Paladin Energy : Appendix 5B - December 2019

Ref 452679v1	Appendix 5B
	Mining exploration entity and oil and gas exploration entity quarterly report
	+Rule 5.5
	Appendix 5B

Mining exploration entity and oil and gas exploration entity

quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity
	PALADIN ENERGY LTD
ABN	Quarter ended ("current quarter")
47 061 681 098	31 December 2019

Consolidated statement of cash flows

Current quarter	Year to date
	(6 months)
US$'000	US$'000

1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a)	exploration and evaluation	(4)	(4)
	(b)	development	-	-
	(c)	uranium purchased	-	-
	(d)	staff costs (excludes direct exploration	(233)	(804)
		and care and maintenance costs)
	(e)	administration and corporate costs	(334)	(1,020)
	(f)	restructure costs	-	-
	(g)	care and maintenance costs (includes
		proceeds from sale of reagents)	(2,825)	(4,095)
	(h)	Langer Heinrich: prefeasibility costs	(1,277)	(3,746)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	147	252
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Research and development refunds	-	-
1.8	Other income (provide details if material)	1,418(1)	1,605(1)
1.9	Net cash from / (used in) operating	(3,108)	(7,812)
	activities

1. Includes proceeds from assignment of North Telfer royalty interest of US$1,357,000.

• See chapter 19 for defined terms

1 September 2016

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Ref 452679v1	Appendix 5B
	Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows

Current quarter	Year to date
	(6 months)
US$'000	US$'000

2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a) property, plant and equipment	(31)	(94)
	(b)	tenements (see item 10)	-	-
	(c)	investments	-	-
	(d)	other non-current assets	-	-
2.2	Proceeds from the disposal of:
	(a) property, plant and equipment	-	-
	(b)	tenements (see item 10)	-	-
	(c)	investments	-	-
	(d)	other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Capitalised exploration and evaluation	(215)	(649)
2.6	Net cash from / (used in) investing	(246)	(743)
	activities

2.5 Capitalised exploration and evaluation written off in quarter.

3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	1,009(2)	21,664
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	-	-
3.4	Transaction costs related to issues of	(2)	(800)
	shares, convertible notes or options
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and	-	-
	borrowings
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financing	1,007	20,864
	activities

1. Proceeds from the Share Placement Plan.

+ See chapter 19 for defined terms
1 September 2016	Page 2

Ref 452679v1	Appendix 5B
	Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows

Current quarter	Year to date
	(6 months)
US$'000	US$'000

4. Net increase / (decrease) in unrestricted cash and cash equivalents for the period

4.1 Unrestricted cash and cash equivalents at

	beginning of period	40,063	25,360
4.2	Net cash from / (used in) operating	(3,108)	(7,812)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(246)	(743)
	(item 2.6 above)
4.4	Net cash from / (used in) financing activities	1,007	20,864
	(item 3.10 above)
4.5	Effect of movement in exchange rates on	-	47
	cash held
4.6	Unrestricted cash and cash equivalents	37,716	37,716
	at end of period

5.	Reconciliation of unrestricted cash	Current quarter	Previous quarter
	and cash equivalents	US$'000	US$'000
	at the end of the quarter (as shown in the
	consolidated statement of cash flows) to the
	related items in the accounts
5.1	Bank balances	3,488	7,040
5.2	Call deposits	34,228	33,023
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Unrestricted cash and cash equivalents	37,716	40,063
	at end of quarter (should equal item 4.6
	above)
6.	Payments to directors of the entity and their associates	Current quarter
			US$'000
6.1	Aggregate amount of payments to these parties included in item 1.2	60
6.2	Aggregate amount of cash flow from loans to these parties included	-
	in item 2.3

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

+ See chapter 19 for defined terms
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Ref 452679v1	Appendix 5B
	Mining exploration entity and oil and gas exploration entity quarterly report

7.	Payments to related entities of the entity and their	Current quarter
	associates	US$'000
7.1	Aggregate amount of payments to these parties included in item 1.2	-
7.2	Aggregate amount of cash flow from loans to these parties included	-
	in item 2.3

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

8.	Financing facilities available	Total facility amount	Amount drawn at
	Add notes as necessary for an	at quarter end	quarter end
	understanding of the position	US$'000	US$'000
8.1	Loan facilities	115,000	115,000
8.2	Credit standby arrangements	-	-
8.3	Other (please specify)	-	-

8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

US$115M 9%/10% payment in kind (PIK) toggle secured notes issued on 25 January 2018 and repayable on 25 January 2023.

9.	Estimated net cash outflow for next quarter	US$'000
9.1	Exploration and evaluation	(188)
9.2	Staff costs (excludes direct exploration and care and	(581)
	maintenance costs)
9.3	Administration and corporate costs	(646)

9.4 Care and maintenance costs (includes proceeds from

sale of reagents)	(1,812)

9.5	Langer Heinrich restart study costs	(22)
9.6	Langer Heinrich restructure costs	(169)
9.6	Total estimated net cash outflow	(3,418)

+ See chapter 19 for defined terms
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Ref 452679v1			Appendix 5B
	Mining exploration entity and oil and gas exploration entity quarterly report
10.	Changes in	Tenement	Nature of interest	Interest at	Interest
	tenements	reference and		beginning	at end of
	(items 2.1(b) and	location		of quarter	quarter
	2.2(b) above)

1. Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced
2. Interests in mining tenements and petroleum tenements acquired or increased

Compliance statement

1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2. This statement gives a true and fair view of the matters disclosed.

Sign here:

(Company Secretary)

Date: 31 January 2020

Print name:

Andrea Betti

Notes

1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

+ See chapter 19 for defined terms
1 September 2016	Page 5