Paladin Energy Ltd: Outlook
Mon Apr 14, 7:39 AM
ca.news.finance.yahoo.com
PERTH, WESTERN AUSTRALIA--(Marketwire - April 14, 2008) - Paladin Energy Limited ("Paladin" or the "Company") (TSX: PDN.TO)(ASX: PDN.AX) notes that, on Friday, April 11, 2008, trading volumes in Paladin stock both on the ASX and TSX were abnormaly high and the Company beleives this development may possibly be due to speculation surrounding Lift Capital Partners Pty Ltd being put into administration.
The Directors of Paladin wish to inform and remind the investment community that the Company is in a strong position and can be regarded as the leading emerging uranium producer in the world. As announced in its March 2008 quarterly, its Langer Heinrich Uranium Project is maintaining its long stated production guidance for calendar years 2008 and 2009, has embarked on an aggressive value-added expansion program on this project, and its Kayelekera Uranium Project construction is on track and on budget for construction completion at the end of 2008. These activities are fully funded with bank finance and its existing cash funds. Including Stage III expansion at Langer Heinrich, this allows the following production capability for calendar years 2008-2012 for Langer Heinrich and Kayelekera (excluding M&A acquisition) - 2008 production - 2.6Mlb U3O8, 2009 production - 4.7Mlb U3O8, 2010 production - 7.4Mlb U3O8, 2011 production - 8.6Mlb U3O8, 2012 production - 9.3Mlb U3O8. Then by 2012-2014 Paladin fully expects either of its Mt Isa Projects or Angela Project to be on a delevelopment path potentially adding further production and importantly establishing Australia as another cornerstone in its production portfolio.
In addition, raising the US$325M in February via the convertible bond places the Company in an extraordinary position to maintain its ongoing M&A activities over the next 12 to 18 months that very strongly favours Paladin when considering its performance, proven expertise and funding position.
ACN 061 681 098
Contacts
John Borshoff
Paladin Energy Limited
Managing Director
+61-8-9381-4366 or Mobile: +61-419-912-571
(+61 8) 9381 4978 (FAX)
Email: paladin@paladinenergy.com.au
Greg Taylor
Paladin Energy Limited
Investor Relations Contact
(905) 337-7673 or Cell: (416) 605-5120 (Toronto area)
Email: greg.taylor@paladinenergy.com.au
Website: www.paladinenergy.com.au |
