Uranium play Paladin Energy (ASX: PDN) is in pre-open today following the ASX granting the company a trading halt, pending an announcement on 'strategic initiatives'.
In June, Paladin advised that the strategic initiative outcome expected to be finalised at the end of June has been delayed until mid to late August.
Advanced negotiations have been ongoing regarding finalising a minority equity position in the Company’s flagship Langer Heinrich Mine in Namibia.
In the June quarterly the company said that it is "confident a sale will be successfully achieved; however, a revised bid from one of the parties requires reconsideration and the approval process will be extended."
Potential finalisation of the transaction has moved into the September quarter.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 5th August 2013.
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