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BRIEF-Paladin Energy updates on EDF off-take contract

Published 2017-01-09, 11:29 p/m
Updated 2017-01-09, 11:30 p/m
© Reuters.  BRIEF-Paladin Energy updates on EDF off-take contract

Jan 10 (Reuters) - Paladin Energy Ltd PDN.AX :

* Receives notice from Électricité de France regarding EDF's $200 mln pre-payment under long term off-take contract

* EDF (PA:EDF) has requested security for pre-payment in addition to its existing security over 60.1% of Michelin (PA:MICP) Project in Canada

* May be required to provide additional security and Paladin has been discussing potential additional security and value of the same

* Paladin energy says EDF informed co that value of additional security proposed by Paladin is less than value required by off-take contract

* Paladin energy says co does not agree with EDF's position; the matter will now proceed to independent expert valuation Source text for Eikon: Further company coverage: PDN.AX

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