Paladin Energy Ltd · ASX:PDN
Paladin Energy — Shareholder Meeting (November 2023)
22 slides from Paladin Energy's shareholder meeting presentation, Nov 15, 2023
Slide 1: Annual General Meeting Presentation
Annual General Meeting Presentation Clean energy. Clear future. 15 November 2023 IAN PURDY CHIEF EXECUTIVE OFFICER
Slide 2: Disclaimer and Competent Person's Statement
Disclaimer and Competent Disclaimer This presentation contains summary information about the Company’s activities current Except for statutory liability which cannot be excluded, the Company, its officers, Person’s Statement as at the date of this presentation. The information in this presentation i
Slide 3: Market Cap, Share Price and Langer Heinrich Mine Returning to Production
Market Cap1 A$2.9B Share price1 A$0.975/share Available Cash2 US$99.8M Index ASX200 Research Coverage Namibia Langer Heinrich Mine Returning to Production 1. As at 14 November 2023 2. As at 30 September 2023 3
Slide 4: Strong demand growth for nuclear energy driven by global decarbonisation
Strong demand growth for nuclear energy driven by global decarbonisation Global reactor fleet set to grow significantly Second largest source of Bipartisan political support 321 global clean energy with proposed reactors in the US & IRA4 tax credits almost zero carbon in for clean energy emissions
Slide 5: Uranium structural supply shortage
Uranium structural supply shortage Western Market (Mlb U3O8 p.a.) 200 Average • Demand is exceeding supply deficit of market expectations ~35Mlb p.a. over 150 the next • Primary supply decade1 shortage • Secondary supplies are shrinking 100 • Window of opportunity for incumbent producers 50 2023 202
Slide 6: Uranium inventory levels are rapidly reducing
Uranium inventory levels are rapidly reducing Secondary Supplies1 90,000 2 Underfeeding Net Utility Inventory Drawdowns Other Russian Supplies 80,000 70,000 • Sustained inventory drawdowns are no longer 60,000 a viable option for utilities Thousand Pounds (U3O8) • Western enrichers to 50,000 switch
Slide 7: Uranium contracting has returned to fundamentals
Uranium contracting has returned to fundamentals • Term contracting has returned to the uranium market, driven by Term Contracting Activity (Mlb U3O8 p.a.) mid-term supply / demand fundamentals • Increased term market activity coincides with vastly reduced “carry- 275 Evaluating/Potential trade” act
Slide 8: Langer Heinrich Mine overview
Langer Heinrich Mine overview 75% owned by Paladin 10 years of production history with over 43Mlb of U3O8 produced and sold Excellent local infrastructure (port, road, rail, water & power) with proximity to the Walvis Bay industrial hub Strong Government and community support for uranium mining in N
Slide 9: Project on track and on budget (~85% complete)
Project on track and on budget (~85% complete) Decision to Long lead Early works All equipment orders Detailed Progression of Senior Operations Introduction of Repairs & restart LHM orders completed completed structural & Repair & Operations workforce stockpile ore Refurbishment completed mechanical
Slide 10: A return to operations is imminent
A return to operations is imminent LHM successfully operated for 10 years providing a straightforward pathway to commercial production Ore feed for Year 1 of operations will come from previously mined stockpiled material (mining expected to commence in Year 2) Plant operations team now in place with
Slide 11: Over 440Mlbs of high-grade mineral resources in key global uranium jurisdictions
Over 440Mlbs of high-grade mineral resources in key global uranium jurisdictions1,2 Paladin Mineral Resources1,2 Total Mass of U3O8 = 445.6Mlb Langer Heinrich Mine2 Michelin3 • Ore Reserves: 84.8Mt at 448 ppm U3O8 for 83.8Mlb • The most uranium prospective tenement holding in a • Mineral Resources (
Slide 12: Canada: Michelin Uranium Project
Canada: Michelin Uranium Project (100% Paladin ownership1) Secured 100% Control Ownership Completed extensive exploration Development pathway • Paladin now holds 100% of the advanced work packages over past 12 months • Workstream commenced to determine Michelin exploration project • Key work program
Slide 13: Paladin's strategy for value creation
Paladin’s strategy for value creation Paladin is on a clear pathway to becoming a globally significant independent uranium producer, helping the transition to a low-carbon global economy 1 2 3 Execute at the Define Development Embed Langer Heinrich Mine and Exploration Potential Sustainable Returns
Slide 14: About Paladin
About Paladin 14
Slide 15: Paladin Board
Paladin Board Cliff Lawrenson Lesley Adams Melissa Holzberger Jon Hronsky OAM Peter Main Joanne Palmer Peter Watson Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Mining executive with d
Slide 16: Paladin Executive Team
Paladin Executive Team Ian Purdy Anna Sudlow Paul Hemburrow Alex Rybak Jess Oram Johan Roux Johan Coetzee Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Commercial Officer General Manager General Manager Project Director Exploration Langer Heinrich Mine Langer Heinrich
Slide 17: Our mission: resourcing a global carbon-free future
Our mission: resourcing a global carbon-free future Nuclear energy is playing a critical role in Emissions Intensity by Energy Source 2 the transition to a decarbonised (g/kWh) economy 820 Today nuclear energy accounts for 47% of carbon-free electricity generation in the US1 and is recognised as a g
Slide 18: Paladin is committed to implementing leading ESG reporting frameworks
Paladin is committed to implementing leading ESG reporting frameworks As Paladin moves towards production, the structured implementation of three reporting frameworks (SASB, GRI and TCFD) and compliance with the IFRS Sustainability Disclosure Standards will increase the level of detail reported and
Slide 19: Mineral Resources and Ore Reserves – Langer Heinrich
Mineral Resources and Ore Reserves – Langer Heinrich Summary Mineral Resources1 Millions of Tonnes Grade U3O8 Grade V2O5 Location Classification (Mt) (ppm) Contained U3O8 (Mlb) (ppm) Contained V2O5 (Mlb) In situ -open pit Measured 79.1 450 78.6 145 25.5 In situ -open pit Indicated 23.5 375 19.5 120
Slide 20: Mineral Resources table – Canadian exploration portfolio
Mineral Resources table – Canadian exploration portfolio Mineral Resources Mt Grade ppm U3O8 Mlb U3O8 (100% basis) Paladin Ownership (%)3 Canada Measured Michelin1 17.6 965 37.6 100 Rainbow2 0.2 920 0.4 100 Indicated Gear2 0.4 770 0.6 100 Inda2 1.2 690 1.8 100 Jacques Lake1 13.0 630 18.0 100 Micheli
Slide 21: Mineral Resources table – Australian exploration portfolio
Mineral Resources table – Australian exploration portfolio Mineral Resources Mt Grade ppm U3O8 Mlb U3O8 (100% basis) Paladin Ownership (%) Australia Measured Valhalla1 16.0 820 28.9 100 2 Indicated Andersons 1.4 1,450 4.6 100 Bikini3 5.8 495 6.3 100 Duke Batman4 0.5 1,370 1.6 100 Odin5 8.2 555 10.0
Slide 22: Investor Enquiries
Investor Enquiries: Paula Raffo paladin@paladinenergy.com.au Level 8 191 St Georges Terrace, WA 6000 +61 8 9423 8100 paladin@paladinenergy.com.au paladinenergy.com.au