The Paladin Energy Ltd (ASX: PDN) share price is in focus today after the company posted strong quarterly growth, with uranium production up 16% to 1.23 million pounds (Mlb) and sales volumes more than doubling to 1.43Mlb.
What did Paladin Energy report?
- UâOâ production of 1.23Mlb for the quarter, up 16% from Q1
- Sales of 1.43Mlb UâOâ, up from 0.53Mlb last quarter
- Average realised price of US$71.8 per pound, higher than the previous quarter’s US$67.4
- Cost of production fell to US$39.7 per pound
- Unrestricted cash and investments of US$278.4 million at quarter end
- Full-year production expected at the upper end of 4.0â4.4Mlb UâOâ guidance
What else do investors need to know?
Paladin Energy’s ramp up at the Langer Heinrich Mine in Namibia remains on track, with full operational status planned for the end of FY2026 and full mining and processing in FY2027. Higher ore feed grades and recovery rates have contributed to the improved production numbers.
The company completed a major debt facility restructure during the quarter, reducing overall debt capacity but increasing financial flexibility, and closed the period with additional liquidity from a share purchase plan that raised A$100 million. There were also some boardroom changes, with new President Paladin Canada and COO appointments, strengthening leadership.
Paladin also advanced Canadian project activity, including exploration at the Patterson Lake South (PLS) and Michelin Projects, and continued the permitting process for PLS. Meanwhile, a class action filed against the company is proceeding, but Paladin maintains it will vigorously defend the claim.
What did Paladin Energy management say?
Managing Director and Chief Executive Officer Paul Hemburrow said:
As global interest in nuclear energy continues to strengthen, I am delighted by our progress in ramping-up operations at Langer Heinrich Mine. The new level of production achieved during the quarter provides insight into the robust performance that can be achieved from this strategic uranium asset. Our site team’s goal is to continue delivering a consistent operational performance for the remainder of this financial year.
What’s next for Paladin Energy?
Paladin is aiming for Langer Heinrich Mine to reach its full mining and processing run rate by the end of FY2026. Full-year guidance for UâOâ production is now expected at the higher end of the 4.0â4.4Mlb range, provided ramp-up continues smoothly.
Canadian exploration at the PLS and Michelin projects will progress, with a resource expansion drill program kicking off in early 2026. Management says ongoing financial flexibility and a strong contract book should help support further growth in uranium markets.
Paladin Energy share price snapshot
Over the past 12 months, Paladin Energy shares have risen 39%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
The post Paladin Energy lifts uranium output and sales in December quarter appeared first on The Motley Fool Australia.
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