PERTH, WESTERN AUSTRALIA--(Marketwired - Feb. 20, 2014) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") notes that, as announced on February 7, 2014, Paladin (Africa) Limited (PAL), a subsidiary of Paladin Energy Ltd (Paladin), is suspending production at its Kayelekera Mine (KM or the Operation) in Malawi and will place the Operation on care and maintenance until PAL determines that a recovery in the price of uranium oxide would enable production to resume on a profitable basis.
Paladin has since applied to the ASX for a determination regarding the application of Chapter 11 of the Listing Rules. The ASX has confirmed that Listing Rules 11.1 and 11.2 do not apply and, accordingly, shareholder approval is not required in relation to the suspension of production at KM.
ACN 061 681 098
Contact Information:
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
+1 905 337-7673 Mobile: +1 416-605-5120 (Toronto)
greg.taylor@paladinenergy.com.au