Paladin has interests in the Isa Uranium Joint Venture (IUJV), the Mount Isa North Project (MINP) and the Valhalla North Project (VNP). The three projects include 10 deposits containing 148.3Mlb U3O8 across all resource categories. The bulk of the mineralisation (76.3Mlb) is concentrated in the Valhalla deposit.
The current ownership structure is shown in the figure below and Paladin is currently in the process of acquiring the minority shareholdings in Summit to take its ownership to 100% as part of an off-market takeover offer announced on 1 August 2018. Currently Paladin owns an effective 91.04% interest in the Valhalla/Skal Project.
The landholding consists of four Exploration Permits for Minerals (EPM’s) and six Mineral Development Licences (MDLs). Due to various ownership levels technical work is managed through the three separate Projects.
The above structure results in the Paladin group owning an effective 91.04% interest in the Valhalla/Skal Project.