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Hylea acquires Malawi uranium project

Grant Davey has popped up at Hylea Metals, the microcap that’s acquiring a 65% stake in the Kayelekera uranium project in Malawi that Paladin Energy spent the best part of a few hundred million dollars on before shutting it down due to the low price of yellowcake post-Fukushima.

Hylea acquires Malawi uranium project Hylea acquires Malawi uranium project Hylea acquires Malawi uranium project Hylea acquires Malawi uranium project Hylea acquires Malawi uranium project

Kayelekera in Malawi

Hylea will initially issue Paladin with A$1.8 million worth of shares and pay A$200,000 cash, with a further $3 million of Hylea paper due on the third anniversary.

It will also grant Paladin a 3.