All Ordinaries Shares News Paladin Energy (PDN)

Paladin Energy (PDN) is a uranium miner, with projects located in Africa and Australia.

PDN's long-term goal is to establish itself as a uranium producer through identifying, acquiring and evaluating advanced uranium projects.

The group's current focus is on its African projects: Langer Heinrich (Namibia) and Kayelekera (Malawi).

PDN shares have slumped in the few months since the Japanese nuclear crisis and the company last week released a reassuring statement aimed at stopping the share price rot.

PDN says its financing facilities are in good standing and clarified that it currently has no plans to raise fresh capita – debt or equity – outside of the financing of its stage 3 expansion of its Langer Heinrich project .

The uranium miner says the feasibility study on its stage 4 expansion is proceeding as schedule and the company is expecting a positive outcome.

PDN also said that key shareholder Newmont Mining (one of the world’s largest gold miners) has indicated it will hang onto its 6.71% stake in PDN in the near-term and that the company has mechanisms in place if Newmont decided to sell out.

Click for Daily Shares Advice