CHAMWE KAIRA
Paladin Energy Ltd reported a significant improvement in its financial performance for the year ended 30 June 2026, supported by higher uranium production and sales from its 75%-owned Langer Heinrich Mine in Namibia.
Paladin said in its 2026 Annual Report, that it recorded a net loss after tax of US$9.1 million (N$145m) for 2026 financial year, compared with a loss of US$76.5 million in 2025.
Paladin said the improvement reflected the successful ramp-up of the Langer Heinrich Mine (LHM), which produced 4.82 million pounds of uranium oxide (U₃O₈) during the financial year, at the upper end of its guidance range.
Sales revenue increased 71% to US$304.3 million from US$177.7 million a year earlier. The increase was driven by uranium sales of 4.35 million pounds at an average realised price of US$70.0 per pound, compared with US$65.7 per pound in 2025.
The company’s cost of production rose to US$43.3 per pound from US$40.2 per pound, although Paladin said this was at the lower end of its guidance range.
Cost of production increased 62% to US$208.9 million, while cost of sales rose 30% to US$250 million, reflecting the higher sales volumes during the year.
Paladin reported a gross profit of US$52.2 million, compared with a gross loss of US$26.1 million in 2025.
The company said the stronger earnings contribution from LHM was partly offset by an US$8.6 million increase in general administration costs associated with the increased scale and complexity of the business.
The results were also affected by a US$6.1 million impairment of exploration assets, of which US$5.7 million related to the rationalisation of tenements at the Michelin Project.
Paladin’s cash position strengthened substantially during the year. Total unrestricted cash and investments stood at US$265 million at 30 June 2026, up from US$89 million a year earlier.
The balance comprised US$151.9 million in cash and cash equivalents and US$113 million in short-term investments.
Cash flows from operating activities improved to an inflow of US$37.7 million, compared with an outflow of US$3.8 million in 2025.
At year-end, Paladin had US$32 million outstanding under its Term Loan Facility, while its US$70 million Revolving Credit Facility remained undrawn.
The company therefore reported net cash of US$233 million at 30 June 2026, compared with net cash of US$2.5 million at the end of FY2025.
Paladin owns a 75% interest in the Langer Heinrich Mine in Namibia, which is one of the company’s key operating assets.
The company also has uranium development and exploration interests in Canada and Australia.
