Uranium miner Paladin’s financial loss twice as bad this year as last year
Struggling Paladin records $471m loss Canberra Times, August 30, 2013 Peter Ker Uranium miner Paladin has more than doubled last year’s losses with a $US420.9 million ($471.2 million) net loss for the 2013 financial year.
Despite increasing production and improving revenue, low uranium prices continue to take a toll on the company, prompting $US335.9 million worth of asset write downs.
Shares in Paladin last traded at 53 cents, meaning the stock has almost been decimated – in the literal sense of the word – since the Fukushima nuclear crisis destroyed confidence in the sector…… The Singaporean Government’s investment corporation is now the company’s biggest shareholder.
Paladin boss John Borshoff acknowledged that the recent failure to sell a stake in the company’s flagship mine was the major disappointment of the year, http://www.canberratimes.com.au/business/earnings-season/struggling-paladin-records-471m-loss-20130830-2sulp.html#ixzz2dZwCtmc0
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