Q1 has ended and now we await the REPORT
So its time to reflect on what was in the Q4 2011 report
USE WIDE SCREEN OPTION
Paladin Energy
14/02/2012
announces PROFIT US$ 3.2 million as at 31/12/2011
previous comparative quarter realised a Loss of US$17.5m
Sales Revenue increased 50% result of Higher sales volume
av sales price US$52 lb compared to 2010 of US$50 lb
av Dec 2011 sale price US$53 lb
new contracts ...commencing 2012 to 2016 pricing mid to low US$60 lb for 2.8Mlb (Pg2)
A higher proportion of contracted deliveries are scheduled in the forthcoming 6 months to 30 june 2012 (Pg 15)
LH Stage one project finance repaid (US$24.8M)
CASH position 31/12/2011 US$128.8M
CURRENT INVENTORY (dec31) US$187.1M jUNE30 INVENTORY US$177.7M (pg42)
revenue from sales of Uranium oxide US$172.7 up 51%
revenue 6mths ended 31 dec 2011 US$173.4 up 50% from US$115.8M in 2010 (Pg 30)
SALES to external customers dec 2011 namibia US$126.2M Malawai US$46.7M
SALES to external customers dec 201O namibia US$92.5M Malawai US$22.2M
Net tangible assets per share US$1.46
LHM
In Dec produced in excess of 90% of stage 3 nameplate production.
Dec qtr production saw an increase of 40.5% over previous qtr
and 33% increase on previous qtr record (Pg3)
PAGE 12 QUOTES 40% increase and 92% of stage 3 design capacity
Expected to ramp up to 99% in March 2012 (Pg4)
LH cost per lb reduced to US$32lb compared to US$33lb in 2010
C! cost for the qtr decreased to US$31lb
KM plant
Dec 256,026 lb produced
up 60 % from previous qtr...12 days in oct 2011 plant was offline...
production for the qtr was 77% of nameplate 631,780lb
Nov and Dec record production months av 93% of nameplate (Pg5)
C1 costs in 2011 had decreased to US$46 lb as at 20/05/2011 but the KM product
sold from inventory in DEC Qtr..it had been written down to to a recoverable value of
US$52.75lb with a C! cost component of approx US$40lb (p14)
C1 cost increased from US$40lb in the qtr to 30 spt 2011 to US$46lb in qtr ended dec 2011
Sept Qtr production was lower due to plant shut down and inventory sold in Dec was mostly
inventory held at 30 june 2011 (Pg 18)
BANKERS Tech test for 90days nov1 2011 to 31 jan 2012 have been passed (Pg6)
RECORD PRODUCTION AT BOTH SITES FOR THE DEC QTR
..............
GROSS PROFIT in 2011 was US$17m in 2010 it was US$11m
(due to higher sales and lower c1 cost per lb
Total Comprehensive income to 31dec 2011 US$185.5m
Total Comprehensive income to 31dec 2010 US$108.8m (Pg19)
CONVERTIBLE NOTES (Pg 45)
CONVERSION PRICES OF NOTES
DUE 2013 US$6.59
DUE 2015 US$5.665
CAMECO AND PALADIN ENERGY
ANGELA JOINT VENTURE ,NORTHERN TERRITORY
PALADIN 50% CAMECO 50 % JOIN VENTURE
MANAGER PALADIN ENERGY AS AT Sept 2011
exploration to resume approx june qtr 2012
So it shows that Cameco are on good terms and future deals cannot be unexpected.
THE IMPAIRMENT THAT SENT THE PRICE DOWN DUE TO IRRESPONSIBLE JOURNALISTS
NOT REPORTING ALL THE FACTS
THIS impairment is a simple devaluing of the plant and equipment due to the
financial circumstances after the disaster in japan.
when carried forward in the accounting the reduced valuation becomes a loss and
consequently any REAL PROFIT appears to VANISH...
THE REALITY IS ITS MAKING MONEY....
It all for accounting purposes and realises a tax loss on paper.
The journo failed to mention one main point
THE COMPANY MADE A PROFIT AFTER TAXES
WELL I covered as many points as i could and probably missed many but
there are 64 pages so go read it and enjoy.
The $120 million LOSS was an IMPAIRMENT cost associated with the WRITE DOWN OF
THE KAYELEKERA MINE ASSET that
occurred in the previous quarter ended sept 2011
The write down was considered NECESSARY as a result of the REDUCTION in
uranium prices POST FUKUSHIMA
Company recorded US$3,.2 m PROFIT after tax for the qtr ended dec 2011 COMPARED
to a US$ 17.6m loss in the comparative qtr as a result of HIGHER SALESVOLUMES and PRICES
as well as LOWER OVERHEAD and FINANCE COSTS
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