Paladin Energy Limited (PDN) is a uranium producer and exploration company with projects currently in Australia, Canada, and Africa. The Langer Heinrich Mine in Namibia is its flagship project. With the company aiming to take part in the forecast uranium boom, as nations shift toward nuclear power to replace fossil fuel power plants.

Investment Summary

Paladin Energy ltd is an established company with a capable and advantageous resource. It does not currently provide dividends, as it seeks to reestablish its projects, and diversify its mine portfolio. PDN's strong connection to the Uranium price provides a buffer however, until it returns to operations.

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Paladin Energy ltd current operations

The Langer Heinrich mine, located in Namibia, was first in production back in 2007 with peak production of 5.6m pounds of ore a year, before operations were suspended in 2018 due to low uranium prices. Since then, an extensive care and maintenance investment program has kept the mine well maintained, ready for restart. In June 2020 Paladin Energy announced a low risk mine restart plan, linked to the rising Uranium price. and in 2022 a Final Investment Decision was made to restart it, the mine being on track to restart by early 2024. Important advantages of this mine is its low capital cost, large resource and deposit, and its location in an established brownfield area, with a future mine Life of 17 years, alone forming 4% of the worlds Uranium production.

Further Operations

Paladin Energy has also focused on uranium exploration, exploring three prospective sites for new projects:

• The Michelin project in Labrador, Canada, which consists of six deposits, with 127.7mlb of mineral resources

• The Manyingee Project in Western Australia, which has 41Mlb across two deposits, and is amenable to ISR extraction

• The Mount Isa Project in Queensland, Australia, which has 148.3Mlb or mineral resource, and is the largest deposit in the state

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