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Langer Heinrich’s estimated US$6.2 million prefeasibility study approved by Paladin Board

Langer Heinrich’s estimated US$6.2 million prefeasibility study approved by Paladin Board

Australian uranium production company, Paladin Energy, Tuesday announced it will commence a Prefeasibility Study(PFS) for the restart of the Langer Heinrich uranium mine after a concept study completed by the company identified multiple options to reduce operating costs, improve uranium process reliability and potentially recover a saleable vanadium product.

The study is expected to cost US$6.2 million and will be funded from existing cash resources, the company said in a statement on their website.

According to Paladin the concept study commenced in September last year and was completed on schedule this month. The study generated a conceptual plan that puts Paladin in a strong position to restart Langer Heinrich where there is a sustained recovery in uranium prices.

Paladin said the concept study verified that the initial; capital funding requirements for a restart are expected to be relatively low, approx. US$100 million, including capital for plant repair and improvement of US$24 million, tailing facility construction of US4.4 million, Back-End Upgrade execution of US$22 million and working capital of US$50 million.

The remaining plant optimisation capital is expected to be funded from operating cash flows following a ramp up to full production, the company added.

Paladin said the PFS is the next step in further refining and verifying Langer Heinrich’s restart plan and a comprehensive PFS plan has now been approved by the board.

According to the statement the PFS will focus on improvements to ensure the restart maximises value, will improve mineral resource definition through additional drilling of the highest-grade remaining resource and develop and confirm processing and operational improvement options, to reduce operating cost and improve operability.

Paladin Chief Executive Officer, Scott Sullivan said the study would also examine Langer Heinrich’s capacity to produce saleable vanadium product as a way of increasing the projects long term value.

The study is to be completed in two stages, with the examination of a rapid, low risk restart for Langer Heinrich to be completed in Q1 FY20 and a more detailed study for process up grades to be completed inQ3 FY20.

Paladin placed Langer Heinrich under care and maintenance in May 2018 due to the sustained low uranium spot price and successfully transitioned the mine to full care and maintenance in August 2018.


 

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.