Paladin soars on better-than-expected March quarter

The news: Shares in Paladin Energy have soared in early trading on the ASX after the uranium producer reported record quarterly production at its Langer Heinrich mine in Namibia.

The numbers: The company reported production of 745,484 pounds, up 17% over the December quarter. Sales jumped 74% to 872,435 pounds, at an average realised price of USD69.9 per pound.

Paladin shares were up nearly 18% to $4.69 in early trading.

The context: Paladin attributed the record production to an ongoing operational ramp up. The gains came despite operations being paused at the Namibian mine in March following a "one-in-fifty-year" rainfall event. Operations have since resumed. Paladin owns a 75% stake in the project.

The company said while global economic uncertainty and market turbulence from US tariffs has increased, it has not seen any direct impact on Paladin’s operations or sales from the US presidential decisions at this time.