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

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