be “the last shoe to drop” in the commodities market.

https://thewest.com.au/business/mining/reva...x-ng-b88747084z

[blacksheep]

Paladin Energy set to emerge from administration

extract

The end result will be bondholders and Deutsche Bank, which acquired Électricité de France S.A's claim, taking a 98 per cent stake, which includes a 70 per cent share for existing bondholders, another 25 per cent for buying the company's new bonds and 3 per cent for parties underwriting the new bonds.

Deutsche Bank will be Paladin's biggest shareholder with a 40.7 per cent stake, while other substantial investors include Value Partners Hong Kong (10.7 per cent), JPMorgan (9.1 per cent), BlueBay Funds (6.9 per cent) and Leader Investment Corporation (5.6 per cent).

Paladin's existing equity holders, including HOPU Clean Energy, will retain the final 2 per cent.

Read more: http://www.afr.com/street-talk#ixzz55p7sBIhb