Paladin Energy Limited
(ASX:PDN) will pay approximately $15.8 million for the Carley Bore Uranium project in WA’s Carnarvon Basin.
Paladin will pay Energia Minerals Limited
(ASX:EMX) $1.6 million in cash and 45 million shares in Paladin for the deposit. The sale will allow Energia to advance goals of zinc production at its Gorno project in Northern Italy.
Paladin has recently been narrowing its losses despite a downturn in sales volume and prices. The uranium industry has suffered hugely in the wake of the Fukushima nuclear disaster in Japan.
Paladin Energy reported net loss of $81.9 million for the first six months of the 2015 financial year.
