Paladin secures second sales contract

Uranium explorer Paladin Resources Ltd has secured its second sales contract for a portion of its yellowcake production from the Langer Heinrich uranium mining operation in Namibia.

The sales contract - with a major unnamed US utility - is for the purchase of 2.1 million pounds of yellowcake for delivery between 2007 and 2012.

It represents Paladin's second sales contract of yellowcake from the mining operation this month.

The company has advised pricing will be market related to be determined at the time of each delivery with escalating floor and ceiling price components.