The black swan event is coming $$$$$$$, page-2

Well-funded following recapitalisation

Paladin has raised US$115 million through the issue of new notes and has extinguished all of its existing debt obligations pursuant to the restructure.
The company is in a position to meet its financial obligations for the next 12 months without having to raise any additional capital.
Opportunity to enhance operating margins

Paladin has an industry-leading position in being able to introduce optimisation projects that enhance its operating margins.
Its bicarbonate recovery plant (BRP) has reduced C1 cash costs by US$5-6 per pound since its implementation in FY2015 and FY2016.
Furthermore, additional savings are potentially available through the introduction of the backend upgrade and the U-pgrade™ process.
Leveraged to uranium price upside

Paladin has unique leverage to uranium price upside.
It is generally more exposed to spot prices as opposed to fixed contract prices than its peers.
Furthermore, Paladin can also quickly bring on an additional 3-4 million pounds of annual production through unwinding of the mining curtailment at LHM and a restart of its Malawi mine on care and maintenance.