Paladin Energy achieves US$79 per pound average price
- Paladin Energy produced 1.00Mlb of uranium oxide during Q1 FY27 while selling 1.16Mlb at an average price of US$79.4 per pound.
- The company's share price closed at $8.03 following the announcement of its quarterly operational update.
- Higher realised uranium prices and increasing production expectations in the second half drive the company's unchanged FY27 guidance.
Paladin Energy (ASX:PDN) produced 1.00 million pounds of uranium oxide at its Langer Heinrich Mine during Q1 FY27 as sales volumes reached 1.16 million pounds.
The quarterly production total reflected planned maintenance shutdowns and processing plant recoveries at the bottom end of target ranges due to mining sequence ore characteristics.
"The quarter was impacted by the shutdown and the pit transition, with feed grade, plant performance and in-circuit inventory improving during September. We expect production to increase in the second half of FY27, and we remain on track to deliver our FY27 guidance," said Paladin Energy Managing Director and CEO Ian Purdy.
Production costs for the quarter reached US$61.6 per pound, while capital expenditure totalled US$6.9 million.
Paladin Energy stated that it expects production to increase in the second half of FY2027 while keeping its full-year guidance unchanged.
Following the announcement, the Paladin Energy share price was down at $8.03.
In Canada, the business signed a Mutual Benefits Agreement with the Birch Narrows Dene Nation and an Administrative Protocol with the Canadian Nuclear Safety Commission for the Patterson Lake South Project.
The company completed exploration drilling at Patterson Lake South, extending mineralisation at the Atlas and Saloon East discoveries, and ended the quarter with US$209 million in cash and investments alongside an undrawn US$70 million credit facility.
