Paladin Releases Financial Report for Second Half of 2014

Paladin Energy Ltd. (TSX:PDN,ASX:PDN) announced its financial report for the second half of 2014, which shows sales revenue of US$108.6 million from 3.1612 million pounds of U308, down 36 percent from the same period in 2013.

Some of the highlights of the report include:

OPERATIONS

• Langer Heinrich Mine (LHM) produced 1.304Mlb U3O8 for the three months ended 31 December 2014, up 27% from the last quarter.
• C1 cost of production(1): LHM C1 unit cost of production for the quarter decreased by 14% from US$35.1/lb in the September 2014 quarter to US$30.2/lb in the December 2014 quarter.
• FY2015 production guidance revised to 5.2 – 5.5Mlb U3O8.

SALES AND REVENUE

• Sales revenue of US$108.6M for the six month period ended 31 December 2014, selling 3.161Mlb U3O8.
• The average realised uranium sales price for the six months was US$34.35/lb U3O8compared to the average UxC spot price for the period of US$34.30/lb U3O8.
• Uranium spot price continued to demonstrate significant volatility, having risen from US$28.10/lb in mid-CY2014, reaching US$44.00/lb by the middle of November 2014 and declining to US$35.50/lb at 31 December 2014. During CY2015, the spot price has risen to US$38.25/lb at 10 February 2015.
• Japan reactor restart programme continued to make progress.

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