URANIUM MINES AND MINING – AUSTRALIA

Former uranium market darling calls in administrators

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 : 4-Jul-17

Australian-listed Paladin Energy will seek a restructuring or recapitalisation after appointing administrators from KPMG. The move follows Paladin’s failure to secure a deal with Electricite de France to extend the deadline to repay $US200m plus interest of $US77m, which fell due on 10 July. The prepayment related to a long-term uranium supply contract, and the French utility rejected a proposed standstill agreement which would have given the debt-laden Paladin more time to pay.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ELECTRICITE DE FRANCE, KPMG AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, CHINA NATIONAL NUCLEAR CORPORATION

Payment call puts Paladin in fight to survive

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Original article by Tess Ingram
The Australian Financial Review – Page: 30 : 14-Jun-17

Paladin Energy’s proposed debt restructuring is in doubt after an independent expert ruled that the embattled uranium miner must repay Electricite de France around $US277m within 30 days. The France-based energy utility is a major buyer of uranium from Paladin, and its support is crucial to the Australian-listed group’s deal to restructure its debt. Matthew Keane of Argonaut Securities says Paladin could face insolvency unless it can secure a standstill agreement. Paladin’s debt totalled $US665m at the end of the March 2017 quarter.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ELECTRICITE DE FRANCE, ARGONAUT SECURITIES PTY LTD

Paladin flags critical debt restructure

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 11-Jan-17

Australian-listed uranium producer Paladin Energy has revealed plans to restructure its debt. Some $US212m worth of convertible bonds are set to mature in April 2017, while an additional $US150m worth of convertible notes will mature in 2020. Paladin proposes to replace them with $US115m worth of secured bonds and $US102 million of convertible bonds, which would mature in 2022 and 2024. Bondholders would also be issued with shares in Paladin if they endorse the proposal.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ATLAS IRON LIMITED – ASX AGO, EMECO HOLDINGS LIMITED – ASX EHL, CITIGROUP PTY LTD, SHAW AND PARTNERS LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ELECTRICITE DE FRANCE, CHINA NATIONAL NUCLEAR CORPORATION

Paladin’s survival countdown

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Original article by Paul Garvey
The Australian – Page: 13 & 14 : 9-Jan-17

Australian-listed uranium producer Paladin Energy must repay some $US212m ($A289m) worth of debt by the end of April 2017. The future of Paladin has been under scrutiny since the group advised in early December 2016 that the sale of a 24 per cent stake in its Langer Heinrich uranium mine in Namibia is unlikely to proceed. A debt-for-equity swap is seen by many as the most likely option for Paladin to ensure its survival. The group’s shares are trading at around $A0.10.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ATLAS IRON LIMITED – ASX AGO, CHINA NATIONAL NUCLEAR CORPORATION, UBS AG, CITIGROUP INCORPORATED, SOUTH GOBI RESOURCES, ALUMINIUM CORPORATION OF CHINA LIMITED, ELECTRICITE DE FRANCE

Rio pushes for nuclear power in energy debate

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Original article by Annabel Hepworth
The Australian – Page: 20 : 2-Dec-14

Submissions have been lodged with the Australian Government’s new energy white paper taskforce. Rio Tinto argues that nuclear power should not automatically be ruled out as an option for the nation as it seeks to curb its greenhouse gas emissions. Fellow uranium producer BHP Billiton says in order for Australia to cash in on the growing demand for energy worldwide, local labour market laws must be relaxed to boost productivity. Others to make submissions are ANZ Banking, Peabody Energy and Qantas Airways

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PEABODY ENERGY AUSTRALIA COAL PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE