Uranium

Note: breaking news just out: partial meltdown reported at Fukushima plan

Paladin Energy Ltd-Statement on Japan Nuclear Situation and Conference Call Notice

ccnm






PERTH, WESTERN AUSTRALIA--(Marketwire - March 16, 2011) -
Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") expresses its deepest condolences to the people of Japan following the tragic events of Friday 11 March 2011. "We are very saddened by the catastrophic events and extreme loss of life following the dual natural disasters of an earthquake and tsunami", stated John Borshoff, Managing Director/CEO of Paladin. "We are encouraged that Fukushima plant managers are making public safety their highest priority and although the situation remains of grave concern it seems to be progressing slowly towards stabilisation of the damaged reactors".


Paladin has had numerous queries regarding its business with Japan and the impact of recent events. While the Company endeavours to work with all participants in the nuclear sector and is developing a regional diversified sales portfolio, it does not currently have a commercial relationship with Japanese utilities. Paladin has a strong balance sheet with US$251.8M in cash as of 31 December 2010; is on track to produce 6Mlb to 6.3Mlb U3O8 in FY 2011; and commissioning of Langer Heinrich Mine Stage 3 expansion to 5.2Mlb U3O8 will occur in April giving the Company an installed capacity to provide 8.5Mlb U3O8 pa.


Paladin continues to believe that the medium and long-term outlook for nuclear power remains positive and that recent events could further exacerbate the supply situation, ironically putting Paladin in an even better position with respect to global demand. There are more than 440 nuclear reactors operating safely around the world and growth of the fleet is assured with the 62 reactors currently under construction, with further expansion forecast from the emerging nuclear economies.


Paladin will hold a conference call regarding the Japanese nuclear situation on Thursday 17 March details below.




Paladin Energy Ltd





Investor Conference Call and Update - March 16/17 2011










Date: 17 March 2011

Time: 07:00 Perth








PLEASE CHECK THE WORLD CLOCK TO CONFIRM THE DATE AND START TIME FOR YOUR LOCAL TIME ZONE.








Toronto: 16 March 2011, 19:00 hrs / London: 16 March 2011, 23:00 hrs / Hong Kong: 17 March 2011, 07:00 hrs







LIVE - Conference Call



(TSX:PDN)(ASX:PDN) Paladin Energy Ltd ("Company") announces that the Company will hold a telephone conference at 07:00 Perth and 07:00 Hong Kong on 17 March 2011 and 18:00 Toronto and 23:00 London on 16 March 2011, to give an update on the Company.


Questions will be taken at the briefing's conclusion - Dial in numbers for the conference call are as follows:





Australia


1800 148 258






Belgium


0800 715 72






Canada


1866 837 4489






China North


1080 0611 0127






China South


1080 0361 0079






France


0800 908 221






Germany


0800 181 4827






Hong Kong


800 965 808






India


0008 00100 7048






Indonesia


0018 0306 12145






Ireland


1800 720 011






Italy


800 788 772






Japan


0044 2206 2118






Johannesburg


+61 2 8524 6650






Malawi


+61 2 8524 6650






Malaysia


1800 180 708






Namibia


+61 2 8524 6650






Netherlands


0800 0229 451






New Zealand


0800 667 018






Norway


800 10112






Philippines


1800 1612 0005






Singapore


800 616 2170






South Korea


0079 8612 1097






Sweden


0207 99376






Switzerland


0800 561 529






Taiwan


0080 1232 398






Thailand


0018 0061 21124






United Kingdom


0800 056 9662






United States of America


1866 586 2813