Uranium miner Paladin Energy Ltd (ASX:PDN) was a standout on Wednesday after signalling full-year output is tracking towards the upper end of its 4 million to 4.4 million pounds production guidance.
Shares were up 13.14% at market close, extending the stock’s gains to well over 60% over the past six months.
Paladin said uranium production increased 15% quarter-on-quarter to 1.23 million pounds, while sales more than doubled to 1.43 million pounds from 533,789 pounds in the prior quarter.
Average realised price rose to US$71.8 per pound in the December quarter, up from US$67.4 per pound in September.
“As global interest in nuclear energy continues to strengthen, I am delighted by our progress in ramping up operations at Langer Heinrich mine,” chief executive Paul Hemburrow said.
“The new level of production achieved during the quarter provides insight into the robust performance that can be achieved from this strategic uranium asset. Our site team’s goal is to continue delivering a consistent operational performance for the remainder of this financial year,” he said.