Langer Heinrich Mine FY2026 Guidance

Core Viewpoint - Paladin Energy Ltd has provided guidance for FY2026 regarding the Langer Heinrich Mine (LHM), highlighting operational ramp-up, production expectations, and uranium price sensitivities based on its sales contract portfolio [1][2]. Production Guidance - The LHM is expected to produce between 4.0 million pounds (Mlb) and 4.4 Mlb of U3O8 in FY2026, with sales projected between 3.8 Mlb and 4.2 Mlb [3]. - The cost of production is estimated to be between $44 and $48 per pound [3]. - Capital and exploration expenditure is forecasted to be between $26 million and $32 million [3]. Mining Operations - The LHM commenced FY2026 with approximately 2.2 million tonnes (Mt) of stockpiled medium-grade ore and 49% of its planned mining fleet capacity operational [4]. - The remaining mining fleet is expected to be delivered in late 2025 and operational in the second half of FY2026 [4]. - Mining activities will focus on the G-pit area, with minor activities in the F and J pits towards the end of the financial year [4]. Ore Processing - Production volumes are anticipated to vary throughout FY2026, primarily due to limited access to primary mined ore in the first half [6]. - A higher level of primary ore feed is expected in the second half, leading to increased production [6]. - Improvements in processing plant performance from FY2025 are expected to be maintained in FY2026 [7]. Sales and Pricing - Paladin plans to continue uranium deliveries to customers in the US, Europe, and Asia, while seeking new contracts with high-quality counterparties [8]. - Sales volumes and pricing are expected to fluctuate quarterly based on shipment timing and contract terms [8]. - Forecasted realised uranium prices for FY2026 under various spot price assumptions are as follows: - At a $40 spot price, the realised price is expected to be $54 per pound - At a $60 spot price, the realised price is expected to be $62 per pound - At a $80 spot price, the realised price is expected to be $71 per pound - At a $100 spot price, the realised price is expected to be $79 per pound - At a $120 spot price, the realised price is expected to be $87 per pound - At a $140 spot price, the realised price is expected to be $94 per pound [10].