Paladin Energy and NGM Resources announced that Paladin intended to make an off-market scrip takeover offer for the shares it does not already own in ASX listed minerals exploration company NGM.

Paladin already owns 22.5 per cent of NGM’s ordinary shares on issue, having already acquired 4.3 million NGM shares at $0.09 per share.

NGM Resources has a significant land position in Niger’s uranium rich Tim Mersoï Basin, a region that has a long uranium production history and hosts some of the world's largest and highest grade uranium mines.

The Corrs team is being led by partner Russell Philip with lawyer James Nicholls.

NGM director Robert Kirtlan said shareholders would retain exposre to any future success of the NGM projects, as well as benefit from Paladin’s broader portfolio of uranium projects in Australia and Africa.

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