Ann: HagganFunding and Development Strategy , page-4

If AEE gets in bed with Cameco who own 24% of a company producing new laser enrichment technology for uranium than the train will definitely leave the station with a full head of steam. You better be on and not left on the station holding your bag.

From today's SMH

Shares in uranium miner Paladin Energy have soared by more than 16 per cent this morning, after the company flagged a major development in its battle to meet looming debt obligations.

Paladin has announced preliminary steps in a deal that would see the company supply uranium to an unnamed utility for six years between 2019 and 2024.

Crucially, the deal would include a $US200 million ($191 million) pre-payment delivered to Paladin before January 31, 2013: meaning the money would be available before March when Paladin is required to pay $US134 million in debt obligations.

Investors responded immediately, lifting Paladin shares by 17 cents to $1.43 in morning trade.

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That debt obligation has been a major cloud hanging over Paladin’s share price, which has slumped from close to $2 in March to just above $1 in July.

Paladin said the deal would not be finalised until September, and the company did not name the utility with which it had struck the deal in this morning’s announcement.

But the two companies have agreed on the amount of uranium to be supplied - 13.73 million pounds – and that prices for delivery of the uranium will be based on spot prices at the time, within an agreed floor and ceiling price.

Uranium prices are currently at multi-year lows, with the benchmark price below $US50 per pound.

As part of the deal, Paladin has had to offer 60 per cent of of its Michelin uranium project in Canada as security.

Paladin chief executive John Borshoff said the deal was a “major achievement” that underscored the long-term demand for uranium.

Paladin’s announcement comes after Melbourne-based uranium explorer Aura Energy announced yesterday that it had made progress in developing its massive Haggan deposit in Sweden.

Haggan is believed to be one of the biggest three undeveloped uranium deposits on earth: although the uranium is found at relatively low grades.

Aura has been trying to find a partner to help develop the project and revealed yesterday that it had entered a 90-day exclusivity agreement with a major global uranium company, during which the companies will try to strike a long-term partnership deal.

Aura has not named the company with which it struck the deal, but Canadian giant Cameco has long loomed as a natural partner for Aura given its involvement in a similar project in nearby Finland.

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Read more: http://www.smh.com.au/business/mining-and-resources/paladin-shares-soar-on-uranium-deal-20120815-247qh.html#ixzz23ZtIHlgH