Paladin Energy Ltd: Update on Sale of Minority Interest in Langer Heinrich
December 2, 2013 (Source: Marketwired) — Paladin Energy Ltd (TSX:PDN)(ASX:PDN) (“Paladin” or the “Company”) notes that, as previously advised, for several months the Company has been in ongoing discussions with a number of parties interested in acquiring a minority interest in the Langer Heinrich uranium mining operation in Namibia. In its September Quarterly Financial Report and MD&A released 14 November 2013, Paladin advised it would provide an update on the status of negotiations by the end of November.
We are pleased to advise that the strong interest shown in participating alongside Paladin for a joint venture position in Langer Heinrich continues. Interested parties have had access to an updated data room established for the purposes of this process and site access has been made available to selected interested parties with these visits now largely complete.
Discussions relating to commercial terms have commenced and Paladin management will make a recommendation on its preferred partner to the Paladin Board at the conclusion of these negotiations.
Paladin intends to maintain engagement with all interested parties involved in the process until final approval from the successful party is received and all legal documentation is complete. We are encouraged by the progress to date.
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