pdn the gem ****************

Paladin nukes $1b mark


Date: 21/9/2005
Author: John Phaceas
Source: The West Australian --- Page: 49/52
Shares in Australian mining company Paladin Resources rose to a high of $A2.60 on 20 September 2005. The increase, in line with other uranium stocks performing very well in the current market, meant Paladin became another Perth-based entity boasting a market capitalization of in excess of $A1bn. At its closing price on the day of $A2.48 however, it fell slightly short, with $A997m. The milestone marked a dramatic turnaround from a share price of just $A0.017 in late 2003, with uranium prices also tripling to over $US30 per pound during that period. Rob Brierley of Patersons Securities highlights the fact that in contrast with most uranium stocks enjoying high share prices at present, Paladin actually has mining assets that are already operating. At present, these are located in Africa, but the company is lobbying the Western Australian Government to lift a ban on uranium mines in that state.