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Paladin Energy: Final Tranche of US$150M Received Long Term Off-Take Contract With A US$200M Prepayment


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© Marketwire 2013
2013-01-31 14:24:35 -

PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 01/31/13 -- Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) notes that, on 15 August 2012, the Company advised the successful negotiation of a milestone long term off-take uranium sales contract with Electricite de France S.A. (EDF) the largest nuclear utility in the world. Importantly this sales contract requiring product deliveries from 2019 to 2024 included a US$200M prepayment component to be paid in tranches before 31 January 2013. The first tranche of US$50M was paid in September 2012.



Paladin is pleased to announce that, in accordance with the payment schedule agreed with EdF, the final tranche of US$150M has been received.


As advised previously, these funds will be used to repay the balance of the March 2012 convertible bonds (US$134M) with the remainder retained for balance sheet strength as working capital.


ACN 061 681 098



Contacts:

Paladin Energy Ltd

John Borshoff

Managing Director/CEO

+61-8-9381-4366 or Mobile: +61-419-912-571
john.borshoff@paladinenergy.com.au :


Paladin Energy Ltd

Greg Taylor

Investor Relations Contact

+1 905 337-7673 or Mobile: +1 416-605-5120 (Toronto)
greg.taylor@paladinenergy.com.au :

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