A 12 per cent shortfall in uranium production has forced Subiaco-based Paladin Energy Ltd to revise down its forecast production for 2008 at it Langer Heinrich mine in Namibia.
The multi-million dollar fortunes of Paladin Energy Ltd chairman Rick Crabb and company secretary Gillian Swaby are at risk after the company disclosed that about half their shares are subject to margin loans with failed lender Lift Capital.
Perth-based uranium producer Paladin Energy Ltd says its Langer Heinrich mine in the African nation of Namibia has achieved its production target for the December quarter of 390,807 pounds of uranium oxide.
Uncertainty about the future of uranium mining in Queensland and recent hedge fund acquisitions of its shares have convinced Perth-based Summit Resources Ltd to accept a takeover offer from Subiaco-based Paladin Resources Ltd.
The Valhalla Uranium Ltd takeover saga continues as majority shareholder Resolute Mining Ltd entered into a $75 million deed of indemnity with Valhalla's suitor, Paladin Resources Ltd.
