Paladin Energy Ltd
TSX : PDN
ASX : PDN

Paladin Energy Ltd

March 16, 2011 09:23 ET

Paladin Energy Ltd-Statement on Japan Nuclear Situation and Conference Call Notice

PERTH, WESTERN AUSTRALIA--(Marketwire - March 16, 2011) - Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") expresses its deepest condolences to the people of Japan following the tragic events of Friday 11 March 2011. "We are very saddened by the catastrophic events and extreme loss of life following the dual natural disasters of an earthquake and tsunami", stated John Borshoff, Managing Director/CEO of Paladin. "We are encouraged that Fukushima plant managers are making public safety their highest priority and although the situation remains of grave concern it seems to be progressing slowly towards stabilisation of the damaged reactors".

Paladin has had numerous queries regarding its business with Japan and the impact of recent events. While the Company endeavours to work with all participants in the nuclear sector and is developing a regional diversified sales portfolio, it does not currently have a commercial relationship with Japanese utilities. Paladin has a strong balance sheet with US$251.8M in cash as of 31 December 2010; is on track to produce 6Mlb to 6.3Mlb U3O8 in FY 2011; and commissioning of Langer Heinrich Mine Stage 3 expansion to 5.2Mlb U3O8 will occur in April giving the Company an installed capacity to provide 8.5Mlb U3O8 pa. 

Paladin continues to believe that the medium and long-term outlook for nuclear power remains positive and that recent events could further exacerbate the supply situation, ironically putting Paladin in an even better position with respect to global demand. There are more than 440 nuclear reactors operating safely around the world and growth of the fleet is assured with the 62 reactors currently under construction, with further expansion forecast from the emerging nuclear economies.

Paladin will hold a conference call regarding the Japanese nuclear situation on Thursday 17 March details below.

Paladin Energy Ltd
Investor Conference Call and Update – March 16/17 2011
     
Date: 17 March 2011   Time: 07:00 Perth
 
PLEASE CHECK THE WORLD CLOCK TO CONFIRM THE DATE AND START TIME FOR YOUR LOCAL TIME ZONE.
 
Toronto: 16 March 2011, 19:00 hrs / London: 16 March 2011, 23:00 hrs / Hong Kong: 17 March 2011, 07:00 hrs

LIVE - Conference Call

(TSX:PDN)(ASX:PDN) Paladin Energy Ltd ("Company") announces that the Company will hold a telephone conference at 07:00 Perth and 07:00 Hong Kong on 17 March 2011 and 18:00 Toronto and 23:00 London on 16 March 2011, to give an update on the Company.

Questions will be taken at the briefing's conclusion - Dial in numbers for the conference call are as follows:

  Australia 1800 148 258
  Belgium 0800 715 72
  Canada 1866 837 4489
  China North 1080 0611 0127
  China South 1080 0361 0079
  France 0800 908 221
  Germany 0800 181 4827
  Hong Kong 800 965 808
  India 0008 00100 7048
  Indonesia 0018 0306 12145
  Ireland 1800 720 011
  Italy 800 788 772
  Japan 0044 2206 2118
  Johannesburg +61 2 8524 6650
  Malawi +61 2 8524 6650
  Malaysia 1800 180 708
  Namibia +61 2 8524 6650
  Netherlands 0800 0229 451
  New Zealand 0800 667 018
  Norway 800 10112
  Philippines 1800 1612 0005
  Singapore 800 616 2170
  South Korea 0079 8612 1097
  Sweden 0207 99376
  Switzerland 0800 561 529
  Taiwan 0080 1232 398
  Thailand 0018 0061 21124
  United Kingdom 0800 056 9662
  United States of America 1866 586 2813
  International +61 2 8524 6650
     
  CONFERENCE ID: 52772382 (This must be quoted)

You are encouraged to dial in approximately 5-10 minutes prior to the commencement of the briefing.

ARCHIVE - Audio Webcast

The briefing will be available approximately 2-4 hours after the live event on our website – paladinenergy.com.au.

ACN 061 681 098

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