ASX- Listed Paladin Energy Signs MOU With Chinese Group CGNPC

Paladin Energy has signed a wide ranging Memorandum of Understanding (MOU) with Chinese based CGNPC Uranium Resources setting up a framework of co-operation for long term sales of uranium.

In a statement Paladin said the agreement could also include potential participation by CGNPC in Paladin's growth strategies and expansion of joint venture relations in the Northern Territory with Energy Metals, in which CGNPC through its subsidiary China Uranium Development holds a 69 per cent interest.

The agreement is a non-exclusive MOU.

CGNPC is a large nuclear utility in China and its expects its reactor build programs will account for about 50 per cent of China's anticipated growth in nuclear power to 2020.

Paladin shares were up 20 cents or 5.24 per cent to $4.02 at 10.45am following the announcement.



See full company statement:

Paladin is pleased to advise that it has signed a wide ranging Memorandum of
Understanding (MOU) with CGNPC Uranium Resources Co., Ltd ("CGNPC-URC"), setting a framework of co-operation for long term sales of uranium, potential participation in Paladin's growth strategies, and possible expansion of joint venture relationships in the Northern Territory with Energy Metals Limited (EME), in which CGNPC-URC, through the subsidiary China Uranium Development Company Limited, holds a 69.34% interest.

Although this MOU is non exclusive, it provides a further platform from which Paladin
can build upon its already impressive growth.

Paladin has a strong project development pipeline and remains the only fully independent publically listed uranium company with a geographically diversified production base.
About China Guangdong Nuclear Power Holding Corporation (CGNPC)

CGNPC-URC is the wholly owned subsidiary of CGNPC.

CGNPC is the premier nuclear utility in China and its reactor build programs will account for about 50% of China's anticipated growth in nuclear power to 2020. CGNPC-URC is a wholly owned affiliate of CGNPC responsible for uranium procurement either through purchase of uranium product or development of new mines.

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