nuclear-news

Share price falls as Paladin’s sale of Langer Heinrich uranium mine is delayed

Uranium producer Paladin’s shares slide after stake sale delay BY:BARRY FITZGERALD   The Australian June 27, 2013 SHARES in African uranium producer Paladin have been pulled back to near 52-week lows because of a delay in a planned debt-reducing sale of a minority equity position in the group’s flagship Langer Heinrich operation in Namibia.

It had been hoped that Paladin would make inroads into its $US740 million debt pile by making the sale the news of which pushed the shares from an April low of 70c to more than $1 a share in late May. But recent concerns that the previously advised June 30 target date would not be met have sent the shares lower.

The concerns were well placed, with Paladin saying yesterday that the planned sale had been delayed until mid-to-late August. Paladin shares closed 6c, or 6.8 per cent, lower at 82c.

The fall came despite Paladin managing director John Borshoff remaining confident a sale will be achieved. The planned deal is with two unnamed nuclear groups……http://www.theaustralian.com.au/business/mining-energy/uranium-producer-paladins-shares-slide-after-stake-sale-delay/story-e6frg9df-1226670445221

June 27, 2013 - Posted by Christina Macpherson | business and costs, Namibia