Paladin Resources Ltd: Sale of Non-Core South Australian Uranium Property Database.PERTH, Western Australia This article is about the metropolitan area of Perth, Western Australia. For the local government area, see City of Perth. Perth is the capital of the Australian state of Western Australia. -- Paladin Resources Ltd ("Paladin") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :PDN (1) (Packet Data Network) See packet switching. (2) (Premises Distribution Network) The network that connects a customer's ADSL transceiver (ATU-R) to the Service Modules (PCs, routers, set-top boxes, etc.). See DSL. )(ASX ASX See: Australian Stock Exchange :PDN) is pleased to advise that it has sold to Deep Yellow Ltd (DYL DYL Doylestown, Pennsylvania (Airport Code) DYL Destroy Your Liver ) a non-core uranium exploration property in the Frome Basin in South Australia together with the licensing of a comprehensive regional database covering the Frome Basin area. The consideration to be received comprises 7,500,000 fully paid shares in DYL and 12,500,000 unlisted options exercisable at 12 cents on or before 15 July 2008. The issue of these securities is subject to the approval of DYL shareholders. With Paladin focussing its efforts on development of its advanced uranium projects in Namibia and Malawi, the Directors believe it more advantageous to the Company to allow, through DYL, the ongoing evaluation and progression of its non-core properties and databases it held in the Napperby, NE Arunta, the Frome regions of Northern Territory and South Australia. This enables the opportunity to allow development of these projects to then benefit Paladin by flow through from any upside through its growing equity holding in DYL. Paladin Resources Ltd. (TSX:PDN) (ASX.:PDN) |
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