Chamwe Kaira
Paladin Energy Ltd has raised A$100 million (N$1.12 billion) through its oversubscribed share purchase plan to support the ramp-up of the Langer Heinrich Mine to full operations by the 2027 financial year.
The company will also use the funds for working capital and future exploration.
The uranium producer said it received overwhelming support from retail investors. The company had aimed to raise up to A$20 million under the non-underwritten offer priced at A$7.25 per share, but applications exceeded A$138 million. Paladin used its discretion to accept A$100 million in subscriptions.
The share purchase plan followed Paladin’s A$300 million fully underwritten institutional placement launched earlier to fund key growth projects.
Proceeds from that raise will go toward advancing the Patterson Lake South project in Canada to a final investment decision and supporting Langer Heinrich’s ramp-up to full operations.
Due to strong demand, Paladin scaled back applications on a pro rata basis according to shareholder holdings as of 15 September 2025.
Eligible shareholders received allocations ranging between A$1 000 and A$30 000 in new shares.
Paladin said a total of 13.79 million new fully paid ordinary shares will be issued on 16 October 2025, with trading on the ASX starting on 17 October. Holding statements and refunds for unallocated funds will be dispatched around 21 October.
The company urged shareholders to update their bank and contact details with Computershare Investor Services to ensure prompt refund processing.
Paladin said the strong uptake reflects continued confidence from retail investors as it advances its uranium projects in Namibia and Canada.
Output at Langer Heinrich reached 1,066,496 pounds of uranium oxide during the quarter ending 30 September, up from 993,843 pounds in the previous quarter. The company described the performance as evidence of “increasing operational strength and capability” as it moves toward full-scale production.
Sales for the quarter totalled 533 789 pounds of uranium oxide at an average realised price of US$67.40 per pound, compared to US$55.60 per pound in the previous quarter.
Sales volumes were affected by a shipping delay, with one delivery moved to the next quarter.
Caption
Billions have been raised on the Australian Stock Exchange for the expansion of Langer Heinrich.
- Photo: Contributed
