From a posting in www.stockhouse.com: Be careful, another asset...

From a posting in www.stockhouse.com: Be careful, another asset sale or equity issuance may be coming......

In part this is what TD had to say: Paladin Energy Ltd. (PDN-T) C$0.38 Seeking New Partnership to Deleverage Balance Sheet Event Paladin Energy reported its Q1/F15 (September quarter) financial results. Impact: NEUTRAL • Paladin reported a Q1/15 loss of $38.8mm (-$0.04/share), which was below our estimate for a loss of $0.03/share and consensus for a loss of $0.02. After adjusting for a $22mm deferred tax loss related to foreign exchange differences, we calculate an adjusted EPS loss of $0.02/share. • Despite the recent strength in the uranium spot price, which has risen over $7.00/lb to $42.94/lb since the end of the September, we have made no changes to our uranium price deck, as we remain concerned about near-term oversupply conditions. That said, we will continue to monitor the market over the next few weeks, and in the interim, we have made some minor adjustments to our realized price forecasts for Q2/F15. • F2015 production guidance from Langer Heinrich is unchanged at 5.4mmlb–5.8mmlb (100% basis). We are forecasting 5.30mmlb (4.01mmlb attributable) at cash costs per pound sold of $31.00. • The company is targeting an announcement before year end related to its strategic partnership discussions. The company hopes to enter into an agreement that would help deleverage its balance sheet and potentially help jointly fund new developments. We believe that the company may look at asset sales similar to the 25% sale in Langer Heinrich, additional forward sales agreements or an equity issuance. TD Investment Conclusion We are maintaining our HOLD rating and $0.45 target price. Despite the recent strength in the uranium price and pending an update on the strategic initiatives being undertaken, we remain concerned about the company’s ability to refinance its long-term debt. For the moment, we assume that the company will refinance $525mm in debt between F2016 and F2017.