Paladin Energy has completed the bookbuild for a fully underwritten A$525 million equity raising to support Canadian uranium development and exploration.
The 13 November exchange announcement comprises an approximately A$499 million Australian institutional placement and a C$25 million Canadian bought deal, equivalent to about A$26 million. These figures are before costs.
Settlement is expected on 18 November. Completion of the bookbuild therefore does not mean all proceeds have already settled.
Paladin intends to fund continued development of Patterson Lake South, potential resource and mine-life growth at Triple R, and exploration across its Athabasca Basin portfolio. The company continues to target first production at Patterson Lake South in 2031.
A separate, non-underwritten shareholder purchase plan aims to raise up to another A$50 million. That prospective amount is additional to the institutional raising.
Explore Paladin Energy’s employer profile and mining jobs.
Source: Original Paladin exchange announcement.
Illustrative regional uranium-industry file photograph: McArthur River mine, Saskatchewan, Canada, 7 July 2005; not Paladin’s Patterson Lake South project. Turgan / Wikimedia Commons, CC BY-SA 3.0. Resized and compressed; same licence retained.
By Energy People.
