Namibian-focussed uranium producer Paladin Energy (ASX/TSX: PDN) has received a query from the Australian Stock Exchange regarding an increase in the company's share price.
Paladin replied it was not aware of any information that has not been announced through the ASX that could be an explanation for recent trading in the securities of the company.
A$3 billion-capped Paladin has bounced off a low of $3.50 to a current share price of $4.20.
The spot uranium price has climbed off the floor in March from US$40.50 to US$42.25 per pound.
If US-based uranium company Uranium Energy Corp. (AMEX:UEC) president and chief executive officer Amir Adnani is correct, uranium prices may be on the move. He said in an interview in Hong Kong recently that uranium prices may start to rise at the end of the year as demand from utilities improve.