Paladin Energy raises $419 million

Posted by webmaster in Paladin, Uranium Acquistions, Uranium News, Uranium Stocks on 09 15th, 2009 | no responses

On September 10th Paladin Energy raised $419 million. Theses additional funds are earmarked for acquisitions and further exploration.

Paladin raised the money via a institutional private placement of 93.45 million shares, priced at $4.60 AU. This represented a 6.1% discount vs closing share prices earlier on September 9th.

The company looks to use the new funds to advance exploration and possibly to fund acquisitions.

The North American markets haven’t reacted to this move with much fervour. Outside of September 8th pink sheet Paladin share volume has remained at average levels.

Quote from chief executive John Borshoff

“Paladin believes that with its balance sheet strength and development expertise, the company is well placed to partner both junior uranium companies and downstream companies seeking to commercialize uranium opportunities.”