Paladin Resources (PDN) Share Trading Update

Submitted by Craig Strzelecki on 4 April, 2007 - 19:01

Paladin Resources (PDN) share price has fallen over 8.8% from all time highs of $10.75 in February after the board of Summit Resources rejected its takeover offer, observed by market analyst Maquarie Research Equities. Paladin is a focused uranium mining, development and exploration company with key development projects in both Africa and Australia. The company's flagship project, the Langer Heinrich mine in Namibia, entered into commercial uranium production at the end of 2006. Over the past five years the uranium spot price has surged from around US$10/lb to US$91/lb, its highest nominal level on record. In the short term, the market is expected to remain tight, and reactors are expected to continue to struggle to secure sufficient primary supply in the face of waning secondary supplies. The lion's share of forecast growth in output comes from a small number of mines - any disruption to production at any of these mines is likely to have a major upward impact on spot prices. Paladin has a solid asset suite, strong growth profile and significant leverage to a booming uranium price.

Paladin Resources Limited is listed on the Australian Stock Exchange (ASX) under stock code . You can view their investor website here. PDN was listed on the ASX on 29 March, 1994. Rick Crabb is the Chairman for Paladin and John Borshoff the Managing Director. Paladin Resources is a listed company on both the Australian Stock Exchange ("ASX") and the Toronto Stock Exchange ("TSX") under the symbol "PDN" with subsidiary listings on the Munich Stock Exchange, Berlin-Bremen Stock Exchange, Stuttgart Stock Exchange and Frankfurt Stock Exchange under the symbol "PUR". Paladin operates in the mineral resource sector with focus on uranium and has projects in Australia and Africa. In line with its long term vision to establish as a uranium producer, the Company’s strategy is to identify, acquire and evaluate advanced uranium projects. Since 1998, during a period of sustained downturn in global uranium markets, Paladin had been accumulating a quality portfolio of advanced uranium projects each having production potential. The strengthening of the uranium market continues. With the looming supply shortages, strong upward pressure on uranium oxide (UO) prices is expected to be maintained offering Paladin an excellent opportunity to capitalise and become a significant supplier of natural uranium. Production has commenced on the Langer Heinrich Uranium Project in Namibia and the BFS has been completed on the Company’s Kayelekera Project in Malawi with activities for development commenced. These are believed to be the two most advanced uranium projects in Southern Africa. Browse for Australian stockbroker recommendations. Check your charts and good luck with your share trading!