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Paladin Energy Ltd (ASX:PDN)

ALERT: Price-sensitive ASX Announcement for PDN
Current share price for PDN : $9.830 -3.78 (-27.77%)+
Announcement
Release
22 Apr 2026 8:35AM
Price at Release
$13.610
Full Release
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Summary
Paladin Energy Ltd's Quarterly Report for March 2026 highlights strong operational performance at the Langer Heinrich Mine, with increased production guidance due to efficient resource utilization and processing improvements. The company secured environmental approval for the Patterson Lake South Project in Canada, marking a significant regulatory achievement. Paladin is actively engaging with local communities to ensure sustainable development and addresses ongoing class action proceedings, affirming compliance with disclosure obligations. Financially, the company maintains a robust position with substantial cash reserves and an undrawn credit facility.
Key Points
  • The cost of production for the quarter was US$40.3/lb, benefiting from utilisation of remaining MG3 stockpile.
  • Resource drilling of 9,427 m was completed during the quarter in ML140.
  • FY2026 guidance revised with U3O8 production increased to 4.5 - 4.8Mlb.
  • Environmental approval for the Patterson Lake South Project received from the Saskatchewan Government.
  • Paladin continues to engage with local communities and Indigenous Peoples for sustainable benefits.
  • Langer Heinrich Mine continues to perform strongly with a ramp-up to full operations expected by end of FY2026.
  • Inbound shipments to Langer Heinrich Mine remain unaffected by Middle East conflicts.
  • Cash and investments at US$219.5M with an undrawn US$70M Revolving Credit Facility.
  • Total Recordable Injury Frequency (TRIF) of 3.0 per million hours worked.
  • Class action proceedings ongoing, Paladin denies liability and will defend its position.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.