Paladin, EDF Continuernto Negotiate Loan Repayment

摘要

Perth-based Paladin Energy isrncontinuing to negotiate withrnÉlectricité de France (EDF) in hopes ofrnconvincing the French utility to agreernto terms of a standstill of Paladin'srnpayment obligation.rnAs previously announced, Paladinrnproposed additional security andrnPaladin and EDF appointed anrnindependent expert to decide onrnwhether the value of the additionalrnsecurity offered by Paladin wasrnsufficient. The expert delivered its finalrnreport on June 12, and confirmed therninitial feedback (announced onrnMay 16) that the value of the additionalrnsecurity is insufficient. Therefore,rnunder the terms of the Long-TermrnSupply Contract, the outstandingrnamount of approximatelyrnUS$277 million must now be repaidrnwithin 30 days unless EDF agrees torna standstill.