https://www.miningweekly.com

Paladin Energy narrows nine-month net loss

14th May 2015

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Uranium producer Paladin Energy has narrowed its net loss in the nine months ended March 31, despite revenue halving on the back of a sharp decline in sales volume and prices.

In the nine months to March 31, the TSX- and ASX-listed miner posted a loss attributable to members of $176.1-million, down from a $286.1-million loss in the previous corresponding period.

The Perth, Western Australia-based company’s results were weighed down by impairments of $327.9-million, mostly the result of a $323.6-million write-down on its Queensland exploration assets.

So far this year, Paladin had booked impairments of $1.7-million, owing to the impairment of the investment in Australian uranium explorer Deep Yellow.

Revenues fell 51% to $125.3-million in the nine-month period, as sales volumes tumbled 47% to 3.6-million pounds of uranium oxide. Total output was down 42% at 3.7-million pounds of uranium, mainly owing to the Kayelekera mine, in Malawi, remaining on care and maintenance, making its last shipments in December.

Paladin, which operated its flagship Langer Heinrich mine, in Namibia, noted that its realised sales prices dropped 8% year-on-year to $34.8/lb.

The miner maintained its previous guidance for full-year uranium output of between 5-million pounds and 5.2-million pounds of uranium oxide in fiscal 2015.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Hannah Instruments
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine video image
Magazine round up | 01 March 2024
1st March 2024
Implats CEO Nico Muller
Implats expecting phased reduction in group output
29th February 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.202 0.249s - 106pq - 2rq
Subscribe Now