Paladin Energy (T.PDN) falls after reporting fatality

Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, July 31, 2013 VANCOUVER (SHfn) –

Passport Potash Inc. (TSX: V.PPI, Stock Forum) fell 7.7% to 12 cents before closing unchanged at 13 cents as investors assessed a statement issued by the exploration and development company regarding recent developments in the potash industry. In the press release the company stated that the downward volatility being witnessed in potash stocks across the board today is a knee jerk reaction to unsubstantiated claims being made from Uralkali. Uralkali, a Russian company, announced plans on July 30 to break up one of the two main potash marketing groups to boost sales leading shareholders to speculate a sharp drop in global prices as more supply saturates the market. “It is our opinion that the present turmoil is likely to have more of a regional than a global impact. While Uralkali has advantages importing into the Asian markets, potash producers in the Western Hemisphere have similar advantages importing into the US and Brazilian markets, which are top import markets globally.”

Paladin Energy Ltd. (TSX: T.PDN, Stock Forum) lost 1.1% to 92 cents after the uranium-focused company reported a workplace fatality at its Kayelekera Mine in northern Malawi. A Malawi national employee, Khwima Phiri, who was employed in the mine's engineering workshop, died yesterday morning after being struck in the chest by a light vehicle wheel he was inflating at the time. Relevant authorities were notified and the Malawian Police and the company have investigated the incident, with the findings and outcomes pending.