Paladin secures further uranium sales contract

Shares in Paladin Resources Ltd have risen almost 6 per cent after the company secured a sales contract for over 2.5 million pounds with a US utility.

At 1125 WST, Paladin's share price was up 29 cents to $4.48.

This represents the third sales contract for a portion of its yellowcake production from the Langer Heinrich Uranium Mining Operation located in the west of central Namibia.

The contract is for the delivery of the yellowcake will take place between 2007 and 2012.

The Operation is scheduled for commissioning in September 2006 and the sales arrangement is subject to finalisation of all necessary legal documentation.