Paladin raises A$525 million to fund Patterson Lake South

Paladin Energy has launched a fully underwritten A$525 million equity raising, priced at A$7.80 a share, a 10.3 percent discount to its last ASX close, to fund the 2027 and 2028 capital works at its Patterson Lake South uranium project in Saskatchewan.

Why it matters: The raise gives one of the largest undeveloped uranium projects a funded path through its pre-construction works, with first production targeted in 2031, and adds equity supply to a uranium sector that has been financing growth on strong prices.

Data as of Paladin Energy's own announcement, dated Perth, November 11, 2026 and released to the ASX on November 12, 2026, read in full in its GlobeNewswire carrying; all terms are the company's. Developing item.

Paladin Energy has launched a fully underwritten equity raising of A$525 million, made up of a A$474 million institutional placement on the ASX and a Canadian bought deal of C$50 million on the TSX, both at the equivalent of A$7.80 a share. The price is a 10.3 percent discount to the A$8.70 close on November 11, and eligible shareholders in Australia and New Zealand will be offered a further, non-underwritten share purchase plan of up to A$50 million at the same price.

The money funds the planning and execution of the 2027 and 2028 capital works program at the Patterson Lake South project in Saskatchewan’s Athabasca Basin, a possible mine life extension and resource growth at Triple R, wider basin exploration, and repayment of existing debt. Managing director Paul Hemburrow said the raising keeps the project on momentum toward targeted first production in 2031. Completion of the bookbuilds is expected to be announced on November 13, with settlement on November 18.

Paladin raises A$525 million to fund Patterson Lake South

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