PDN 0.79% $11.43 paladin energy ltd

deutsche bank - $3.30, page-16

  1. 2,602 Posts.
    Deutsche Bank 16/02/2010 5 Sell $3.30 - 5.7%

    The 1H loss of US$19.4m was a little better than the broker had pencilled in, however EBITDA of
    US$13.5m was well short of the broker's US$22.6m and was most likely due to higher commissioning costs at Kayelekera and a strong Namibian dollar.

    Capex and opex also exceeded forecasts due to project delays, and overall, the broker thinks the company's 2010 production guidance is now out of reach. Calling it a "poor" quality result, the Sell call is maintained, with the broker remaining negative on the uranium price during 2010.
 
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