PERTH, WESTERN AUSTRALIA --(Marketwired - January 26, 2017) - Paladin Energy Ltd. (Paladin or the Company) (ASX: PDN) (TSX: PDN) notes the substantial increase in its share price today and higher than average share trading volume. However, the Company advises there is no pending announcement and it is not aware of any Company-specific information that has not been announced which if known could be an explanation for recent trading in the securities of the Company.
Paladin does note, that uranium market conditions continue to improve and uranium spot price was quoted by brokers overnight at around US$24 per pound (ie, up approximately a further seven percent from levels of last week and 39% higher than its recent low in mid-December).
The Company continues to pursue the Restructure Proposal as announced on 10 January 2017 and is working towards issuing a notice of meeting as early as next week to convene a meeting of bondholders to seek their formal approval. However, Paladin wishes to point out that the Restructure Proposal remains highly conditional and in the absence of alternatives (eg, LHM Stake Sale) its failure could have grave consequences.
The above has been authorised and approved in accordance with the Company's published continuous disclosure policy or otherwise by its board or an officer of the Company with delegated authority from the board to report to ASX or TSX on disclosure matters.
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