Paladin increases uranium full-year guidance but defers some capex
ASX-listed Paladin Energy has revised upward its full-year guidance for triuranium octoxide (U3O8) produced from the Langer Heinrich mine, in Namibia, following a period of ramp-up and transition to full mining operations.
The combination of successful mobilisation of the mining fleet, improved feed grade and high recovery rates from the processing plant has resulted in year-to-date production of 3.6-million pounds of U3O8.
The company’s 2026 financial year ends on June 30, with the company due to publish its March quarterly report on April 22.
Paladin has revised its U3O8 production guidance to between 4.5-million and 4.8-million pounds, up from 4-million to 4.4-million pounds previously.
Guidance on sale volumes of U3O8 for the full-year remains unchanged at between 3.9-million and 4.2-million pounds. The company sold three-million pounds of U3O8 in the nine months ended March 31.
The group’s cost of production is also expected to remain aligned with previous guidance of between $44/lb and $48/lb, provided that the current conflict in the Middle East does not have further associated impacts on forecast costs.
Paladin says it is closely monitoring the potential impacts of disruptions arising from current geopolitical events.
Moreover, the company has reduced its capital and exploration expenditure guidance range to between $15-million and $17-million, from $26-million to $32-million previously, owing to reprioritisation and deferral of this expenditure.
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