Paladin Energy Ltd Signs Strategic MOU With CGNPC Uranium Resources Co., Ltd
PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 08/05/10 -- Paladin Energy Ltd (TSX: PDN)(ASX: PDN) (Paladin) is pleased to advise that it has signed a wide-ranging Memorandum of Understanding (MOU) with CGNPC Uranium Resources Co., Ltd ('CGNPC-URC'), setting a framework of co-operation for long term sales of uranium, potential participation in Paladin's growth strategies, and possible expansion of joint venture relationships in the Northern Territory with Energy Metals Limited (EME), in which CGNPC-URC, through the subsidiary China Uranium Development Company Limited, holds a 69.34% interest. Although this MOU is non exclusive, it provides a further platform from which Paladin can build upon its already impressive growth.
Paladin has a strong project development pipeline and remains the only fully independent publically listed uranium company with a geographically diversified production base.
About China Guangdong Nuclear Power Holding Corporation (CGNPC)
CGNPC-URC is the wholly owned subsidiary of CGNPC.
CGNPC is the premier nuclear utility in China and its reactor build programmes will account for about 50% of China's anticipated growth in nuclear power to 2020. CGNPC-URC is a wholly owned affiliate of CGNPC responsible for uranium procurement either through purchase of uranium product or development of new mines.
ACN 061 681 098
Contacts:
Paladin Energy Ltd
John Borshoff
Managing Director/CEO
+61-8-9381-4366 or Mobile: +61-419-912-571
john.borshoff@paladinenergy.com.au
Paladin Energy Ltd
Greg Taylor
Investor Relations Contact (Toronto)
+905 337-7673 Mobile: +416-605-5120
greg.taylor@paladinenergy.com.au
www.paladinenergy.com.au