Chamwe Kaira
Paladin Energy, whose only operating mine is the Langer Heinrich in Namibia, has opened its share purchase plan (SPP) to shareholders with registered addresses in Australia or New Zealand, excluding those in the United States.
The company is listed in Australia and has a dual listing on the Namibian Stock Exchange (NSX).
Eligible shareholders may apply for up to A$30,000 worth of new fully paid ordinary shares without broking or other transaction costs. The SPP offer closes on 9 October. Paladin is seeking to raise up to A$20 million.
The SPP follows the company’s launch of a A$300 million institutional capital raising announced on 16 September.
Paladin said the fully underwritten equity raising is aimed at providing balance sheet flexibility as it advances the Patterson Lake South (PLS) Project towards a Final Investment Decision (FID) and continues ramping up operations at Langer Heinrich.
The capital raising includes an A$231 million fully underwritten institutional placement on the Australian Stock Exchange (ASX), a Canadian bought deal private placement of A$33 million, and a fully underwritten sale of about A$36 million of existing Paladin shares acquired through its purchase of Fission Uranium Corp.
Paladin said proceeds from the raising will be directed towards several near-term priorities.
These include completing Front-End Engineering Design (FEED) for the PLS Project in 2026, detailed design work for Canadian Nuclear Safety Commission (CNSC) approvals, and early site works such as ordering long-lead construction items.
Funds will also go towards permitting processes, First Nations and community engagement, and expanding the Paladin Canada team.
The company said further investment will be made in infill and exploration drilling at both the PLS Project and the Langer Heinrich Mine during the 2026 financial year.
The raising will also support exploration activities at PLS, while providing working capital during the ramp-up of Langer Heinrich operations, which are expected to reach full mining and processing capacity by the 2027 financial year.
