Paladin Energy (ASX:PDN) produced 1 million pounds (Mlb) of uranium oxide (U₃O₈) at its Langer Heinrich Mine in Namibia during the September quarter, down from 1.23Mlb in the previous three months.
The result reflected a planned maintenance shutdown and lower processing performance associated with ore characteristics during the mining sequence, according to the company.
Jefferies (NYSE:JEF) said the fiscal first-quarter production result fell short of its expectations.
Paladin sold 1.16Mlb U₃O₈ during the quarter, down from 1.35Mlb, while its average realised price rose to US$79.40 ($114.23) per pound from US$70.60 per pound.
Production costs increased to US$61.60 per pound from US$51.60 in the June quarter.
The company maintained its FY2027 guidance and expects production to increase in the second half of the financial year as plant performance and feed grades improve.
Paladin also ended the quarter with US$209 million in cash and investments and an undrawn US$70 million revolving credit facility.
Langer Heinrich is Paladin’s producing uranium operation in Namibia, while the company is also advancing the Patterson Lake South Project in Saskatchewan, Canada.
Write to France Pinzon at Mining.com.au
Main image: Paladin Energy
