Chamwe Kaira
Paladin Energy reported revenue of US$138.3 million for the six months ended 31 December 2025, driven by uranium sales from the Langer Heinrich Mine in Namibia and firmer uranium market conditions.
The company sold 1.96 million pounds of uranium oxide during the period at an average realised price of US$70.5 per pound.
Cost of sales reached US$112.3 million as production at Langer Heinrich Mine continued to ramp up and a higher share of mined ore was processed through the plant. Gross profit rose to US$26 million from US$0.9 million in the same period last year.
Paladin recorded a net loss after tax of US$6.6 million, narrower than the US$15.1 million loss in the first half of the 2025 financial year.
The company linked the loss to ongoing ramp-up costs at Langer Heinrich Mine, expansion following the acquisition of Fission Uranium Corp, now Paladin Canada Inc., and expenses related to its Toronto Stock Exchange listing and financing activities.
Commenting on the results, managing director and chief executive officer Paul Hemburrow said performance at Langer Heinrich Mine continued to improve as the company optimised its production processes.
He said the strengthened balance sheet and increased revenue place Paladin in a strong position to complete the LHM ramp-up and continue progressing the Patterson Lake South Project in Canada toward a final investment decision, including ongoing winter drilling activities.
Operationally, the company produced and sold 1.96 million pounds of uranium at a production cost of US$40.5 per pound.
Management said the arrival of the remaining mining fleet supports the completion of the production ramp-up during the rest of the financial year.
Paladin also improved its financial position. Total unrestricted cash and investments rose to US$278.4 million at 31 December 2025, up from US$89 million at 30 June 2025.
This followed a fully underwritten A$300 million equity raising and a A$100 million share purchase plan.
On 19 December 2025, the company restructured its syndicated debt facility with Nedbank Ltd, Nedbank Namibia Ltd and Macquarie Bank.
The restructuring reduced total debt capacity from US$150 million to US$110 million. The revised facility includes a US$40 million term loan, after a repayment of US$39.8 million, and an undrawn US$70 million revolving credit facility. The company did not draw any additional debt during the period.
Paladin ended December 2025 with net cash of US$238.4 million, compared with net debt of US$2.5 million six months earlier. Total equity increased by 31% to US$1.05 billion.
