Langer Heinrich Mine ramp-up completed
Paladin Energy reported completing the ramp-up of the Langer Heinrich Mine (LHM) in Namibia during the quarter ending June 30, 2026, with the full mining fleet now operational. LHM produced 1.23 million pounds of U₃O₈ at an average recovery rate of 90% for the quarter, bringing full-year FY2026 production to 4.82 million pounds at the upper end of the guidance range. Sales volumes reached 1.35 million pounds at an average realised price of US$70.6/lb U₃O₈ for the quarter, while cost of production came in at US$51.6/lb for the quarter and US$43.3/lb for the financial year, at the lower end of guidance.
Patterson Lake South advances toward construction
The Canadian Nuclear Safety Commission (CNSC) determined that Paladin's Construction Licence application for the Patterson Lake South (PLS) Project was sufficient to proceed through regulatory review. Subsequent to quarter-end, Paladin signed an Administrative Protocol with the CNSC targeting completion of construction licence hearings by the end of calendar year 2027. The company also executed a binding term sheet with the Birch Narrows Dene Nation regarding a Mutual Benefits Agreement for the PLS Project, advancing the Indigenous agreement pathway.
New high-grade discovery at Atlas
During the winter drilling program, Paladin identified the Atlas discovery, a new high-grade body of uranium mineralisation located 3.5km south of the PLS Project's Triple R deposit and 4.5km southwest of Saloon East. Management described Atlas as sitting on the Saloon Trend, which runs broadly parallel to the Triple R deposit, and said the find showed significant opportunities to increase development potential at PLS.
Financial position and safety metrics
Paladin ended the quarter with US$265 million in cash and investments alongside an undrawn US$70 million Revolving Credit Facility. Total mined material reached 7.45 million tonnes for the quarter, a 21% uplift from the previous quarter and the highest quarterly mining rate since the restart, with crusher throughput at 1.19 million tonnes at an average ore feed grade of 488ppm. The company reported a Total Recordable Injury Frequency of 3.2 per million hours worked on a 12-month basis.
American Uranium share issuance for marketing services
American Uranium Ltd (AMU) announced the issuance of 114,583 ordinary fully paid shares at an estimated A$0.12 per share as compensation for marketing services rendered, bringing total ordinary shares on issue to 129,431,847. The company, which focuses on uranium exploration and development, did not disclose the total value of the transaction.
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