Paladin Energy swings to half-year loss, reaffirms production guidance
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The news: Uranium producer Paladin Energy swung to a $15.1 million loss during the six months to December, after completing its $1.27 billion outlay for Canadian explorer Fission Uranium during the period.
The numbers: Paladin said it remains on track to meet its revised production guidance of 3 million to 3.6 million pounds of uranium, following the ramp up of its Langer Heinrich mine in Namibia during the first-half period.
Paladin shares were down 3.8% to $7.01 at 11:05am AEDT, having retreated more than 40% over the last 12 months.
The context: Paladin slashed its full-year production guidance in November, and withdrew all other guidance, following "ongoing challenges and operational variability" at its Langer Heinrich mine.
Production at the site was impacted during the period due to "continued variability in the stockpiled ore processed" and "disruptions to the supply of water" from local water supplier NamWater.
The source: ASX
