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The one for 8.5 pro-rata accelerated non-renounceable entitlement offer and institutional placement is raising $218.7 million is priced at 37c per share, with Canaccord and Shaw and Partners involved.
Post-raising Paladin's net cash position will be about US$30 million.
Paladin believes that'll be enough to see the company through to a re-start decision at its Langer Heinrich project in Namibia.
Cost estimates for the re-start have been put at $81 million, of which $47 million is seen as "discretionary capital … to maximise plant reliability and run time".
Paladin has outlined a 17-year production period for Langer Heinrich, with peak output of 5.9 million pounds per annum for seven years.
Cash costs over the 17 years are expected to average $27/lb.
Langer Heinrich closed in 2018 after suffering years of low uranium pricing.
Shares in Paladin were trading at A46c prior to a trading halt being called for the equity raising.
At that price the company was capitalised at $963 million.
The stock's low for the past 12 months was 3.5c.
