Paladin Announces A$300 Million Fully Underwritten Equity Raising to Advance the PLS Project

Core Viewpoint - Paladin Energy Ltd has announced a fully underwritten equity raising totaling A$300 million to advance the Patterson Lake South project towards a Final Investment Decision (FID) [1][2][3] Group 1: Equity Raising Details - The equity raising consists of three components: an ASX institutional placement of A$231 million, a TSX bought deal private placement of C$30 million (~A$33 million), and a Treasury Share Sale of approximately A$36 million [1][3][10] - Eligible shareholders will have the opportunity to participate in a non-underwritten Share Purchase Plan (SPP) to raise up to A$20 million at the same price as the ASX Placement and Treasury Share Sale [2][13] - The Offer Price for the new Shares is set at A$7.25, representing an 8.0% discount to the last close of A$7.88 on the ASX [3][12] Group 2: Use of Proceeds - Proceeds from the equity raising will primarily be used for the completion of the Front-End Engineering and Design (FEED) work for the PLS Project, detailed design work, early site works, and general administration costs [2][3][6] - Funds will also support infill and exploration drilling at the PLS Project and the Langer Heinrich Mine (LHM), as well as provide balance sheet flexibility for further exploration [3][6] Group 3: Project Development and Market Outlook - The PLS Project is recognized as a world-class uranium development asset with strong technical fundamentals and compelling economics, positioning the company to capitalize on the positive outlook for the uranium market [5][6] - The company aims for the first uranium production from the PLS Project by 2031, with the ramp-up of operations at the LHM expected to be completed by the end of FY2026 [6][5]