PDN 8.58% $7.47 paladin energy ltd

capital raising

  1. 152 Posts.
    lightbulb Created with Sketch. 1
    http://www.newswire.ca/en/releases/archive/September2009/08/c3163.html

    wonder if this is was hurridly done for a takeover of EME?


    Paladin Energy announces proposed placement of shares

    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    PERTH, Western Australia, Sept. 8 /CNW/ - Paladin Energy Ltd (ASX Code:
    PDN; TSX Code: PDN) ("Paladin") today announced that it intends to undertake
    an institutional private placement of ordinary shares. The placement is
    expected to be for up to 15% of Paladin's issued capital.
    The price and terms of the offering will be determined by Paladin after
    an overnight marketing effort to be undertaken by RBC Capital Markets and UBS
    AG, Australia Branch, acting as Global Joint Lead Placing Agents and Cormark
    Securities Inc., Dundee Securities Corporation and GMP Securities L.P. as
    Co-Managers to the placement. The placement will be made pursuant to
    exemptions from registration and prospectus requirements under applicable
    securities laws and is subject to receipt of all applicable regulatory
    approvals, including approval of the Toronto Stock Exchange.
    Paladin intends to use the funds raised to:

    - provide Paladin with the financial capacity to advance M&A and
    inorganic growth opportunities;
    - progress the Langer Heinrich Stage 3 project (recently approved by
    the Board);
    - expand exploration and pre-development programs in Australia; and
    - enhance Paladin's balance sheet flexibility to ensure Paladin remains
    well placed to take advantage of other international nuclear industry
    opportunities as they arise.

    About Paladin Energy Ltd

    Paladin is listed on the Australian Securities Exchange, the Toronto
    Stock Exchange and the Namibian Stock Exchange under the symbol "PDN". Paladin
    is a uranium production company with two operating mines in Africa, projects
    in Australia and a strategy to become a major uranium mining house. Since
    1998, during a period of sustained downturn in global uranium markets, Paladin
    has accumulated a quality portfolio of advanced uranium projects each having
    production potential.
    The Langer Heinrich Uranium Mine in Namibia is now operational with a
    targeted annual production of 5.2Mlb U(3)O8 and a mine life maintainable at
    approximately 20 years. The Kayelekera Uranium Mine in Malawi was officially
    opened in April 2009 and has been commissioned with the plant showing
    capability to operate throughout its flowsheet with yellowcake produced during
    this phase. The 3.3Mlb pa project is currently in its production ramp-up
    phase. Paladin recently announced the first drawdown under the Kayelekera
    Project Financing Loan.
    This private placement is subject to a trading halt in Australia which
    will remain in place until the markets resume trading on the ASX on Thursday,
    September 10, 2009. Paladin expects that trading will continue normally on the
    TSX on Wednesday, September 9, 2009.

    Additional Notes:

    This news release does not constitute an offer of shares for sale in the
    United States or in any other jurisdiction in which such an offer would be
    illegal. The shares referred to herein have not been and will not be
    registered under the United States Securities Act of 1933, as amended (the
    "Securities Act"), and may not be offered or sold in the United States unless
    the shares are registered under the Securities Act or an exemption from the
    registration requirements of the Securities Act is available.

    Caution regarding forward-looking information: Except for historical
    information contained in this news release, this news release contains
    "forward-looking statements" and "forward-looking information" within the
    meaning of securities laws of applicable jurisdictions. The forward-looking
    statements and forward-looking information include, but are not limited to,
    statements with respect to Paladin's intentions to undertake a private
    placement of shares and the uses for the funds raised, Paladin's strategy to
    become a major uranium mining house, the targeted annual production and mine
    life of Paladin's Langer Heinrich Uranium Mine in Namibia and plans to proceed
    with the Stage 3 expansion of the Langer Heinrich Uranium Mine, and the
    commissioning and projected operational capability of Paladin's Kayelekera
    Uranium Mine in Malawi. Assumptions upon which such forward-looking statements
    and forward-looking information are based include that all regulatory
    approvals to the private placement will be obtained, and all other conditions
    to completion of the transaction will be satisfied or waived, and that the
    Stage 3 expansion of the Langer Heinrich Uranium Mine will proceed as planned,
    the Langer Heinrich Uranium Mine will meet its targeted annual production and
    commissioning and projected operational capability of the Kayelekera Uranium
    Mine will be accomplished. Management believes these assumptions are
    reasonable. However, the forward-looking statements and forward-looking
    information involve known and unknown risks, uncertainties and other factors,
    many of which are outside the control of Paladin, and its officers, employees,
    agents or associates. Such risks, uncertainties and other factors include, but
    are not limited to: risks related to mining operations, including political
    risks and instability and risks related to international operations, actual
    results of current exploration activities, conclusions of economic
    evaluations, changes in project parameters as plans continue to be refined, as
    well as those factors discussed in the section entitled "Risk Factors" in
    Paladin's most recent Annual Information Form available under Paladin's
    profile on SEDAR at www.sedar.com. Although Paladin has attempted to identify
    important factors that could cause actual results to differ materially from
    those contained in forward-looking statements and forward-looking information,
    there may be other factors that cause results not to be as anticipated,
    estimated or intended. Actual results, performance or achievements may vary
    materially from those suggested by such forward-looking statements and
    forward-looking information. Readers are cautioned not to place undue reliance
    on forward-looking statements and forward-looking information and Paladin
    assumes no obligation to update such information, except as required by
    applicable law.




    For further information: John Borshoff, Managing Director/CEO, Paladin
    Energy Ltd, Telephone: +61 8 9381 4366, Mobile: +61 419 912 571, Email:
    [email protected]; This information is available on our
    website at www.paladinenergy.com.au; Greg Taylor, Investor Relations Contact,
    Telephone: (905) 337-7673, Mob: (416) 605-5120 (Toronto), Email:
    [email protected]

    cheers
 
watchlist Created with Sketch. Add PDN (ASX) to my watchlist
(20min delay)
Last
$7.47
Change
0.590(8.58%)
Mkt cap ! $2.234B
Open High Low Value Volume
$7.09 $7.51 $7.09 $98.97M 13.49M

Buyers (Bids)

No. Vol. Price($)
1 50000 $7.46
 

Sellers (Offers)

Price($) Vol. No.
$7.48 10967 2
View Market Depth
Last trade - 16.10pm 13/11/2024 (20 minute delay) ?
PDN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.