Uranium
Note: breaking news just out: partial meltdown reported at Fukushima plan
Paladin Energy Ltd-Statement on Japan Nuclear Situation and Conference Call Notice
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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