Paladin Energy shares slump on Langer Heinrich production update
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More news: Paladin Energy shares tumbled in morning trade after the uranium business narrowly met the lower end of its full-year production guidance.
Paladin shares were down 9.4% to $7.40 at 11:35am AEST, extending losses to nearly 40% over the last 12 months.
The miner also set FY26 guidance for its flagship Langer Heinrich mine, targeting production of between 4 million and 4.4 million pounds, compared to 3.02 million pounds achieved this year.
Paladin Energy posts 33% leap in Q4 output, hits guidance
The news: Uranium miner Paladin Energy has reported a 33% jump in quarterly production at its Langer Heinrich mine in Namibia.
The numbers: Paladin recorded production of 993,843 pounds of uranium yellowcake for the three months to June, up from 745,484 in the previous quarter.
The result takes full-year production to 3.02 million pounds for the year, meeting the lower end of guidance which was revised down in November to between 3 million and 3.6 million pounds.
However, sales volumes dropped 18.6% quarter over the quarter to 710,051 pounds. The company's average realised price lowered from USD69.9 to USD55.6 per pound. Cost of production fell from USD40.6 to USD37.5 per pound.
Paladin further set its FY26 production guidance for the Langer Heinrich mine. The miner is targeting annual production of between 4 million and 4.4 million pounds and sales of between 3.8 million and 4.2 million pounds.
The context: Paladin said the ramp-up of the mine is expected to be completed by the end of FY26, with full mining and processing plant operations commencing the following year.
