Paladin Energy Ltd. reported its first positive operating cash flow in FY2026 as the company completed the ramp-up of its Langer Heinrich Mine in Namibia and advanced key development projects. The uranium producer posted full-year revenue of $304.3 million, up 71% from $177.7 million in FY2025, while operating cash flow reached $37.7 million compared with a negative $3.8 million in the prior year.
Net loss after tax narrowed to $9.1 million from $76.5 million a year earlier, reflecting improved operational efficiency and higher realized prices. The average realized uranium price increased 7% to $70.0 per pound, supported by a 61% rise in sales volumes to 4.35 million pounds. Gross profit totaled $52.2 million, a reversal from a $26.1 million loss in FY2025. Production at Langer Heinrich surged 60% to 4.82 million pounds of U₃O₈, while total material mined jumped to 24.41 million tonnes, up from 3.23 million tonnes in FY2025.
The company’s cash position strengthened significantly, with closing cash and investments at $265 million, up from $89 million at the start of the fiscal year. Net cash ended at $233.0 million, compared with $2.5 million at the beginning of FY2026. Paladin raised $257 million in net proceeds from an equity offering and share purchase plan, while repaying $62 million in debt obligations and interest. Capital expenditure at Langer Heinrich totaled $15 million, with an additional $41 million allocated to the Patterson Lake South project and exploration activities.
Operational improvements included a 7-percentage-point increase in plant recovery rates to 90%, alongside a 14% improvement in ore feed grade to 498 parts per million. Tonnes processed rose 31% to 4.76 million tonnes, while the Group Total Recordable Injury Frequency rate stood at 3.2 per million hours worked. Langer Heinrich maintained 99% Namibian national employment and invested $550,000 in community programs across Namibia and Canada.
Looking ahead, Paladin guided FY2027 production to 5.1–5.6 million pounds of U₃O₈, with sales expected at 4.8–5.3 million pounds. Cost of production is forecast at $44–48 per pound, while capital expenditure is projected at $29–35 million. The company also highlighted progress on regulatory milestones, including sufficiency achieved for key licensing applications and high-grade uranium discoveries at the Atlas project. Paladin’s shares rose 3.26% to $12.35 following the presentation.
