PERTH, WESTERN AUSTRALIA — (Marketwire) — 01/31/13 — Paladin Energy Ltd („Paladin“ or „the Company“) (TSX: PDN)(ASX: PDN) notes that, on 15 August 2012, the Company advised the successful negotiation of a milestone long term off-take uranium sales contract with Electricite de France S.A. (EDF) the largest nuclear utility in the world. Importantly this sales contract requiring product deliveries from 2019 to 2024 included a US$200M prepayment component to be paid in tranches before 31 January 2013. The first tranche of US$50M was paid in September 2012.
Paladin is pleased to announce that, in accordance with the payment schedule agreed with EdF, the final tranche of US$150M has been received.
As advised previously, these funds will be used to repay the balance of the March 2012 convertible bonds (US$134M) with the remainder retained for balance sheet strength as working capital.
ACN 061 681 098
Contacts: Paladin Energy Ltd John Borshoff Managing Director/CEO +61-8-9381-4366 or Mobile: +61-419-912-571
Paladin Energy Ltd Greg Taylor Investor Relations Contact +1 905 337-7673 or Mobile: +1 416-605-5120 (Toronto)
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