Paladin Energy’s Langer Heinrich mine in Namibia produced 1.00 million pounds of uranium oxide in the quarter ended September 30, down from 1.23 million pounds in the June quarter. The company attributed the fall to a planned maintenance shutdown, processing plant recovery of 85 percent against 90 percent previously, low in circuit inventory at the start of the quarter and ore characteristics tied to the mining sequence. Performance improved during September as mining advanced in the J Pit.
Sales were 1.16 million pounds at an average realised price of $79.4 a pound, up from $70.6, reflecting rising uranium prices and a higher share of market related sales. The cost of production rose to $61.6 a pound from $51.6. Full year FY2027 guidance is unchanged at 5.1 to 5.6 million pounds at a cost of $44 to $48 a pound, which requires both higher output and lower unit costs over the remaining quarters. The company held $209 million in cash and investments and an undrawn $70 million revolving facility at quarter end.
In Canada, Paladin signed a mutual benefits agreement with the Birch Narrows Dene Nation for the Patterson Lake South project in Saskatchewan’s Athabasca Basin, and an administrative protocol with the Canadian Nuclear Safety Commission targeting completion of construction licence hearings by the end of 2027. Drilling extended mineralisation at the Atlas and Saloon East discoveries and beyond the current resource at the Triple R deposit.
Uranium miners fell 4.92 percent in the October 15 market table and are down 10.99 percent on the week, so Paladin’s soft quarter landed in a weak tape for the sector rather than driving it.