Paladin Energy mine sale delayed

Company News

by Jessica Ellerm

Paladin Energy Limited (ASX:PDN) has updated the market regarding two previously announced strategic initiatives.

The company had been looking to sell its respective stakes in the Langer Heinrich Mine and the Manyingee project.

The sale of Paladin’s 24 percent interest in Langer Heinrich to CNNC Overseas Uranium Holdings has been delayed, with the transaction unlikely to close by the end of the year.

The sale of the business’s 75 percent interest in Manyingee to MGT Resources is now expected to close in Q1 or Q2 of the 2017 calendar year.

Paladin Energy Limited reported a net loss of $194.5 million at 30 June 2016

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.