USE FULL WIDTH TO VIEW REPORT ON CASH POSITION...HALF WAY DOWN THE PAGE SMH REPORT THE WORST BIT OF JORNALISTIC DRIBBLE I HAVE READ IN A LONG TIME...BIN IT OR COMPLAIN TO THE EDITOR......ITS MISLEADING REPORTING...... -------------------------------------------------------------------------- REPORTERS ARE HEADLINE SEEKERS...THEY ARE BASICALLY DUMB.....THEY ARE NOT FINANCIAL WIZARDS.......I doubt they even read a full report from page 1 to the end.......they are in fact guilty of providing MISLEADING INFORMATION TO THE MARKET AT TIMES..... TO just make a few short points on this low grade SMH PEPORT....HE'S AN IDIOT HE SAID "Paladin had a $US120 million loss in the six months to December 2011" THE FOOL doesn't even know it WAS NOT AN CASH OPERATING LOSS..IT WAS a writedown on the value of plant and equipment.....THAT BECOMES A TAX DEDUCTIBLE ITEM AGAINST FUTURE PROFITS.....PDN called it an IMPAIRMENT SOME CALL IT RAPID DEPRECIATION..... He failed to mention Pdn announced a US$3.2 million PROFIT FOR THAT QTR..... ---------------------- "the REPORTER SHOULD GRAB A BOOK FOR DUMMIES ON UNDERSTANDING THE MARKET AND ACCOUNTING: NEXT DUMB STATEMENT "uranium prices recently slumping to a multi-year low, THATS the spot price...and there is bareley any trading been done in the spot market....Nuclear Power Compnies have opted to deal direct with the URANIUM suppliers...cutting out the middle men vulture crowd.....ie the spot market.... PDN deals direct with the Nuclear power Companies and all new contract are for prices ranging from US$60/lb TO mid $US$60/lb mid range ie up to a level of around US$65/lb --------------------------------- NEXT DUMB STATEMENT "company is discussing asset sales and other options to enable it to meet its debt obligations." the COMPANIES IS ASSESSING 3 MAJOR JV DEALS WITH NUCLEAR POWER COMPANIES...YOU KNOW COMPANIES THAT HAVE MILLIONS AND MILLIONS OF SPARE CASH ON THEIR HEALTHY BALANCE SHEETS.......they will announce the results of these deals in the Aug to Oct period 2012 -------------------------------- LET'SALSO ADD THAT THE AUSTRALIAN GOVT IS now considering selling URANIUM TO THE United Arab Emeraties...WHICH IS BUILDING NUCLEAR POWER PLANTS NOW..... AND THE SALE OF URANIUM from AUSTRALIA TO INDIA is still under considration..by the AUSTRALIAN FEDERAL GOVT NOTE ALSO there is a global shortage of URANIUM to meet BUYERS demand and its increasing..... It has been reported by fosters that at present there is approx a 30million/lb shortage Pdn in its last report stated on Pg 9 dated 13/7/2012 TOTAL WORLD URANIUM PRODUCTION IS STILL BELOW WORLD URANIUM DEMAND,A SITUATION LIKELY TO PERSIST FOR SOME TIME" NOTE...RIO HAS PRODUCTION PROBLEMS...BHP HAS PUT EXPANSION OF OLYMPIC DAM ON INDEFINITE HOLD.......GREENFIELD Uranium comanies can't raise capital and need a price of around US$70/lb to be economical...so that future production sector is going nowhere..these re all potential MERGER AND ACQUISITION TARGETS.... Russia will no longer supply URANIUM to the USA as at the end of 2013..that's when their deal ends..and RUSSIA WILL need all its URANIUM for its NEW NUCLEAR POWER PLANTS NOW UNDER CONSTRUCTION....... NOTE..NUCLEAR POWER COMPANIES ORDER 18MONTHS IN ADVANCE...... NOTE....THERE ARE MORE PLANTS BEING BUILT AND IN THE PLANNING STAGE NOW THAN BEFORE THE JAPANESE EARTHQUAKE...... ------------------------------------------------------------------------ THIS JOURNO.....NEEDS TO DO HIS HOMEWORK ..or be put back out on the street to cover flower shows and school events...as he's hopless on financial reporting.......
Read more: http://www.smh.com.au/business/resource-companies-face-cash-crunch-by-christmas-20120802-23ice.html#ixzz22RaxTPwy" Read more: http://www.smh.com.au/business/resource-companies-face-cash-crunch-by-christmas-20120802-23ice.html#ixzz22RZm5Ksh ---------------------------------------------------------------------------------------------- REPORT ON CASH POSITION (1) The 2017 Conv note raised $US274MIll of that ****US$81 mill was retained added to its BALANCE SHEET**** with the balance used to repurchase approx US$191Mill 2013 conv Bonds
FINANCIAL REPORT ENDED 31 MARCH 2012 (asx date 15 may 2012)
(2) CASH ON HAND Pg 5 US$96.9 M
also note P43 bank debt reduced for KM mine financing US$29.9M repaid 30/6/11 US$127.9M 31/3/12 US$98.0M
FINANCIAL REPORT ENDED 31 DEC 2011 (ASX DATE 14/2/2012)
also note PG 1 PROFIT REPORTED OF US$3.2 M after TAX
----------------------------------------- SUMMARY CASH ON HAND APPROX AS AT LAST REPORT
(1) US$81 mill (2) US$96.9 M ______ $US 177.9 m NOW ALLOW FOR INCREASED PROFITS FOR THE JUNE QUARTER......AND THE 3 DEALS BEING CONSIDERED......AND ALL THE TAKEOVER TALK.... EXTRACT FROM POST Post #: 8335206 Price at time of posting: $1.155
2012 ANNUAL Report issued pending expected LATE AUGUST
2011 qtr act report june 2011 issued 20 JULY 2011
2011 ANNUAL Report issued 31 August 2011
2010 qtr act report june 2010 issued 19 JULY 2010
2010 ANNUAL Report issued 27 August 2010 EXTRACT FROM POST Post #: 8337358 Price at time of posting: $1.16 -------------------------------------------------------------------------------------------------------- as at 31/12/2011 profit was US$3.2M
FROM 30/06/12 Qtr report production up 21% annual revenue for FY12 up 140% from FY11
For the June QTR record uranium sales of 2,241,231/lb ..av sales price US$56.15/lb Generating for the JUNE QTR US$125.8M
TOTAL SALES for FY12 6,698,345/lb of uranium +39% on FY11 FY12 SALES REVENUE US$365.8M FY12 av sale price US$54.26/lb
they had a huge inventory already in stock and accounted for in previous financial reports at 31 dec 2011 US$187.1M + Non CURRENT stockpiles (at cost) US$87.2M +stockpiles at net value US$3.6M
at 31 March 2012 Inventory was valued at US$208.8M
For the first time the company has NO MAJOR parallel expansion/construction programmes underway Consequently no furthur expenditure in those areas...
------------------- production at KM was affected by a 2 month shutdown due to a landslip and a 7 day strike there had also been a problem when they previously t purchased a cheaper reagent..this was rectified but production capacity was lost
Paladin has this year undergone a significant program of cost cutting in all areas from administration to direct purchasing of diesel and renegotiating lower transport costs and essential parts....
So it appears to add up to an uplift in profits and a furthur decrease in debt in the very near future.....
that's as close it gets unless you want to sit down for a week and disseminate their financials and guess the last set of financials EXTRACT FROM Post #: 8337358 Price at time of posting: $1.16 ------------------------------------------------------------------------------ UNDERSTANDING SHORTING
AS Pdn has been the victim of massive shorting what is below is very relevant to shareholders so they have a better understanding of what the effects of shorting are.... 70 mill shorts is reason enough to justify adding the article in part...the rest of the article is at its URL ----------------------------------- THE BAN ON short selling in italy and spain WILL ONLY BE EFFECTIVE if the entire euro zone implements the same rule... as the shorters will just shift their shorting to another country where the spanish and Italian banks have exposure.....so the REST or THE E.U has to follow their lead with a blanket ban if this is to succeed....... The funds managers etc will arrgue trading liquidity will dry up and the market will come to a standstill.and that prices will continue to drop....
well if bad news continues....of course prices will drop...but not at the accelerated rate that's caused by massive shorting......so these guys won't make a profit from investors losses ......that's life..they get to feel the pain also...so maybe they will just have to step into the market when a stock is oversold and start buying.....OR CLOSE UP SHOP ------------------------------------------------------ some HISTORY ON SHORT SELLING..WHY IT WAS DEEMED SO DESTRUCTIVE
To profit from a decrease in the price of a security, a short seller can borrow the security and sell it expecting that it will be cheaper to repurchase in the future. When the seller decides that the time is right (or when the lender recalls the securities), the seller buys equivalent securities and returns them to the lender. The process relies on the fact that the securities (or the other assets being sold short) are fungible; the term "borrowing" is therefore used in the sense of borrowing $10, where a different $10 note can be returned to the lender (as opposed to borrowing a car, where the same car must be returned).
A short seller typically borrows through a broker, who is usually holding the securities for another investor who owns the securities; the broker himself seldom purchases the securities to lend to the short seller.[1] The lender does not lose the right to sell the securities while they have been lent, as the broker will usually hold a large pool of such securities for a number of investors which, as such securities are fungible, can instead be transferred to any buyer. In most market conditions there is a ready supply of securities to be borrowed, held by pension funds, mutual funds and other investors. The act of buying back the securities that were sold short is called "covering the short" or "covering the position". A short position can be covered at any time before the securities are due to be returned. Once the position is covered, the short seller will not be affected by any subsequent rises or falls in the price of the securities, as he already holds the securities required to repay the lender. The terms shorting and going short are also used as blanket terms for tactics that allow a speculator to gain from the decline in price of a security. Such tactics are generally based on a derivative contract, such as an option, a future or a similar synthetic position.
For example, a put option consists of the right to sell an asset at a given strike price; the owner of the option therefore benefits when the market price of the asset falls below that price, as he can buy the asset at the lower price and sell it under the option at the strike price. Similarly, a short position in a futures contract means the holder of the position has an obligation to sell the underlying asset later at a given price; if the price falls below the given price, the person with the short position can buy the asset at the lower price and sell it under the future at the higher price. [edit]Worked examples [edit]Profitable trade
Shares in C & Company currently trade at $10 per share. A short seller borrows 100 shares of C & Company and immediately sells them for a total of $1,000. Subsequently, the price of the shares falls to $8 per share. Short seller now buys 100 shares of C & Company for $800. Short seller returns the shares to the lender, who must accept the return of the same number of shares as was lent despite the fact that the market value of the shares has decreased. Short seller retains as profit the $200 difference (minus borrowing fees) between the price at which he sold the shares he borrowed and the lower price at which he was able to purchase the shares he returned. [edit]Loss-making trade
Shares in C & Company currently trade at $10 per share. A short seller borrows 100 shares of C & Company and immediately sells them for a total of $1,000. Subsequently the price of the shares rises to $25. Short seller is required to return the shares, and to meet the obligation is compelled to buy 100 shares of C & Company for $2,500. Short seller returns the shares to the lender who accepts the return of the same number of shares as was lent. Short seller incurs as a loss the $1,500 difference between the price at which he sold the shares he borrowed and the higher price at which he had to purchase the shares he returned (plus borrowing fees). [edit]Comparison with long positions
Short selling is the opposite of "going long". A short seller takes a negative, or "bearish", stance, believing that the price of a security will fall. Speculators who employ short selling often use it to allow them to profit on trading in securities which they believe are overvalued, just as traditional long investors attempt to profit on securities which are undervalued by buying them. Because a short position is the opposite of a long position, many features of the position are reversed in comparison. In particular, the profit (rather than the loss) is limited to the value of the security, but the loss (rather than the profit) is theoretically unlimited. In practice, as the price of a security rises the short seller will receive a margin call from the broker, demanding that the short seller either cover his short position (by purchasing the security) or provide additional cash in order to meet the margin requirement for the security, which effectively places a limit on the amount that can be lost. [edit]History BRITAN BANNED SHORT SELLING IN 1772 Some hold that the practice was invented in 1609 by Dutch merchant Isaac Le Maire, a sizeable shareholder of the Vereenigde Oostindische Compagnie (VOC).[2] Short selling has been a target of ire ever since.[citation needed] In the eighteenth century, England banned it outright.[3] The London banking house of Neal, James, Fordyce and Down collapsed in June 1772, precipitating a major crisis which included the collapse of almost every private bank in Scotland, and a liquidity crisis in the two major banking centres of the world, London and Amsterdam.
The bank had been speculating by shorting East India Company stock on a massive scale, and apparently using customer deposits to cover losses. It was perceived[citation needed] as having a magnifying effect in the violent downturn in the Dutch tulip market in the eighteenth century. ------------------------------------------------------------------------------------------------------------------------------------- George Soros breaking the Bank of England
In another well-referenced example, George Soros became notorious for "breaking the Bank of England" on Black Wednesday of 1992, when he sold short more than $10 billion worth of pounds sterling.
The term "short" was in use from at least the mid-nineteenth century. It is commonly understood that "short" is used because the short-seller is in a deficit position with his brokerage house. Jacob Little was known as The Great Bear of Wall Street who began shorting stocks in the United States in 1822.[4] ------------------------------------------------------------------------------------------------------------------------------------ WALL STREET CRASH 1929
Short sellers were blamed for the Wall Street Crash of 1929.[5] Regulations governing short selling were implemented in the United States in 1929 and in 1940.[citation needed] Political fallout from the 1929 crash led Congress to enact a law banning short sellers from selling shares during a downtick; this was known as the uptick rule, and this was in effect until July 3, 2007 when it was removed by the Securities and Exchange Commission (SEC Release No. 34-55970). _____________________________________________________________________________________________________________________________________ President Herbert Hoover . Edgar Hoover ----prolonging the Depression
[6] President Herbert Hoover condemned short sellers and even J. Edgar Hoover said he would investigate short sellers for their role in prolonging the Depression.[citation needed] ----------------------------------------------------------------------------------------------------------------------------------- DOT COM SENDS SHORTERS TO THE WALL
A few years later, in 1949, Alfred Winslow Jones founded a fund (that was unregulated) that bought stocks while selling other stocks short, hence hedging some of the market risk, and the hedge fund was born.[7] Negative news, such as litigation against a company, may also entice professional traders to sell the stock short.[citation needed] During the Dot-com bubble, shorting a start-up company could backfire since it could be taken over at a price higher than the price at which speculators shorted.[citation needed] Short-sellers were forced to cover their positions at acquisition prices, while in many cases the firm often overpaid for the start-up.[citation needed] [edit]Naked short selling restrictions in 2008
So from whats written above once can see there is not justification for the regulators to allow shorting in any form.....
Paladin energy has been targeted mainly because of its outstanding convertible notes but they present NO problem as they are LONG DATED 2015 AND 2017 THE BALANCE OF THE 2013 conv notes is covered by funds pdn has in its Bank account.....plus it will have funds left over after paying out those notes in March 2013...still a long way off.......
And now we expect to see a substantial rise in PROFITS FOR THE FULL year on the back of the last production report dated 13 july 2012 ------------------------------------------------------------------------------------------------------------------------------
PDN Price at posting:
$1.18 Sentiment: Buy Disclosure: Held
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