Paladin Energy Ltd - PALAF stock
Company Profile[edit]
Paladin Energy Limited (OTC: PALAF, ASX: PDN, TSX: PDN) is an Australia-based Uranium exploration and mining company. Incorporated in 1993, the company develops and explores uranium deposits in Australia, Canada, and Africa. The company possesses a portfolio of uranium exploration and development property across the globe. It hugely focuses on the Langer Heinrich mine, its flagship project located in the Namib Desert. Paladin’s operations are conducted via three significant divisions: Exploration, Namibia, and Australia. The exploration division develops exploration and evaluation projects in Australia and Canada. The Namibia segment engages in the production and sale of uranium extracted from the facility located in Namibia. The Australia division oversees administration, corporate, sales and marketing, and treasury operations.[1] The firm has 100% interest in the Manyingee Project in Western Australia, which comprises two exploration licenses and three mining licenses; 100% interest in the Mount Isa project in Queensland, composing six mineral development licenses; and the Carley Bore project in western Australia, consisting of two contiguous exploration permits with granted retention status. It also holds a 70% interest in the Michelin project in Labrador. The company was known as Paladin Resources Ltd before changing its name in November 2007 to Paladin Energy Limited in November 2007. Paladin’s stocks are listed on ASX under the PDN symbol and on the OTCQX market under the PALAF ticker symbol. The company is headquartered in Perth, Australia.[2]
Exploration Projects[edit]
Michelin-Canada[edit]
Through Aurora Energy Ltd, its subsidiary, Paladin, owns a 65% interest in 52,250 hectares of mineral licenses within the Central Mineral Belt of Labrador. Paladin’s claims on the Michelin project coincide with approximately 127.7Mlb of Mineral Resources distributed across six deposits.[3]
Manyingee-Australia[edit]
The company has 100% interest in the project. It holds two exploration licenses covering 76,520 ha and three mining licenses. It consists of 41 Mlb across two deposits. The company has invested $17.9M in the exploration and testing of the asset. The firm believes the project can be extracted in four years through in-situ recovery (ISR) uranium mining operation.[3]
Mount Isa-Australia[edit]
The project contains 148.3 Mlb, with 115.7 Mlb across Odin, Skal, and Valhalla deposits. Paladin has six mining licenses on the property. It is the largest uranium asset in Queensland, with a potential of 5-7Mlbpa uranium.[3]
Uranium Marketing[edit]
Paladin successfully closed three uranium offtake agreements in Q3 2022 to supply uranium to central industry counterparties in the US and Europe. The company received Namibian Ministry of Mines and Energy (MME) clearance for two of the three deals and continues to push for approvals for the remaining agreements by the authority. The company is set to supply CNNC with approximately 3.4Mlb of U3O8 in 2024 and 2025 under revolutionary market rates. The firm continues engaging top-tier industry participants in the quest for more pre-production offtake agreements.[4]
Langer Heinrich Mine[edit]
In July 2022, the company decided to restart production in the Langer Heinrich Mine. The project restart expenditure was estimated at $118 million, split across refurbishments, repairs, and debottlenecking activities.[5]
The Langer Heinrich Mine is recognized for its track record spanning over ten years of continuous premium uranium production.[6] The asset has generated over 40 million pounds of U3O8 in the last decade and has the potential for further production approximated at 76 million pounds. The company paused production on the asset in 2018 due to eroded uranium prices. The property was discovered in 1973. In August 2002, Paladin acquired Langer Heinrich Uranium Ltd and all its assets from Aztec Resources Ltd. The company conducted a thorough study on the asset, which was summed up in mid-2020. Survey results uncovered significant uranium presence that can be extracted for 17 years at approximately 6 Mlb U3O8 annually over seven years.[7]
Acquisitions[edit]
Fission Uranium[edit]
Paladin Energy Ltd has completed the acquisition of Fission Uranium Corp. (TSX: FCU) through a court-approved plan of arrangement in December, 2024. The transaction involved Paladin acquiring all issued and outstanding shares of Fission.[8]
- ↑ Paladin Energy Limited Details – CNBC News. Accessed on February 27, 2023.
- ↑ PALAF Company Profile –Seeking Alpha. Accessed on February 27, 2023.
- ↑ 3.0 3.1 3.2 Global Exploration and Development Assets – Paladin Energy website. Read on February 28, 2023.
- ↑ Paladin Energy Quarterly Activities Report for the period ending December 31, 2022 – Uranium Marketing, Page 3 - ASX Announcement. January 19, 2023.
- ↑ Paladin Energy Sustainable Report 2022 - Business Resilience, Page 20 – Paladin Website. Retrieved on February 28, 2023.
- ↑ Paladin Energy Quarterly Activities Report for the period ending December 31, 2022 - About Paladin, Page 5 - ASX Announcement. January 19, 2023.
- ↑ Paladin Energy website – Home. Accessed on February 28, 2023.
- ↑ Yahoo. Paladin completes acquisition of Fission. December 23, 2024.
OTC Symbol: PALAF | OTC Tier: OTCQX International
