Paladin Energy shares rally on production uptick
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More news: Paladin Energy was one of the top performers on the ASX 200 in morning trade after the uranium producer reported an increase in production from its Langer Heinrich Mine during the September quarter.
Paladin shares were up 8.4% to $9.52 at 11:43am AEDT. Fellow uranium miners Deep Yellow (+8.2%) and Boss Energy (+7.8%) also saw large gains.
Paladin Energy uranium sales slide in September quarter
The news: Paladin Energy’s uranium sales volume fell 14.3% in the September quarter, compared to the previous corresponding period. While production lifted, the miner pointed to the impacts of a shipping delay.
The numbers: In the September quarter for financial year 2026, Paladin Energy produced 1.07 million pounds of uranium ore, the highest since the Langer Heinrich Mine recommended production in March 2024. This was 66.7% higher year on year and 7.3% quarter on quarter.
Meanwhile, sales fell 14.3% year on year to 533,789 pounds. This was also 24.8% lower quarter on quarter.
The average realised price for uranium ore was USD67.4 ($103.4) per pound in the September quarter, which was down year on year compared to USD70.3 per pound last year but up on the USD55.6 pound in Q4 of FY25.
Cost of production also came in at USD41.6 per pound, slightly down from the USD41.9 per pound cost of production in Q1 FY25 but higher than the USD37.5 in Q4 FY25.
The context: Paladin Energy said that a shipping delay had impacted the sales volume figure for the September quarter, as a customer delivery was pushed out beyond the quarter.
Paladin Energy expects “lower levels of primary mined ore feed during the December 2025 quarter, as mining operations focus on waste removal across the G-pit area to enable higher levels of mined ore production during the second half of FY26”.
The miner also completed an engineering review of the Patterson Lake South Project during the quarter and reiterated that permitting activities are ongoing, including the final environmental impact statement.
The source: ASX
