Paladin Energy’s Langer Heinrich Mine in Namibia produced 4.82 million pounds of uranium oxide in FY2026, contributing to a 71% increase in the company’s sales revenue to US$304.3 million as the operation completed its ramp-up, according to the company’s latest financial results.
Paladin said the mine’s production was at the upper end of its guidance range for the financial year ended 30 June 2026, while uranium sales reached 4.35 million pounds at an average realised price of US$70.00 per pound, up 7% from US$65.70 per pound in FY2025.
The company said Langer Heinrich’s production and sales performance was central to its improved FY2026 financial results, with higher uranium volumes and realised prices supporting revenue, gross profit and cash generation.
“FY2026 financial performance reflected the successful ramp-up of LHM with higher uranium production and sales volumes driving a significant increase in revenue. Sales revenue increased to US$304.3M (FY2025: US$177.7M), supported by sales of 4.35Mlb U3O8 at an Average Realised Price of US$70.0/lb,” Paladin Energy said.
According to Paladin, the cost of production stood at US$43.30 per pound, compared with US$40.20 per pound in FY2025, while the cost of sales increased by 30% to US$250 million, reflecting higher sales volumes.
“The improved operating performance resulted in a gross profit of US$52.2M, compared with a gross loss of US$26.1M in FY2025,” the company said.
Paladin reported that its net loss after tax narrowed to US$9.1 million from US$76.5 million in the previous financial year, attributing the improvement largely to a stronger earnings contribution from Langer Heinrich.
“The improvement was driven by stronger earnings contribution from LHM, partially offset by an US$8.6M increase in general administration costs associated with the increased scale and complexity of the business, and a US$6.1M impairment of exploration assets, US$5.7M of which relates to the rationalisation of Michelin Project tenements,” Paladin said.
The company said its improved financial performance also strengthened its liquidity position, with unrestricted cash and investments increasing to US$265 million at year-end from US$89 million a year earlier.
According to Paladin, the balance comprised US$151.9 million in cash and cash equivalents and US$113 million in short-term investments. The company also had US$32 million outstanding under its Term Loan Facility and an undrawn US$70 million revolving credit facility.
“Total unrestricted cash and investments increased to US$265.0M at year end (30 June 2025: US$89.0M) and comprised US$151.9M of cash and cash equivalents and US$113.0M of short-term investments,” Paladin Energy said.
Paladin said the Namibian operation’s performance also supported a turnaround in operating cash flow, which reached US$37.7 million during FY2026, compared with an outflow of US$3.8 million in FY2025.
The company reported that it ended the financial year with net cash of US$233 million, compared with US$2.5 million a year earlier, reflecting its strengthened financial position following the ramp-up of Langer Heinrich.
