Antinuclear

Australian uranium miner Paladin continues its downward plunge

Paladin continues uranium plunge, Yahoo 7 News,  Nick Evans  November 14, 2014 A surge in the uranium spot price failed to help Paladin Energy’s bottom line, with the company declaring a net after-tax loss from operations of $US45.8 million for the September quarter.

According to Paladin’s latest financial results, released late yesterday, revenue for the quarter crashed 43 per cent to $US39.3 million………

The unexpectedly big loss will put further pressure on Paladin’s balance sheet, despite the completion of a $US190 million company-saving deal with China National Nuclear Corporation for the sale of a 25 per cent stake in Langer Heinrich. Closure of the deal left Paladin with cash holdings worth $US209.5 million at September 30.

Paladin also refinanced its existing $US110 million project finance loan and $US20 million working capital facility in the quarter, and used some of the CNNC cash to pay down debt.

But the company still faces the task of refinancing $US300 million of convertible bonds maturing next November, as well as paying $US40.4 million in interest and principal repayments before next September…….https://au.news.yahoo.com/thewest/business/wa/a/25512522/paladin-continues-uranium-plunge/

November 17, 2014 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, uranium