-- Paladin Energy (ASX:PDN) said it now expects fiscal year 2026 triuranium octoxide production of between 4.5 million pounds and 4.8 million pounds, up from previous guidance of 4 million pounds to 4.4 million pounds, from the Langer Heinrich Mine in Namibia, according to a Friday Australian bourse filing.
The mine, in which the company holds 75% interest, now has a capital and exploration expenditure guidance of between $15 million and $17 million, down from $26 million to $32 million, due to reprioritization and deferral of capital and exploration expenditure.
The company said that the cost of production is expected to materially align with previous guidance of $44 million per pound to $48 million per pound, pending the duration of the current conflict in the Middle East and any further associated impacts on forecast cost.
The mine recorded 1.03 million pounds in sales in the fiscal third quarter with 1.29 million pounds of production. Its full-year sales guidance remains unchanged at between 3.8 million pounds and 4.2 million pounds.
Paladin said it continues to expect LHM to transition to full mining and processing plant operations by the end of fiscal 2026.
The company's shares rose 3% in recent trade and earlier reached their highest price since June 2024.