Feb 20 Uranium Stocks Update: Paladin Resources (TSE:PDN)
A week ago February 13th, Paladin announced 2nd quarter results to the end of 2005 and offered up a few insights into what is to come.
Second Quarter Highlights
Operational:
- Construction activity continues on schedule (31% complete) and budget for the Langer
Heinrich Uranium Project, Namibia
- BFS progressed on the Kayelekera Uranium Project, Malawi – including metallurgical work and State Agreement discussions
Financial:
- As at December 31, 2005, the Company had A$94.4 million in cash and cash equivalents,
compared with A$34.9 million at the commencement of the quarter – as a result of the A$77
million placement completed in October 2005
- Mine construction expenditure of A$15.7 million and exploration/evaluation expenditure of
A$0.2 million for the second quarter on the Langer Heinrich Uranium Project
- Exploration and evaluation expenditure of A$0.6 million during the second quarter for the
Kayelekera Uranium Project
- Operating profit for the latest period was A$2.3 million, compared with a loss (including a profit from discontinued operations) of A$1.5 million for the prior period
Analysis: basically, everything is going as planned. They really haven't missed a deadline yet.
Btw, James Dines, basically the pioneer of uranium investing, can be heard speaking during the Vancouver Resource Conference.
http://www.howestreet.com/fbn/mediaplayer.php?fbnId=111
This is what he says about Paladin:
"There's no other investment in the world in my opinion that comes anywhere near uranium. It's recession-proof. Everytime there's a new price, it's up; there is virtually never a pullback and, furthermore, something historic just happened recently. A nuclear facility, desperate for uranium, made an agreement with Paladin to buy uranium in the ground, before it's been even mined, to be delievered in 2009. Now wait a second, that's not all, they also have a floor price, but no ceiling! So it's an unprecendented, incredible demonstration of the coming uranium buying panic."
Read my original Paladin post for more details and analysis
Second Quarter Highlights
Operational:
- Construction activity continues on schedule (31% complete) and budget for the Langer
Heinrich Uranium Project, Namibia
- BFS progressed on the Kayelekera Uranium Project, Malawi – including metallurgical work and State Agreement discussions
Financial:
- As at December 31, 2005, the Company had A$94.4 million in cash and cash equivalents,
compared with A$34.9 million at the commencement of the quarter – as a result of the A$77
million placement completed in October 2005
- Mine construction expenditure of A$15.7 million and exploration/evaluation expenditure of
A$0.2 million for the second quarter on the Langer Heinrich Uranium Project
- Exploration and evaluation expenditure of A$0.6 million during the second quarter for the
Kayelekera Uranium Project
- Operating profit for the latest period was A$2.3 million, compared with a loss (including a profit from discontinued operations) of A$1.5 million for the prior period
Analysis: basically, everything is going as planned. They really haven't missed a deadline yet.
Btw, James Dines, basically the pioneer of uranium investing, can be heard speaking during the Vancouver Resource Conference.
http://www.howestreet.com/fbn/mediaplayer.php?fbnId=111
This is what he says about Paladin:
"There's no other investment in the world in my opinion that comes anywhere near uranium. It's recession-proof. Everytime there's a new price, it's up; there is virtually never a pullback and, furthermore, something historic just happened recently. A nuclear facility, desperate for uranium, made an agreement with Paladin to buy uranium in the ground, before it's been even mined, to be delievered in 2009. Now wait a second, that's not all, they also have a floor price, but no ceiling! So it's an unprecendented, incredible demonstration of the coming uranium buying panic."
Read my original Paladin post for more details and analysis
posted by Spelunca at 8:46 PM
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