Paladin’s Namibia mine impacted by planned maintenance
Uranium producer Paladin’s 75%-owned Langer Heinrich mine (LHM), in Namibia, produced one-million pounds of triuranium octoxide (U3O8) in the quarter ended September 30, with production reflecting the planned maintenance shutdown and processing plant recovery.
Sales volumes of 1.16-million pounds of U3O8 at an average realised price of $79.40/lb for the quarter reflect increasing uranium prices and a higher proportion of market-related sales during the period.
Paladin is, meanwhile, progressing development of the Tier-1, high-grade and shallow Patterson Lake South (PLS) project, in northern Saskatchewan, Canada.
During the September quarter, a mutual benefits agreement was signed with Birch Narrows Dene Nation in relation to the PLS project.
Further, an administrative protocol was also signed with the Canadian Nuclear Safety Commission (CNSC) targeting completion of hearings for the PLS project’s construction licence application at the end of the 2027 calendar year.
Exploration drilling completed at PLS successfully extended mineralisation at the emerging Atlas and Saloon East discoveries and beyond the current R1515W mineral resource at the Triple R deposit.
Paladin had cash and investments of $209-million and an undrawn $70-million revolving credit facility at quarter-end.
In addition to LHM and the PLS project, Paladin also owns a portfolio of exploration assets within Canada, as well as Australia.
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