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    market news

    Paladin Energy Rises Most In Seven Months

    Investing News Network
    Aug. 15, 2012 02:26PM PST
    Energy Investing

    Bloomberg reported Paladin Energy Ltd. (ASX:PDN) gained the most in seven months in Sydney trading after signing a six-year supply deal.

    Bloomberg reported Paladin Energy Ltd. (ASX:PDN) gained the most in seven months in Sydney trading after signing a six-year supply deal.

    As quoted in the market news:

    The shares rose 10 percent to A$1.39, the biggest gain since Jan. 17, while Australia’s benchmark S&P/ASX 200 Index declined 0.3 percent.

    Paladin, operator of the Langer Heinrich mine in Namibia and the Kayelekera project in Malawi, will receive an initial $200 million payment, allowing the company to repay debt, the Perth-based company said today in a statement. The company, which is developing assets in Australia, Canada and Niger, forecasts that uranium prices will climb this year.

    Click here to read the full Bloomberg report.

    market newslanger heinrichaustraliacanadapaladin energyasx:pdn
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