The Langer Heinrich Uranium Mine generated US$35.9 million (about N$682 million) in sales during the quarter ended 30 September 2025, anchoring Paladin Energy Limited’s performance and helping the group triple its cash reserves to US$249 million (N$4.7 billion).
According to the company’s unaudited results, Langer Heinrich accounted for all of Paladin’s revenue in the period and delivered a segment profit before interest and tax of US$1.8 million (N$34 million).
Gross profit across the group rose to US$7.9 million (N$150 million) from US$3.9 million (N$74 million) a year earlier, reflecting improved production efficiency and lower costs at the Namibian operation.
Group revenue declined from US$43.8 million (N$832 million) to US$35.9 million (N$682 million), while the consolidated net loss after tax narrowed to US$9.9 million (N$188 million), compared with US$10.4 million (N$198 million) in the same quarter of 2024.
Paladin said performance at Langer Heinrich offset exploration spending in Canada and corporate costs in Australia.
During the quarter, the company completed a fully underwritten A$300 million (about N$3.4 billion) equity raising, supported by institutional placements in Australia and Canada, as well as the sale of treasury shares.
The proceeds are being used to fund the ramp-up of Langer Heinrich and advance the Patterson Lake South uranium project in Canada.
Cost of sales fell to US$28.1 million (N$534 million) from US$39.9 million (N$758 million). In comparison, inventories at Langer Heinrich increased to US$144 million (N$2.7 billion), up from US$104 million (N$2.0 billion) in June, reflecting higher ore stockpiles and work-in-progress as operations move toward steady-state production.
Namibian assets accounted for 41 per cent of Paladin’s total group holdings, valued at US$538 million (N$10.2 billion), underscoring the country’s strategic importance within the company’s portfolio.
Paladin maintained compliance with its US$150 million (N$2.85 billion) debt facility with Nedbank and Macquarie Bank and retained an additional US$50 million (N$950 million) in undrawn credit.
Two shareholder class actions filed in Australia earlier this year remain before the courts, but Paladin indicated they are not expected to affect its Namibian operations. Langer Heinrich, which restarted production in early 2025, continues to underpin Paladin’s growth outlook and is expected to reach full operating capacity during 2026 as uranium market fundamentals strengthen.
