Paladin Energy (ASX: PDN), a globally significant independent uranium producer with a 75% ownership of the Langer Heinrich Mine (LHM) in Namibia, has announced a strong operational performance for the three months ended 31 December 2025. The company also owns and operates an extensive portfolio of uranium development and exploration assets, including the Patterson Lake South (PLS) Project in Saskatchewan, Canada. Production of uranium oxide (U3O8) reached 1.23 million pounds, a 16% increase compared to the previous quarter, attributed to higher ore feed grade from a greater proportion of mined ore being processed.
Sales volumes were also robust, with 1.43 million pounds of U3O8 sold at an average realised price of US$71.8 per pound. This was bolstered by the quality of the LHM contract book and a strengthening uranium pricing environment. The company also completed mobilisation for the winter drilling program at the Patterson Lake South (PLS) Project during the quarter. The Langer Heinrich Mine is on track for completion by the end of FY2026, with full mining and processing operations planned for FY2027.
Paladin Energy also strengthened its balance sheet through the successful completion of a Share Purchase Plan (SPP) and the restructure of its syndicated debt facility. The SPP was strongly supported, with the company accepting A$100 million in applications. The debt restructure reduced the overall debt capacity from US$150 million to US$110 million, providing greater undrawn debt capacity and balance sheet flexibility. As of 31 December 2025, the company held cash and investments of US$278.4 million and an undrawn US$70 million Revolving Credit Facility.
On the personnel front, Dale Huffman commenced as President, Paladin Canada, in October 2025, and Scott Barber started as Chief Operating Officer (COO) subsequent to the quarter’s end. Paladin is also defending a shareholder class action in the Supreme Court of Victoria, denying any liability and asserting compliance with disclosure obligations.
