Paladin Energy was the darling of the last boom & bust uranium cycle. Many promoters and brokers point back to the highs that Paladin achieved as example of where their uranium stories will go. Purdy reminds us that only 2 companies actually got in to production in that cycle, despite there being c.500 'uranium' companies. We hope investors do their homework and look at the uranium macro and the business fundamentals for their uranium investments.

Purdy joined Paladin in Feb 2020, and has been focused on getting Paladin ready to bring Langer Heinrich back into production, having gone into care & maintenance in 2018 when prices fell to unsustainable prices. We discuss the price that they need to make the decision to bring back into production. Purdy seems to agree with most CEO that contracts need to be +$50, ideally +$60. Paladin is focused on Langer Heinrich and engaging with utility market. It will produce 6Mlbs during its mining phase of 7yrs, and then working their way through the lower-grade lower-volumes stockpile. We talk about exploration and also the other assets in Australia and Canada. The indication is that these are not core and no money will be spent developing these. The CNNC relationship comes into scrutiny in the market so we look at the implications of how this 25% shareholder actions affect future decisions.

Company page: https://www.paladinenergy.com.au/

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