Paladin Energy Ltd is an Australian-based global uranium leader with two mines in Africa, Langer Heinrich in Namibia and Kayelekera in Malawi. Paladin has a diversified portfolio of development assets in Australia and Canada with unsurpassed uranium price leverage.
Paladin placed both mines on care and maintenance due to the sustained low uranium spot price and to preserve resource and shareholder value. However, in March 2019 Paladin commenced feasibility studies aimed at re-positioning the Langer Heinrich operation for a restart when a suitable uranium incentive price is reached and to develop opportunities to reduce operating costs and potentially recover vanadium.
Scott Sullivan – Chief Executive Officer
Mr Sullivan brings 30 years of diversified mining experience to Paladin, across multiple commodities and projects domestically and internationally. His experience spans strategic planning in mines and smelters; feasibilities; commissioning; mine expansion and restructuring; mine, port and rail infrastructure; project management; sustainability and government and has a strong emphasis on operational optimisation.
What is your rationale for attending 121 Mining Investment?
On market support from US funds looking at the Uranium market. We have just raised an additional A$30.2M as of Sept 13.
What are your key goals for the next 3, 6 and 12 months?
Completion of sale of Kayelekera mine in Malawi to Hylea Metals to reduce cash burn
Announcement on Pre-Feas results into restart of Langer Heinrich mine in Namibia
Announcement on Feasibility results into restart of Langer Heinrich in Namibia
What do you think makes your company such a compelling investment?
Proven past producer with established mines on care and maintenance
Operations in safe stable countries
Earliest restart timeline back in to a rising Uranium market
Low cost producer
Low capital for a restart compared to new mines
Existing market knowledge and relationships
High leverage to current valuation