Antinuclear

Australian uranium miner Paladin questioned by Australian Securities Exchange

Paladin cops ASX query over deals The West Australian on July 22, 2016, Paladin Energy has been forced to halt trading of its shares after a query from the Australian Securities Exchange demanding more information about $US200 million worth of deals flagged to the market yesterday.

Paladin did not outline the additional information requested by the ASX, but yesterday’s announcement was notable in that it did not give the name of the party offering to pay $US175 million for 24 per cent of its Langer Heinrich uranium mine in Namibia.

Paladin said yesterday the agreement was non-binding and that “key terms of this proposed transaction remain confidential, including the identity of the counterparty”.

Paladin promised yesterday to disclose details as the deal firmed up, including the identity of the buyer.

But the ASX has been on the warpath over non-disclosure of counterparties to major funding deals since the Padbury Mining scandal in 2014, when shares in the market tiddler surged after it said funding had been “secured” from an unnamed party that would supposedly deliver $US6.5 billion to build the Oakajee port and rail project…….Paladin shares closed down 3.5¢ to 20.5¢ on the announcement yesterday.  https://au.news.yahoo.com/thewest/wa/a/32125776/paladin-cops-asx-query-over-deals/#page1

July 23, 2016 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, uranium