Paladin Resources Ltd.: Clarification Of Langer Heinrich Royalty Purchase.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)(ASX ASX See: Australian Stock Exchange :PDN) seeks to clarify the position in relation to the recent acquisition of the Langer Heinrich royalty by Redport Limited as announced to the ASX by Redport on 28 June 2005. In August 2002, Paladin acquired the Langer Heinrich project from Aztec Resources Ltd and, as part of the acquisition consideration, agreed to pay to Aztec a small vendor production royalty of 12 cents (Australian) per kilogram of yellowcake yel·low·cake n. The concentrated oxide of uranium formed in the milling of uranium ore. Noun 1. yellowcake - an impure mixture of uranium oxides obtained during the processing of uranium ore U308 sold and delivered to a buyer. Based on current production forecasts of 2.6 million lbs per annum for the Langer Heinrich Uranium Project, this amounts to an annual payment of approximately A $142,000 translating to a gross royalty equivalent of 0.14% @ US$ 30/lb U3 O8. Paladin Resources Ltd. (TSX:PDN) (ASX.:PDN) |
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