Friday, January 18, 2013

Paladin Energy Achieves Record Uranium Sales Revenues In December 2012 Quarter

Published on Friday January 18 2013 (AEST)

 Paladin Energy Ltd. (PDN.TO) the company has achieved record sales revenue of US$133.9 million for the quarter, selling 2.78 Mlb U 3 O 8 at average price of US$48.10/lb. It has also achieved record quarterly and annual production at both the Langer Heinrich and Kayelekera mines. 

Combined production for the December quarter was 2.191 Mlb (994t) U3O8, an increase of 13.6% on the September quarter and is the equivalent of 103.1% of nameplate production of 2.125 Mlb U3O8 for the quarter. 


 During the quarter, the plant delivered further improved performance to new record production levels – not only the overall production but also the overall recovery levels. Overall plant throughput also further improved to 914,847t crushed – a 2% increase from the previous quarter.

Production totalled 1,418,583lb U3O8, which was 9.9% higher than the previous quarter. The operation is
performing consistently with continuous improvements taking place. During the quarter, the Bankers’
Completion Tests for Stage 3 were successfully completed.

 KAYELEKERA MINE, Malawi (85%)

 Production during the December quarter was a record, exceeding the previous quarter by 20.9%.
 Production of 261,929lb U3O8 was achieved in October and 262,299lb U3O8 in November, equating to 94.5% of
nameplate, and 248,052lb U3O8 in December, equating to 90.2% of nameplate


The strong combined production over the past two quarters on LHM and KM of 4.12Mlb U3O8, with signs for continued improvement, place the Group in a good position to achieve its stated production target guidance of 8.0 to 8.5Mlb U3O8 given for FY2013, with the opportunity to deliver in the upper end of this range.

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