PDN - Paladin Energy

[Fab]

Re: PDN - Paladin Resources

Wow that is great. That is exactly what the doctor prescribed for PDN an increase in the uranium spot price and up we go. Hopefully that will provide a floor to the U spot price and then PDN will keep going up. I believe that when their mine teething issues are over and they are in full production from beginning of next year we will see their SP fall as a buying opportunities. Still one of the best U play in my opinion

 

[jman2007]

Re: PDN - Paladin Resources

Wow that is great. That is exactly what the doctor prescribed for PDN an increase in the uranium spot price and up we go. Hopefully that will provide a floor to the U spot price and then PDN will keep going up. I believe that when their mine teething issues are over and they are in full production from beginning of next year we will see their SP fall as a buying opportunities. Still one of the best U play in my opinion

Hi all,

New to this thread, although I would have thought that if PDN sort out their operational issues coupled with an increase in the U spot price, this would have a positive effect on their sp? Just thought I'd put my in!
I don't hold atm.

Cheers
jman2007

 

[JimBob]

Re: PDN - Paladin Resources

I had my stop-loss set at $6.75, which Paladin just touched on Friday so I bailed out. Looks like I may have jumped ship a little early judging from Friday's close in Canada.

 

[shag]

Re: PDN - Paladin Resources

seems like paladin is doing something, anyone with a guess
i do know toroto was up 30c odd but seems to be more......to me anyway.
i checked the spot and didn't seem to have risen, just held am i out of date
i know its likely bottomed out...

 

[roland]

Re: PDN - Paladin Resources

seems like paladin is doing something, anyone with a guess
i do know toroto was up 30c odd but seems to be more......to me anyway.
i checked the spot and didn't seem to have risen, just held am i out of date
i know its likely bottomed out...

Hi, I believe that Paladin has been added to a fund manager's portfolio in it's boutique energy stock offerings. At least something like that ... read it here: http://biz.yahoo.com/seekingalpha/070916/47243_id.html?.v=1

 

[Kauri]

Re: PDN - Paladin Resources

Have moved my stop up to the last swing low.. either a minor W2 or the c leg of the W4.... if all goes to plan am looking in the low $8's for the W5.
Cheers
..........Kauri

 

[Fab]

Re: PDN - Paladin Resources

Have moved my stop up to the last swing low.. either a minor W2 or the c leg of the W4.... if all goes to plan am looking in the low $8's for the W5.
Cheers
..........Kauri

You might get to your stop today. Looking at PDN on the TSX it went up over 6% overnight. On friday it went up over 5% in the TSX and closed yesterday over 8% on the ASX. If the same increase is follow today we should have a jump of PDN of around 10%

 

[lancer]

Re: PDN - Paladin Resources

seems like paladin is doing something, anyone with a guess
i do know toroto was up 30c odd but seems to be more......to me anyway.
i checked the spot and didn't seem to have risen, just held am i out of date
i know its likely bottomed out...

Its too early to know if the spot has risen yet. Usually comes out in several hours from now. Unless you have a source besides trade tech or uxc.

 

[eMark]

Re: PDN - Paladin Resources

You might get to your stop today. Looking at PDN on the TSX it went up over 6% overnight. On friday it went up over 5% in the TSX and closed yesterday over 8% on the ASX. If the same increase is follow today we should have a jump of PDN of around 10%

PDN.TSX 15/10/07

Last Trade: 6.63
Trade Time: 3:59PM ET
Change: + 0.38 (6.08%)
Prev Close: 6.25
Open: 6.55
Bid: 6.61
Ask: 6.63

 

[Miner]

Re: PDN - Paladin Resources

Folks
Without any comments on uranium future as extracted from ABC news

Indian-Aust uranium deal put on backburner
By South Asia correspondent Peter Lloyd

Posted 4 hours 48 minutes ago

The Prime Minister's hopes to sell uranium to India may have been dashed, with India backing out of its nuclear cooperation deal with the United States.

India's demand for Australian uranium for civilian nuclear power stemmed from a landmark treaty with the Americans for the supply of nuclear technology and fuel in July 2005.

The agreement was signed even though India has tested nuclear weapons and not signed the Nuclear Non-Proliferation Treaty.

Labor was always opposed to uranium sales to India and initially so was Foreign Minister Alexander Downer, but John Howard saw a commercial opportunity in support of an important alliance partner.

There was domestic political opposition in India too, mainly from Communist allies in the coalition Government.

Now Indian Prime Minister Manmohan Singh has signalled to the Americans the deal is off, if not for good then at least for the time being.

 

[drmb]

Re: PDN - Paladin Resources

Folks
Without any comments on uranium future as extracted from ABC news

Indian-Aust uranium deal put on backburner
By South Asia correspondent Peter Lloyd

Posted 4 hours 48 minutes ago

The Prime Minister's hopes to sell uranium to India may have been dashed, with India backing out of its nuclear cooperation deal with the United States.

Shouldn't affect PDN's Namibian or other African U deposits or explorers/future miners such as BMN. In fact may boost the African stocks if U for Idnian cannot come from Oz

 

[alankew]

Re: PDN - Paladin Resources

Another strong day so far for this,up4% atm any one any idea whats going on with this or is it just U stocks back in favour and rumours of an increase in price of U

 

[goldensun76]

Re: PDN - Paladin Resources

Well, the spot price of U finally start to climb back..... now trading $3 up at $78...... not a big gain but at least it is something....

 

[thierry]

Re: PDN - Paladin Resources

pdn seems to be into a recovery along with the u price..

can someone do some tech analysis on the key price points .. I think if it breaks through the 8.00 barrier.. it will come close to testing 9 again.. any opinions?

 

[dj_420]

Re: PDN - Paladin Resources

Well, the spot price of U finally start to climb back..... now trading $3 up at $78...... not a big gain but at least it is something....

I think it will create a large change in sentiment. If uranium spot rises again and settles in the 80-90 range we could again see a lot opportunities regarding uranium companies that have been sold of heavily.

Mind you I think now it would only be producers or near term producers that will benefit from a rising spot. I think the days of making 300-400% on an IPO uranium float are over.

 

[eMark]

Re: PDN - Paladin Resources

pdn seems to be into a recovery along with the u price..

can someone do some tech analysis on the key price points .. I think if it breaks through the 8.00 barrier.. it will come close to testing 9 again.. any opinions?

TSX.PDN. OCT 18, 2007

Last Trade: 6.72
Trade Time: 4:18PM ET
Change: +0.33 (5.16%)
Prev Close: 6.39
Open: 6.47
Bid: 6.72
Ask: 6.73

 

[Kauri]

Re: PDN - Paladin Resources

Am still looking for this to get into the low $8's in the next few days or so before possibly retracing a tad..
Cheers
..........Kauri

 

[eMark]

Re: PDN - Paladin Resources

PDN.TSX. OCT 19 2007

Last Trade: 6.48
Trade Time: 4:17PM ET
Change: -0.24 (3.57%)
Prev Close: 6.72
Open: 6.70
Bid: 6.48
Ask: 6.49

Held up rather well considering the 366 point loss on the DOW. At one point only down 10c, but dropped away during the last hour when the DOW capitulated.

Hopefully after the initial shock on Monday morning which PDN.AX is expected to join, sense will prevail, and return it's price to a respectable level. Also it would help if the upcoming weeks U price remains stable, or maybe even has a surprise incrtease.

An interesting article.

On The Cover/Top Stories
Uranium Rush
Timothy Treadgold 10.29.07

John Borshoff

Australia's John Borshoff returns from his mining wilderness. His revived Paladin Resources is responding to regional demand.

Thirty years in the wilderness almost has a Biblical ring to it, but that's the time served by John Borshoff as he waited for the world to redevelop a taste for his favorite fuel, uranium. Today the 62-year-old Australian geologist is a born-again crusader, with one new uranium mine under his belt, a second being built, and plans to turn the company he founded, Paladin Resources, into a global leader in the nuclear power industry.

The change, triggered by a worldwide rush to switch from burning expensive and polluting fossil fuels such as coal and oil to once maligned uranium, has been dramatic for Borshoff and Paladin.

Four years ago Paladin was classified as "penny dreadful" when its shares were trading at 1 cent. Today it is a member of the top 100 on the Australian Securities Exchange, priced at $6.55 and valued at $3.8 billion, the world industry's second-highest-capitalized pure player. The value of Borshoff's 18 million shares in Paladin has soared from $180,000 to $118 million--and he no longer needs to fund the business off his personal credit card, which is what happened ten years ago when Paladin's bank account held just $17,000.

"I was always confident that uranium would return," Borshoff says. "The speed at which it's happening is a surprise, but there have been two critical events. There is a shortfall in the uranium inventory and an unbelievable rush to build new nuclear power reactors."

Stampede is probably a more accurate description of the return to nuclear power as an acceptable energy source after the 1979 Three Mile Island accident in the U.S. and the widespread damage and loss of life caused by the 1986 meltdown of a nuclear reactor at Chernobyl in Ukraine.

The 439 reactors currently operating around the world will soon be joined by 31 under construction, 86 planned and 223 proposed. That building program, coupled with a decline in the stockpile of ex-military grade material, has pushed the thinly traded spot market uranium price up from $10.90 a pound in mid-2003 to a peak of $135 a pound three months ago. It is now back around $75 per pound.

"They all need fuel," Borshoff says of the rushed return to nuclear power. "And no one has been exploring for uranium." On that point he's not quite right. Borshoff has forgotten himself.

Trained as a geologist in the 1960s at the University of Western Australia and then as junior geologist with the Canadian nickel miner, Inco, Borshoff moved across to the search for uranium in 1970 when he joined Uranerz, the Australian arm of the German uranium business Uranerzbergbau.

The German company was keen on Australia because it has extensive uranium reserves. The Australian Uranium Association estimates that 24% (1.14 million tonnes) of the world's recoverable uranium is in the country. Kazakhstan has the second-biggest inventory (17%, 816,000 tonnes), with Canada and the U.S. having 9% and 7%, respectively.

Politics, however, killed uranium exploration in Australia in the 1970s. A controversial "three mines" policy was introduced as a key plank in the country's antinuclear stance. The policy limited Australia to three operating mines at any one time. Uranerz and other companies could explore, but they couldn't mine. It wasn't long before most uranium exploration ground to a halt.

Borshoff refused to submit. When Uranerz quit Australia, he bought its extensive geological database for $13,500, partly in lieu of redundancy payments, using it as the key asset in the 1994 float of Paladin. He chose a bad time. Uranium was still deeply unloved, and the price was low as surplus Russian nuclear material flooded the commercial market. Borshoff got it wrong--he believed the price of uranium would rise. It didn't.

After three fruitless years, and with a dwindling bank balance, Paladin started to look for gold, but Borshoff's real interest remained uranium. When the price of uranium started to rise in mid-2003, he was armed with an unrivaled knowledge of uranium deposits around the world, including those at the Langer Heinrich project in southern Africa's Namibia.

Langer Heinrich was discovered in 1972, and its ownership changed several times because of the low uranium price. Paladin was the last in line, with a perfectly timed 2002 acquisition of the project, followed by mine development and the first production of uranium late last year.

Construction of a second uranium mine started three months ago in another African country, Malawi. The Kayelekera deposit was also discovered in 1981 but had lain dormant during the prolonged period of low uranium prices. It will start producing late next year. After Malawi, and with Australia's antiuranium policies breaking down, Paladin plans to develop mines in Australia, thanks in part to that original Uranerz database and also through its takeover earlier this year of a rival Oz explorer, Summit Resources.

"Our plan is to become a multimine, global uranium supply company," Borshoff says. "The Australian political impasse is weakening. It's inevitable. As huge countries like China and Russia declare their interest in Australian uranium, the industry will grow rapidly."

But to win his case for a nationwide boost to the uranium-mining industry Borshoff has some ground to make up. The premier (first minister) of the State of Western Australia, Alan Carpenter, resolutely opposes uranium mining. "We do not support uranium mining because we believe it will inevitably lead to W.A. becoming the dumping ground for the world's nuclear waste," Carpenter said in a definitive statement on uranium last year. He has not changed that position, and he is the man who counts because mining in Australia is state controlled.

But other players in the uranium game agree with Borshoff. Trade association official Ian Hore-Lacy says that even with politically restricted mine development, uranium represents 40% of Australia's energy exports when measured in thermal (heat-generating) terms.

"Australia is a preferred supplier to the world, especially East Asia," Hore-Lacy says. Most of the 10,000 tonnes of uranium exported from Australia in each of the past three years have come from the Ranger mine of Rio Tinto and the giant Olympic Dam mine of BHP Billiton. Right now both of those giant multinationals, as well as Cameco Corp. (nyse: CCJ - news - people ) of Canada, dwarf Paladin as a uranium producer.

According to Hore-Lacy the world uses about 80,000 tonnes of uranium a year. Mine production is running at 42,000 tonnes a year. The balance comes from reprocessed weapons-grade material, most of which will be used by 2013.

"The equation is really very simple," says Greg Hall, managing director of the Australian exploration company Toro (nyse: TTC - news - people ) Energy. "There's a large gap between demand and future supply, and it's going to have to be filled by expanding existing mines and opening new ones.

Join the Queue

Timothy Treadgold 10.29.07

Energy was high on the agenda of Russian President Vladimir Putin when he visited Australia in August--but not as a seller. In a twist that would bewilder European consumers of Russia's vast but unreliable supplies of oil and natural gas, Putin was joining a queue to buy Australian uranium, precisely because it is abundant and supplies dependable.

Despite its own stockpiles of military and civilian nuclear material, Russia is in the market for more uranium for its rapidly expanding nuclear electricity industry. It's not alone.

China's president, Hu Jintao, who was in Australia at the same time as Putin to attend a meeting of the Asia-Pacific Economic Cooperation (APEC) forum, also had uranium on his mind. The major topic when Hu met Howard was energy exports--gas and uranium from Australia.

Shipments of Australian uranium to Russia and China are yet to be made, but both Putin and Hu have signed nuclear safeguard agreements with Australia designed to ensure that any uranium acquired is used only for power generation. India is negotiating a similar deal.

 

[Kauri]

Re: PDN - Paladin Resources

Have now moved my stop up to the top of what seems to be the minor W1... unless of course this all turns out to be a large triangular abc W4??
Cheers
.........Kauri

 

[bigdog]

Re: PDN - Paladin Resources

PDN - Paladin Resources SP currently is +$0.42 +5.71% early this morning with high of $7.94 which was +0.59

PDN $7.77 +$0.42 +5.71% $7.72 $7.94 927,921 shares $7,214,926 @ 24-Oct 10:12:29