Paladin Energy (PDN.TO) after markets closed on Thursday provided an operations and guidance update for the Langer Heinrich Mine (LHM) in advance of its March 2026 quarterly report, which is scheduled for release on April 22, 2026.
The company said as a result of the strong performance in the first nine months of FY2026, it has revised its FY2026 guidance.
According to PDN, the LHM ramp-up and transition to full mining operations has "progressed well" during the first nine months of FY2026. "The combination of successful mobilisation of the mining fleet, improved feed grade and high recovery rates from the processing plant have resulted in year-to-date FY2026 production of 3.6Mlb U3O8," it said.
This prompted Paladin to revise its FY2026 guidance.
PDN said LHM recorded 3.0 million pounds (Mlb) U3O8 in sales in the first nine months of FY2026, and its full year sales guidance remains unchanged.
It added cost of production is expected to materially align with previous guidance pending duration of the current conflict in the Middle East and any further associated impacts on forecast cost.
Meantime, the capital and exploration expenditure guidance range has been reduced to US$15M to US$17M (previously US$26M to US$32M) due to reprioritisation and deferral of capital and exploration expenditure.
The revised guidance is based on current operating conditions and assumptions and may be impacted by disruptions arising from current geopolitical events. Paladin is closely monitoring the potential impact of these events.
Paladin continues to expect LHM to transition to full mining and processing plant operations by the end of FY2026.
Shares in PDN rose 1% in Canada yesterday.