THis is from an article I came across:

Of interest was this part of the report:

"One company I was concerned about was Paladin Energy Ltd. (PDN:TSX; PDN:ASX). I told my readers that they should be very careful. It has some great assets and a long-term supply contract with one of the French utilities, but it's experienced some problems turning a profit. So going back to acquisitions, it might make sense for a big mining company to take over Paladin. It has a lot of debt. It's a $712 million ($712M) market value with $830M in debt. In addition, the company has $125M of convertible bonds coming due in two months, which will lead to converting up to 147M shares. That's a big dilution. This might be something for readers to look at down the road after these bonds convert. If the share price sinks below a significant point where the dilution's not going to hurt quite as badly, that could be a possibility. It may be that Paladin is worth a flyer for its assets after the dilution happens."

The convertible bond now has been paid so there is still major debt.