Paladin Energy Limited
(ASX:PDN) may sell a 15 to 20 per cent stake in one of its African uranium projects, according to media reports.
Managing director John Borshoff says the company is reviewing a final group of interested parties and a decision is likely to be made in the next week or two, over which party will be granted exclusivity.
Paladin's larger Langer Heinrich uranium mine in Namibia is thought to be the most likely candidate for the stake sale.
Paladin could get more than $US200 million depending on the size of the stake sold, according to the reports.
The miner plans to use the proceeds to bolster its balance sheet, including paying down some of its $US673 million debt.
Paladin Energy posted a net loss of $215.3 million in the first half of the current financial year.
