Paladin Energy Ltd.

Paladin Energy Ltd.

Paladin Energy Ltd.

Overview
Date Founded

1993

Headquarters

502 Hay Street, Level 4, Subiaco, WA, 6008, AUS

Type of Company

Public

Employees (Worldwide)

867

Industries

Other Raw Materials
Non-Energy Mining & Minerals

Company Description

Paladin is listed on the Australian Securities Exchange, Toronto Stock Exchange and Namibian Stock Exchange under the symbol PDN. The Company also trades on the Munich, Berlin, Stuttgart, and Frankfurt Exchanges under the symbol PUR. Paladin is a uranium production company with projects currently in Australia and two operating mines in Africa with a strategy to become a major uranium mining house. Since 1998, during a period of sustained downturn in global uranium markets, Paladin accumulated a quality portfolio of advanced uranium projects each having production potential. The Langer Heinrich Mine in Namibia is Paladin’s flagship project. Having reached its initial production of 2.7Mlb U3O8 per annum in 2008, the mine completed its Stage 2 ramp-up to 3.7Mlb per annum in the 2010 financial year. Subsequently, the Company has completed a Stage 3 expansion and is now producing at a 5.2Mlb per annum rate. The Kayelekera Mine in Malawi, the Company’s second mine, provides an excellent follow-up to Langer Heinrich. A Development Agreement with the Government of Malawi was executed in February 2007, which provides fiscal stability for the project for ten years. KM was officially opened in April 2009 and is now operating at design production rates of 3.3Mlb U3O8. Project life is expected to run for at least an additional 8 years with exploration underway to identify feedstocks to extend the current project life. Paladin also holds an 82.08% interest in Summit Resources Limited (ASX Code:SMM)

Executives & Employees

Chief Executive Officer

Chief Financial Officer

General Manager-Technical Project Development

General Manager-Sustainable Development

Group Company Secretary

Co-Secretary

Investor Relations Contact

Board of Directors

Former Director at Tian An Australia Ltd.

Managing Director at MetalsTech Ltd.

Joint Secretary & Non-Executive Director at East Energy Resources Ltd.

Principal at Tembo Capital Management Ltd.

Technical Director at Australian Vanadium Ltd.

Former Professional at Tembo Capital LLP

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Owners & Shareholders
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Paradice is an active, medium- to long-term manager which employs a bottom-up approach including qualitative and quantitative analyses to invest in small, mid, large and global equities. They invest globally but have a focus on Australia.The firm aims to buy shares which they believe are underpriced and expect to grow at rates greater than the market, favoring well-managed, good value companies that have significant growth opportunities due to competetive advantage.Paradice's company visitation program utilizes proven valuation techniques and models including Price to Earnings, yield, free cashflow, discounted cashflow, EBIT, sales margin, revenue and profit growth half by half, enterprise valuation multiple, interest coverage, return on assets, return on equity and return on incremental capital employed.In addition, they assess potential companies' financial statements, the industry in which they operate, their market position, comparative advantage, business strategy, operating systems, the quality of their Board and management and whether the key drivers of the business are sustainable.

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BlueBay AM is an active investor with a primary focus on fixed-income credit. They specialize in absolute return strategies and manage portfolios focused on high-yield corporate debt, investment-grade debt and emerging markets debt through three main strategies: long-only funds, long/short funds and structured products.The firm's investment process combines top-down macroeconomic research and bottom-up microeconomic research. Their macroeconomic analysts assess general credit market conditions while their microeconomic analysts focus on fundamental and technical issue/issuer research.The firm uses credit derivatives in order to maximize alpha generation while minimizing market risk.

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Coliseum Capital Management (CCM) focuses primarily on sponsoring and providing advice to private investment partnerships that principally make longer-term investments in both public and private companies. The firm provides investment advisory services to Coliseum Capital Partners LP (CCP), Coliseum Capital Partners II LP (CCP II), Coliseum Capital Co-Invest LP (CCC), and Coliseum Co-Invest Debt Fund LP (COC). The general partner of the Funds is Coliseum Capital LLC.CCP and CCP II invest and trade in securities, consisting principally, but not solely, of private and public securities that are issued by smaller capitalization companies operating in US and Canadian markets. CCM may also invest a portion of CCP and CCP II assets in illiquid securities that are restricted from transfer, which generally are restricted securities of public and private companies. CCC is a co-investment vehicle that invests alongside CCP in a concentrated number of securities issued by publicly-traded companies in which a manager of the General Partner serves on the Board of Directors (the “CCC Portfolio Companies”). CCC only invests in securities of CCC Portfolio Companies in which CCP has invested or is also investing.COC is a co-investment vehicle that invests alongside CCP primarily in debt instruments of publicly-traded and private companies (“COC Portfolio Companies”). COC may also in certain circumstances hold equity securities of COC Portfolio Companies in the form of reorganized equity issued in exchange for debt, as an “equity kicker” or as part of a follow-on investment. CCM makes long-term investments in both public and private companies. The firm's investment approach is designed to identify undervalued or under-utilized assets and stress signals, etc. Their methods incorporate metric that range from cash flow yields, comparable leverage valuation to announced defaults, historical returns on invested capital and more. On behalf of their clients, CCM may make investments at every level of the capital structure, in both liquid and illiquid, and public and private securities. They expect generally to hold only 8 to 12 core positions.

Recent Transactions
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Uranium Africa Ltd. purchases Paladin Energy Ltd /Non-Core Australian Exploration Assets from Paladin Energy Ltd.

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China Uranium Corp., China National Nuclear Co. Ltd. purchase Langer Heinrich Uranium Pty Ltd. from Paladin Energy Ltd.

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UBS AG, UBS Australia Pty Ltd. purchase Paladin Energy Ltd. from Newmont Mining Corporation

Transaction Advisors
Investment Advisor

Advised onPaladin Energy Ltd. purchases Summit Resources Ltd.

Legal Advisor

Advised onPaladin Energy Ltd. purchases Summit Resources Ltd.

Legal Advisor

Advised onPaladin Energy Ltd. purchases NGM Resources Pty Ltd.

Advisors & Consultants
Advisor

Chief Executive Officer & Managing Director at Deep Yellow Ltd.

Advisor

Partner, Advisory Restructuring Services at KPMG Australia Pty Ltd.

Advisor

Partner at KPMG Australia Pty Ltd.

Key Stats and Financials As of 2017
Market Capitalization
$300M
Total Enterprise Value
$666M
Earnings Per Share
$-0.35
Revenue
$127M
Net Profit
$-608M
EBITDA
$-42.5M
EBITDAMargin
-33.46%
Total Debt
$737M
Total Equity
$-691M
Enterprise Value Sales
5.24x
TEVNet Income
-1.1x
Debt TEV
1.11x
Three Year Compounded Annual Growth Rate Of Revenue
-29.2%
Five Year Compounded Annual Growth Rate Of Revenue
-18.43%
Suppliers
Government of Namibia Government | Windhoek, KH

Competitors
Cameco Corporation Other Raw Materials - Saskatoon, SK

Cameo, headquartered in Chennai, India, is an established Business Process Outsourcing (BPO) service provider, providing services to a wide range of clients. Its main businesses are in the areas of Document Management, Medical Transcription, Data Conversion and Registry & Share Transfer. It has a wide geographical presence in India & US, employing over 1,100 employees. It serves over 350 clients, amongst whom are some of the largest and finest, listed companies in the country. Cameo has an extremely successful track record in being able to manage and process large volumes of transactions for its clients in a time bound manner.

Rio Tinto Ltd. Non-Energy Mining & Minerals - Melbourne, VI

Rio Tinto Ltd. engages in finding, mining, and processing of mineral resources. It operates through the following segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations.The Copper and Diamonds segment produces gold, silver, molybdenum, and by-products. The Energy and Minerals segment offers uranium, borates, salt and titanium dioxide feedstock together with coal operations. The company was founded on December 17, 1959 and is headquartered in Melbourne, Australia.

Rio Tinto Plc Non-Energy Mining & Minerals - London, GL

Rio Tinto Plc is engaged in the business of exploring, mining and processing of mineral resources. It operates through five product groups: Aluminium, Copper, Diamonds and Minerals, Energy and Iron Ore. The Aluminium product group produces bauxite, alumina and primary aluminum production. The Copper product group produces copper, with valuable by products of gold, molybdenum, silver and nickel. The Diamonds & Minerals product group is engaged in mining, refining and marketing operations across three sectors. The Energy product group includes thermal coal, coking coal and uranium. The Iron ore product group supplies the global seaborne iron ore trade. Rio Tinto was founded on March 30, 1962 and is headquartered in London, the United Kingdom.