Antinuclear

Weak uranium price hits Paladin NICK SAS The West AustralianAugust 29, 2014 The weak uranium price has hit Perth miner Paladin Energy, with the company reporting a $338 million loss for the year.

Late last night the John Borshoff-run company reported a basic operating loss of $3.4 million – which it blamed on the weak uranium price – compared to its operating profit of $55.9 million last year.

The $338 million book loss came on the back of a $226 million impairment on its Queensland exploration assets, along with smaller impairments at its African mines.

The Kayelekera Mine, which it put on care-and-maintenance in May, was the main culprit in the operating blowout, with the mine reporting basic cash costs – but not all-in costs – of $US42.6 a pound.

The uranium price has been hovering around the $30/lb pound mark for much of the year……….

Earlier this week Mr Borshoff had his contract extended by two years until the end of 2016. He will be paid a base salary of $1.38 million a year. https://au.news.yahoo.com/thewest/business/a/24850516/weak-uranium-price-hits-paladin/