Record Quarterly Production at Langer Heinrich
Achieved record quarterly production of 1.07 million pounds of uranium, the highest since the mine restart. Total material mined increased by 63% from the previous quarter.
Strong Financial Performance
Average realized price increased to $67.40 per pound, while unit production costs were $41.60 per pound. The successful completion of a fully underwritten $300 million equity raising provides balance sheet flexibility.
Safety and Environmental Milestones
Total recordable injury frequency rate of 3.2 per million hours worked, better than the company's safety target. No serious environmental or radiation incidents were reported.
Progress at Patterson Lake South (PLS) Project
Completion of a comprehensive review confirmed the robustness of the PLS project, advancing derisking development and operation. Appointment of Dale Huffman as President, Paladin Canada, to lead PLS development.