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- Paladin Energy has bumped Langer Heinrich’s production guidance after “robust performance during first nine months.”
- Now forecasted to reach between 4.5-4.8 million pounds uranium.
- Guidance for capital, expenditure dropped from US$26-$32M to US$15-17M.
Paladin Energy (ASX:PDN) now expects Langer Heinrich’s total production to reach between 4.5 million and 4.8 million pounds of uranium, an increase from the previously forecast range of four million to 4.4 million pounds.
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The combination of successful mobilisation of Paladin’s mining fleet, improved feed grade, and high recovery rates from the processing plant have resulted in a year-to-date FY26 production of 3.6Mlb uranium.
This “robust performance during the first nine months of the fiscal year” led to Paladin happily hiking its expectations for the Namibian mine.
Not everything is going up, though. While production targets have been hiked, Paladin significantly lowered its guidance for capital and exploration expenditure. The previous range of US$26-$32 million has been dropped, to US$15-17 million. Full-year sales guidance remains unchanged.
The cost of production for the first nine months averaged ~US$40.4/lb. Paladin expects the full-year cost of production to stay in that same guidance, $44 to $48 a pound, though the company did note final figures may be impacted by the duration of the conflict in the Middle East and associated costs.
Last year, Paladin CEO Ian Purdy pointed out the Langer Heinrich mine is still ramping up to full production and called for shareholder “patience” as the company steadily ticks towards its goals. “We are creating a leading Canadian development hub for the uranium sector, with exploration upside across all our properties in the Athabasca Basin and in Newfoundland and Labrador,” he said.
These revisions come ahead of the Western Australian company’s formal March CY26 quarterly, scheduled to release April 22. (And Paladin today warned that any revisions do remain subject to operating conditions.)
Paladin has a conference call booked for 11AM on April 22 as well.
PDN is heading into Friday morning at $14.15/share.
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