Paladin Energy Ltd (ASX:PDN)

ALERT: Price-sensitive ASX Announcement for PDN

Current share price for PDN : $7.500 -4.46 (-37.29%)⁺

Announcement

2026 Annual Report to Shareholders & Appendix 4E

Release

26 Aug 2026 8:36AM

Price at Release

$11.960

Full Release

Summary

Paladin Energy Ltd’s 2026 Annual Report and Appendix 4E for the financial year ended 30 June 2026 present a year of significant operational, financial and strategic progress, with Langer Heinrich Mine in Namibia successfully completing ramp-up to full production and delivering 4.82Mlb U3O8 production, 4.35Mlb sales, revenue of US$304.3 million (up 71%), gross profit of US$52.2 million, a statutory profit attributable to members of US$5.336 million versus a prior-year loss, Cost of Production of US$43.3/lb, and cash and short-term investments of US$265.0 million at year-end, supported by a fully underwritten A$300 million placement and A$100 million Share Purchase Plan; no dividend was declared and net tangible assets per security rose to US$2.28. The report highlights that PDN advanced its Canadian Patterson Lake South Project toward development, including Saskatchewan EIS approval, CNSC sufficiency for the construction licence application and ongoing FEED and engineering work, while also reporting the Atlas high-grade uranium discovery near Triple R. Management emphasised safe operations, with Group TRIF of 3.2, strong local employment and community investment, and a favourable long-term uranium market outlook driven by growing nuclear demand. The report also details broader governance, remuneration, sustainability and climate disclosures, a stronger balance sheet after debt facility restructuring, and continuing strategic focus on maximising LHM value, unlocking PLS and progressing exploration assets across Canada and Australia.

Key Points

Annual Report 2026 and Appendix 4E cover the financial year ended 30 June 2026.
Revenue from ordinary activities increased 71% to US$304.320 million.
Net profit attributable to members was US$5.336 million compared with a loss in the prior year.
No dividend was declared or paid during or since the end of FY2026.
Net tangible assets per security increased to US$2.28 from US$1.98.
Langer Heinrich Mine completed ramp-up successfully and reached full production.
Annual production was 4.82Mlb U3O8 and sales were 4.35Mlb U3O8.
Average realised price was US$70.0/lb and Cost of Production was US$43.3/lb.
Gross profit was US$52.2 million.
Cash and short-term investments at 30 June 2026 were US$265.0 million.
Paladin completed a fully underwritten A$300 million institutional placement and a A$100 million Share Purchase Plan.
The debt facility was restructured, reducing drawn term debt and increasing flexibility.
The Patterson Lake South Project advanced toward development in Saskatchewan, Canada.
The PLS Project received Saskatchewan Ministerial approval of the Environmental Impact Statement in February 2026.
The CNSC determined the PLS construction licence application was sufficient to enter regulatory review.
After year-end, Paladin agreed an Administrative Protocol targeting completion of construction licence hearings by the end of calendar 2027.
Paladin completed an engineering review and ongoing FEED work for the PLS Project.
The Atlas high-grade uranium discovery was identified near the PLS Project during FY2026.
Exploration spend totalled US$14.0 million, including work at PLS and Michelin.
Group safety performance recorded a TRIF of 3.2 for FY2026.
LHM employed 99% Namibian nationals and the Group invested US$546,915 in community programs across Namibia and Canada.
The report integrates financial, governance, sustainability and climate-related disclosures into a single annual report.
The uranium market outlook remained favourable, supported by expected long-term supply-demand deficits and nuclear growth.

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.