uranium set for a turnaround?, page-2

Fundamentals are, fundamental! Whether it be a rotten spot price or a rotten Russian fundamentals will win through in the end. There's every indication Marenica is sitting on well over 100mlbs, it's just a question of time to prove it.

On the back of the news about Uranium set for a turnaround, anyone notice this yesterday?

Paladin Surges in Sydney After Cheetah Resources Buys Stake

April 30 (Bloomberg) -- Paladin Energy Ltd. rose the most in a year in Sydney trading after saying a company that appears to be a unit of Canadas Uranium One Inc. had acquired a stake.

Paladin rose as much as 11 percent to A$4.07, the biggest gain since April 23, 2009. The shares were 8.7 percent higher at A$4.00 at 4:21 p.m. The S&P/ASX 200 Index climbed 0.5 percent.

The company, Cheetah Resources, purchased at least 9.84 million shares in Paladin, the Perth-based uranium producer said in a statement today to the Australian stock exchange. That would amount to about 1 percent of Paladins 717 million shares outstanding, according to data compiled by Bloomberg.

Paladin hasnt been contacted by either Cheetah Resources or Uranium One and isnt aware of their intentions, the mining company said.

Uranium One officials in Vancouver couldnt immediately be reached for comment in an after-hours call to the companys offices.

To contact the reporter on this story: James Paton in Sydney [email protected] .

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