The Kyūshū Electric Power Company provides power to 7 prefectures , and recently, to some parts of Hiroshima Prefecture. The shortened name of 九電 may sometimes be used. As of 2006, the image character was Chisato Moritaka. In 2011 the company was criticised for attempting to deceitfully manipulate public opinion in favor of reactivating two reactors at the Genkai Nuclear Power Plant. Wikipedia.
News Article | November 15, 2016
PERTH, WESTERN AUSTRALIA --(Marketwired - November 15, 2016) - Paladin Energy Ltd ("Paladin" or "the Company") ( : PDN) (TSX: PDN) announces the release of its Unaudited Consolidated Financial Report for the three months ended 30 September 2016. (References below to 2016 and 2015 are to the equivalent three months ended 30 September 2016 and 2015 respectively). The Company's 12 month moving average Lost Time Injury Frequency Rate(5) (LTIFR) increased to 2.5 as compared to 1.8 at the end of the last quarter. The 12 month moving average LTIFR for the previous year was 1.4. The Company achieved 818 Lost Time Injury (LTI) free days at the Kayelekera Mine (KM) for ~1.5 Million man hours. A total of two LTI's were reported during the quarter at the Langer Heinrich Mine (LHM) and at Aurora-Michelin Project. The two LTI's were the result of soft tissue injuries. LHM produced 1.293Mlb U O for the three months ended 30 September 2016, up 19% from the previous year (2015: 1.083Mlb U O ). The unit C1 cash cost of production decreased by 41% to US$16.45/lb from US$27.82/lb in 2015 primarily due to strong operating performance and the impact of the US$168.9M write-down of LHM's ore stockpiles that occurred at 30 June 2016. In compliance with International Financial Reporting Standards (IFRS) all inventory has to be measured at the lower of cost and net realisable value. The LHM mine plan adjustment and the current low uranium spot price resulted in the write-down in accordance with IFRS. The write-down reduced the current medium grade ore stockpiles to zero value, therefore this quarter's C1 cash cost of production no longer includes these historical inventory costs. LHM's C1 cash cost of production for the month of October 2016 was a new record low of US$15.12/lb. Water continued to be treated and discharged successfully during the quarter. Profit and Loss Total sales volume for the quarter was 0.600Mlb U O (2015: 0.800Mlb). Sales revenue for the quarter decreased by 59% from US$36.9M in 2015 to US$15.1M in 2016, as a result of a 45% decrease in realised sales price and a 25% decrease in sales volume. The average realised uranium sales price for the three months ended 30 September 2016 was US$25.19/lb U O (2015: US$46.12/lb U O ), compared to the TradeTech weekly spot price average for the quarter of US$25.33/lb U O . Gross Profit for the quarter decreased by 212% from a gross profit of US$11.3M in 2015 to a gross loss of US$12.6M in 2016 due to a 45% decrease in realised sales price, a 25% decrease in sales volume, and an impairment of inventory of US$12.1M (2015: US$Nil), which was partially offset by a 39% decrease in cost of sales. Impairments of US$12.1M were recognised in 2016 (2015: US$Nil) Impairments comprise of a US$11.4M impairment of LHM ore stockpiles and a US$0.7M impairment of finished goods. A change in the life of mine plan has resulted in a change in the timescale for processing the LHM ore stockpiles. The stockpiles are now forecast to be processed over the next two to three years, which due to the lower forecast prices (compared to forecast prices in future periods when the stockpiles were originally planned to be processed) has resulted in the net realisable value at 30 September 2016 being estimated as US$Nil. Net loss after tax attributable to members of the Parent for the quarter of US$27.8M (2015: Net loss US$16.4M). Underlying EBITDA has deteriorated by US$13.5M for the three months ended 30 September 2016 from a positive underlying EBITDA of US$6.4M for the three months ended 30 September 2015 to a negative underlying EBITDA of US$7.1M for the three months of 30 September 2016. The Group's principal source of liquidity as at 30 September 2016, was cash of US$27.6M (30 June 2016: US$59.2M). Any cash available to be invested is held with Australian banks with a minimum AA- Standard & Poor's credit rating over a range of maturities. Of this, US$25.1M is held in US dollars. Cash outflow from operating activities for the quarter was US$39.4M (2015: outflow US$52.3M), primarily due to payments to suppliers and employees of US$48.0M and net interest paid of US$7.3M, which were partially offset by receipts from customers of US$16.1M. Cash outflow from investing activities for the quarter was US$2.2M (2015: US$4.2M): Cash Inflow from financing activities for the quarter of US$9.6M is attributable to the drawdown of US$20M under the LHM secured Revolving Credit Facility, which was partially offset by a US$10.4M distribution to CNNC by way of repayment of intercompany loans owing by LHM that have been assigned to CNNC. At 30 September 2016, the Group's cash and cash equivalents were US$27.6M, a decrease of US$31.6M from US$59.2M at 30 June 2016, primarily as a result of lower than anticipated sales volumes (due to re- timing of sales) and lower uranium prices, together with higher ore and waste mined and the late payment of VAT refunds that resulted in a reduction of cash flow within the quarter of approximately US$15M. The majority of this is expected to be received in the quarter to 31 December 2016. In June 2016, a US$25.0M 24-month Revolving Credit Facility was implemented at LHM. The purpose is to provide a buffer facility that can be drawn in periods where LHM-level working capital requirements are in deficit, mainly due to the timing of sales receipts. The provider of the Revolving Credit Facility is Nedbank Limited, through its UK registered subsidiary, N.B.S.A. Limited. At 30 September 2016 the Company had drawn US$20M under this facility. The facility is repayable on 9 June 2018 and bears interest at LIBOR plus 5.17%. The documents comprising the Unaudited Consolidated Financial Report for the three months ended 30 September 2016, including Management Discussion and Analysis, Financial Statements and Certifications will be filed with the Company's other documents on Sedar (sedar.com) and on the Company's website (paladinenergy.com.au). The TradeTech U O Spot Price at the 30 September 2016 was US$22.25/lb, approximately 17% lower than at the 30 June 2016 (US$26.80/lb). The TradeTech weekly spot price average for the September quarter was US$25.33/lb, a fall of 8% compared to the June 2016 quarter and a 31% decrease compared to the September 2015 quarter. TradeTech's end-September spot price of US$22.25/lb was the lowest level observed since February 2005. The U O spot price has continued to fall subsequent to the end of the last quarter and is currently at US$18.50/lb. The uranium market continues to see purchasing levels lower than consumption levels implied by nuclear power generation figures (i.e., utilities are running down inventories and term contracting positions). This behaviour is being caused by: utilities perceiving the uranium market is more than adequately supplied for the medium term; and issues of uncertainty in key nuclear power markets, the key one being the USA, where longer-term competitiveness of nuclear has been negatively impacted by low natural gas prices and a lack of consistent regulatory framework to support clean energy. Final contracts for the Hinkley Point C nuclear station were signed in London on 29 September 2016. The contracts, signed between the UK Government, Electricite de France and China General Nuclear, mark the end of the project development phase and moves the project into construction. The station's two EPR plants are scheduled to begin operations in 2025 and will provide approximately 7% of the UK's future electricity needs. Areva subsequently announced it had signed contracts to deliver the two nuclear reactor systems as well as a long-term fuel supply agreement for the plant. Developments in Japan continue to be conflicted. The newly elected governor of the Kagoshima prefecture has advised he will not block the restart of Kyushu Electric Power Co.'s Sendai Units 1 & 2, currently undergoing maintenance and set to restart December 2016. Meanwhile, despite positive progress towards securing lifetime extensions for Takahama 1 & 2 and Mihama 3, Kansai Electric's appeal against an injunction halting operation of Takahama 3 & 4 was rejected at the District court level and must now progress to the Osaka high court. Japan's nuclear regulator has cleared another pair of reactors on the southernmost island of Kyushu. The Nuclear Regulation Authority approved a preliminary report on 9 November 2016 that says Kyushu Electric Power Co.'s Genkai Units 3 and 4 meet post-Fukushima safety rules, one of the biggest hurdles an operator must clear. A 30-day comment period must be held before any final approval. In August the New York Public Service Commission announced the implementation of a Clean Energy Standard requiring that 50% of New York's power should come from clean and renewable sources(including nuclear) by 2030. The Clean Energy Standard will provide subsidies to existing nuclear plants and its announcement was followed by news that Exelon would invest US$200M in upgrading its Ginna and Nine Mile Point reactors within the state as well as complete the purchase of the FitzPatrick station from Entergy. Under Entergy's ownership, the FitzPatrick plant had been slated for closure in January 2017. Following on from the New York developments, Illinois lawmakers have hinted that similar measures could be implemented to save Exelon's Quad Cities and Clinton plants from early closure. Whilst short-term trends are negative, Paladin does not believe U O spot price can stay below US$20/lb for an extended period of time because the average received price by industry suppliers, including taking into account historical term contracts, is rapidly declining. Our internal analysis suggests that average industry- wide received prices could fall by 25-30% within the next 18-24 months if uranium price remains at or below US$20/lb and at in that case supply would rapidly adjust with major mine closures. Paladin believes a uranium industry turnaround is imminent. However, given the current low pricing environment, its current strategies are focused on optimising actions to maximise cash flow whilst also prudently enacting capital management actions. Paladin's strategies are aimed at maximising shareholder value through the uranium price downturn whilst remaining positioned for a future normalisation of the uranium market and price. Key elements of the Company's strategy include: LHM's mine plan has been adjusted, which involves reducing mining material movement combined with processing plant feed coming from stockpiled low and medium grade ores. The revised mine plan effectively shifts higher-grade ore processing into later years when uranium prices are expected to be higher. The FY2017 average feed grade will be reduced into the range of 550ppm to 570ppm vs our previous internal Company budget of 700ppm. The impact of the change will reduce finished U O production by up to 1.0Mlb to 1.5Mlb per year for each of the next two years. However, the requirement for less movement of mined material on site during the period reduces cash operating costs by well in excess of any lost revenue. Using Paladin's internal assumptions the initiative will generate approximately US$40M of cumulative incremental operating cash flow for FY2017 and FY2018. Paladin has obtained the required third-party consents. Taking into account the revised LHM mine plan, key relevant guidance items for FY2017 include: Key relevant guidance items for the quarter to 31 December 2016 include: The previously announced strategic initiatives regarding the potential sale of a 24% interest in LHM for US$175M and sale of an interest in Manyingee project to MGT continue to be progressed. Paladin currently intends to apply any funds received from the strategic initiatives towards repayment of the US$212M outstanding amount of the Convertible Bonds due April 2017. 1 LHM production volumes and unit C1 cost of production include an adjustment to in-circuit inventory relating to leached uranium within process circuit. 2 C1 cost of production = cost of production excluding product distribution costs, sales royalties and depreciation and amortisation before adjustment for impairment. C1 cost, which is non-IFRS information, is a widely used 'industry standard' term. 3 EBITDA = The Company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) represents profit before finance costs, taxation, depreciation and amortisation, impairments, foreign exchange gains/losses, restructure costs and other income. EBITDA, which is non-IFRS information, is a widely used 'industry standard' term. 4 Underlying All-In Cash Expenditure = total cash cost of production plus capital expenditure, KM care & maintenance expenses, corporate costs, exploration costs and debt servicing costs and repayments, excluding one-off restructuring costs. Underlying All-In Cash Expenditure, which is a non-IFRS measure, is widely used in the mining industry as a benchmark to reflect operating performance. The news release includes non-GAAP performance measures: C1 cost of production, EBITDA, non-cash costs as well as other income and expenses. The Company believes that, in addition to the conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company's performance and ability to generate cash flow. The additional information provided herein should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The information in this announcement that relates to minerals exploration and mineral resources is based on information compiled by David Princep BSc, P.Geo FAusIMM (CP) who has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and as a Qualified Person as defined in NI 43-101. Mr Princep is a full-time employee of Paladin Energy Ltd. Mr. Princep consents to the inclusion of the information in this announcement in the form and context in which it appears. Conference Call and Investor Update is scheduled for 07:30 Perth & Hong Kong, Wednesday 16 November 2016; 23:30 London, Tuesday 15 November 2016 and 18:30 Toronto, Tuesday 15 November 2016. Details are included in a separate news release dated 8 November 2016. The documents comprising the Quarterly Results Conference Call and Investor Update will be filed with the Company's other documents on Sedar (sedar.com) and on the Company's website (paladinenergy.com.au).
Nainggolan J.M.,University of Miyazaki |
Sakoda T.,University of Miyazaki |
Hayashi N.,University of Miyazaki |
Kurihara S.,Kyushu Electric Power Co. |
And 3 more authors.
European Journal of Scientific Research | Year: 2011
Acoustic emission (AE) sensor was used for detection of electric discharges and diagnosing a joint section of T-branch cross-linked polyethylene (XLPE) cable for 22 kV distribution system. From the head of cable joint, three AE sensors were arranged at the cable surface clockwise at 1200 to each other, and each sensor connected to an amplifier unit. Three AE sensors were used to generate three-dimensional calculation. A high voltage electrode was inserted into the joint section of cable, and then high voltage was applied to generate partial discharge (PD). PD current was detected by a Rogowski coil. The AE signal from the amplifier unit was sent to a digital oscilloscope and recorded in a personal computer for further analyses using LabVIEW. The correlation between AE signal and PD current was clarified. The increase of AE signal has the same linear tendency with increasing PD current. Thereafter, estimated three-dimensional PD locations were found around the head part of joint section of XLPE cable. © EuroJournals Publishing, Inc. 2011.
Oka T.,Niigata University |
Seki H.,Niigata University |
Kimura T.,Niigata University |
Mimura D.,Niigata University |
And 8 more authors.
Physica C: Superconductivity and its Applications | Year: 2011
A magnetic separation study for groundwater purification has been practically conducted by using the multi-pole magnet system. The magnetic pole was composed of 10 open magnetic spaces by arranging five HTS melt-processed bulk magnets in a line in a vacuum sheath. The individual bulk magnets were activated by feeding intense pulsed magnetic fields up to 6 T. The magnetic field distribution was estimated with respect to various pole arrangements. The actual groundwater samples of Sanjo City were processed so as to form large precipitates by adding the coagulant and pH controlling. The maximum separation ratio of the iron-bearing precipitates has exceeded over 70% when slurry water was exposed to 10 magnetic poles of up to 2.5 T at a flowing rate of less than 4.8 l/min. An obvious attraction of flocks to the magnetic poles was observed even when the water contains no magnetite powder at the flow rate of 1.01 l/min. This implies the validity of the multi-pole magnet system with respect to the actual application to water purification. © 2011 Elsevier B.V. All rights reserved.
Chen B.,Southwest University |
Mokume M.,Kyushu Electric Power Co. |
Liu C.,Kyushu University |
Hayashi K.,Kyushu University
IEEE Sensors Journal | Year: 2016
Gas sensing characteristics of Au nanoparticles (AuNPs)/3-hexylthiophene-2, 5-diyl (P3HT) composite based on photocurrent detection under different irradiation wavelengths were investigated. AuNPs with different structures were prepared either by the vacuum sputtering/annealing method or by the wet chemical synthesis based on seed growth. AuNPs/P3HT composites were prepared by the dip coating method. The optical features of P3HT and Au nanostructure/P3HT composite were investigated. The optical absorption increase of AuNPs film was observed after P3HT coating, which was attributed to the interaction between the P3HT and the Au nano-islands. New shoulder peaks and the phenomenon of one spectral peak splitting into two were observed in the absorption spectra of the composite film, which confirmed the interaction between the AuNPs and the P3HT further. The photoconductivity characteristics of the P3HT and AuNPs with spectral peak position at 580-nm (AuNPs580)/P3HT composite films were investigated utilizing LED light source with different dominate wavelengths. The wavelength-dependent photocurrent change ratio I/I0 of both the P3HT and the AuNPs580/P3HT composite films was observed. The maximum I/I0 of the P3HT and AuNPs580 composite films emerged under LED irradiation with a dominate wavelength 590 nm, which was mainly ascribed to the antenna effect from the Au nano-islands, the carrier injection from nanostucture to P3HT, localized surface plasmon resonance coupling among Au nanostructures, and plasmon coupling between the Au nano-islands and the P3HT molecules. The response of Au nano-island/P3HT composite to ethanol vapor showed that the response and recovery time was shorter than 2 s. Furthermore, gas sensing characteristics were verified to be irradiation wavelength dependent. Irradiation light source with a dominate wavelength 590 nm produced the largest I/I0 1.07. © 2001-2012 IEEE.