| Paladin Energy Ltd: Sale of Shareholding by Newmont Mining Corporation | |
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PERTH, WESTERN AUSTRALIA--(Marketwired - Mar 12, 2014) - Paladin Energy Ltd (PDN.TO) (PDN.AX) ("Paladin" or the "Company") notes that Newmont Mining Corporation announced on March 11 that it has sold its 5.4% shareholding in Paladin through a book-build process. The sale has been underwritten by an investment bank at a fixed price of $0.525 per share and Paladin has been informed the sale was made to a broad range of institutional investors. From Newmont's announcement: "The sale of Paladin will generate over $24 million in cash and reflects Newmont's ongoing strategy to divest non-core assets, some of which are included in the Company's marketable securities portfolio," said Randy Engel, Executive Vice President of Strategic Development. "Newmont will continue to evaluate its holdings and may, from time to time, divest other equity positions and assets under favorable conditions and terms," Engel added. Newmont acquired the shareholding through its acquisition of Fronteer Gold in 2011, which had previously sold the Aurora uranium assets to Paladin. Paladin understands the sale is consistent with Newmont's strategy of divesting non-core assets to align its investment interests with its global gold production business. Paladin Managing Director/CEO John Borshoff stated: "We are pleased with the result of the successful sale by Newmont and the additional stability it brings to the Paladin shareholder register. We are happy to welcome a number of new, high quality Australian and international investors to Paladin as a result of the transaction." ACN 061 681 098
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Paladin Energy Limited
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PRODUCER |
CODE : PDN.AX |
ISIN : AU000000PDN8 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Paladin Energy Ltd is a gold and copper development stage company based in Australia. Paladin Energy Ltd produces gold, copper, uranium in Malawi and in Namibia, develops uranium in Canada, and holds various exploration projects in Australia. Its main assets in production are LANGER HEINRICH in Namibia and KAYELEKERA in Malawi, its main asset in development is MICHELIN in Canada and its main exploration properties are ANGELA/PAMELA, OOBAGOOMA, SKAL, VALHALLA, BIGRLYI, MANYINGEE, MT LOFTY and SICCUS in Australia and NASH, JACQUES LAKE and RAINBOW LAKE in Canada. Paladin Energy Ltd is listed in Australia, in Canada and in Germany. Its market capitalisation is AU$ 23.0 billions as of today (US$ 15.0 billions, € 14.1 billions). Its stock quote reached its lowest recent point on March 20, 2020 at AU$ 0.04, and its highest recent level on April 26, 2024 at AU$ 13.45. Paladin Energy Ltd has 1 712 839 936 shares outstanding. |