Paladin Energy Reports Releases Quarterly Activities Report

Energy Investing

Paladin Energy Ltd. (TSX:PDN,ASX:PDN) provided its quarterly activities report for the three months ended June 30, 2014. Highlights included the completion of the Langer Heinrich minority Joint Venture US$190 million sale, strong FY14 production and a 25 percent increase in Measured and Indicated resources for the Michelin project.

Paladin Energy Ltd. (TSX:PDN,ASX:PDN) provided its quarterly activities report for the three months ended June 30, 2014. Highlights included the completion of the Langer Heinrich minority joint venture US$190 million sale, strong FY14 production results and a 25 percent increase in Measured and Indicated resources for the Michelin project.

As quoted in the press release:

Sales for the quarter were 1,811,841lb U3O8 generating revenue of US$69.28M, representing an average sale price of US$38.24 U3O8 (average weekly Ux spot price for the quarter was $29.65/lb U3O8).
Sales for the year ending 30 June 2014 (FY14) were 8,665,264lb U3O8 generating revenue of US$328.84M representing an average sales price of US$37.95. Sales volume increased 5% against FY13 deliveries and revenue decreased 19% compared to FY13 (average Ux spot price for FY14 was US$33.88/lb U3O8).

Click here to read the Paladin Energy Ltd. (TSX:PDN) press release