I would be very embarrass conducting this presentation in the shoe of the CEO:
Not everything is honky dory. Here are the company words:
Paladin acquisition of LHM working capital facility – Paladin acquired the US$60M LHM working capital facility using some of the funds from the New Notes issue
LHM’s current mining curtailment strategy relies on processing medium grade stockpiled ore. Such stockpiles will be exhausted by mid-2019.
A decision needs to be made at least six months prior as to whether to restart physical mining, process low grade stockpiles or place LHM on care and maintenance.
No more mining, and processing from low grade stockpile only to 2019, and yet C1 graph on page 12 indicates the C1 cost of US $23.11/bls going forward.
The Uranium Spot Price is at a current level of US $ 19.68/bls. The company is losing US$3.43 for each pound they produced. Why bother producing you might ask ?
The only reason they are producing is to meet supply obligation, and it is cheaper to put LHM on care & maintenance due to the start up cost.
Ann: BMO Conference Presentation, page-5
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