Paladin Energy reported a gain of US$92.2 million from a stockpile previously written down at the Langer Heinrich before the mine went into care and maintenance in 2018.
The company produced the first drums of uranium produced from the Langer Heinrich Mine in March 2024.
The first shipment, 319,229lb U3O8, departed Walvis Bay in July 2024.
The customer paid a partial advance payment under the terms of the customer offtake agreement of US$24.8 million received in July 2024
According to the Group’s annual report for 2024, on 30 June 2024, there was US$48.9 million in unrestricted cash and cash equivalents.
Unrestricted cash and cash equivalents decreased by US$77.8 million during the year.
The company enjoyed cash inflows from the Syndicated Debt Facility (US$70 million), interest received and other income (US$2.4 million) and the sale of investments from Lotus Resources (US$1.9 million).
Paladin Energy spent US$79.2 million on the restart project and US$34.5 million on operational expenditures.
Another US$15 million went to corporate and administration expenditures, and US$9.2 million was spent on mine development costs.
Exploration expenditures were US$5.9 million, transaction costs US$4.1 million, and interest expenses US$1.1 million on US$150 million.
Property, plant and equipment took US$2.2 million.
