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Paladin achieves record uranium production

Uranium miner Paladin Energy says it achieved record production in the three months to December but has downgraded its full-year production targets.

Paladin shares rose significantly on the update, up 12.5 cents, or 8.2 per cent, to $1.655 at 1051 AEDT.

The Africa-focused company operates two mines, in Namibia and Malawi.

It said production from both sites totalled 1.82 million pounds in the December quarter, up 47 per cent from 1.24 million pounds in the September quarter.

Paladin said uranium sales in the December quarter were 1.32 million pounds, generating revenue of $US69.9 million ($A67.98 million).

The company cut its guidance for full-year production from 7.4 to 7.9 million pounds to a new range of 7.1 to 7.4 milion pounds, due to unscheduled shutdowns at the Kayelekera plant in Malawi and the alter-than-expected ramp-up of stage 3 at the Langer Heinrish mine in Namibia.

The spot price of uranium was beginning to show signs of strengthening as new demand emerged, Paladin said.

As the impact of the Fukushima incident in Japan continued to work its way through the overall nuclear and uranium market, price improvement was anticipated throughout calender year 2012, it said.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
165thPaladin Energy62%-28%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/02/18
$0 Other
31/08/15
$20k Bought
07/08/15
$195k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Paladin Energy$127.8m
508 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Paladin Energy

221stAlexander Molyneux$524k
921stRick Crabb$112k
1582ndMark Chalmers$1k
Ranked by total remuneration from all listed WA companies

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