Paladin Power chief government Ian Purdy says the uranium producer is ideally positioned to develop into a significant producer within the sector.
Perth-based Paladin – which restarted operations at its flagship Langer Heinrich mine in Namibia on March 30 final 12 months – produced 1.3 million kilos of uranium oxide in the course of the first six months of the monetary 12 months.
General, it bought 1.1 million kilos, which generated $US77.2 million in income.
Initially, the uranium producer had aimed to provide 4-4.5 million kilos, nonetheless this manufacturing was revised to 3-3.6 million kilos in November final 12 months – with shareholders forewarned about “operational challenges” inside the September 2024 quarterly report.
Paladin posted a half-year web lack of $15.1 million, down from a $76.7 million revenue in the course of the prior corresponding interval, with its delayed acquisition of Canada-based Fission Uranium Company finalised on Christmas Eve final 12 months.
“Paladin now has a few of the world’s finest present and future uranium manufacturing property in its portfolio,” Mr Purdy mentioned.
“Importantly, these are situated in a few of the world’s finest and most secure mining jurisdictions, particularly Namibia, Canada and Australia.
“The Paladin workforce is exceptionally happy with the strategic place that the corporate is now in after six months of laborious work by everybody concerned.
“Our focus is now on working patiently and diligently to align all the varied components of our manufacturing, operational and improvement functionality to consolidate Paladin as a world-class uranium producer that would be the first level of name for international clients within the uranium marketplace for a long time forward.”
As of December 31 2024, Paladin had $US117.1 in money and money equivalents, together with a complete fairness of $US840 million.
Paladin final traded at $6.86, down 6 per cent, as of 10.23am AWST.
