One of the best growth stocks, it has been hammered by an unusual rain event, and available at lowest price in a year.
Paladin Energy Limited (ASX: PDN)
Paladin Energy Limited (ASX: PDN), on 26 March 2025, provided an update regarding the operations at the Langer Heinrich Mine (LHM) following a temporary suspension caused by unseasonal heavy rainfall in Namibia. The site experienced a one-in-fifty-year weather event, leading to disruptions such as difficulties in transporting personnel, saturation of stockpiled ore affecting crusher feed, and restricted access to the processing plant due to excess surface water. While the processing plant sustained no significant damage, access roads and minor civil infrastructure at the mine site were impacted, leading to delays in operations.
Paladin Energy Ltd, earlier on 21 March 2025, had announced that the Langer Heinrich Mine got impacted by unseasonal heavy rains in Namibia. Because of the weather event, access to the mine had been impacted and all operations were temporarily suspended. The full impact of the weather event and disruption to production were to be assessed after stabilising of the conditions.
Paladin had planned to accelerate mining to access higher-grade ore; however, delays in mobilizing key mining equipment and personnel, along with water ingress into open pits, have postponed the commencement of mining. While de-watering infrastructure is in place, the company anticipates further delays in accessing the pits, which has resulted in the withdrawal of its production guidance for FY2025. Despite these challenges, Paladin remains optimistic about improving production levels in the second half of 2025 as ore blending from open-pit mines progresses.
Operational improvements continue to be a focus, with strong plant recoveries and improved water supply outcomes contributing to production stability. The preferred mining contractor, Trollope Mining, has begun mobilizing equipment and recruiting personnel, and all necessary mining permits are in place. The company aims to provide further production and mining updates in its March 2025 Quarterly Activities Report, with FY2026 guidance expected alongside its FY2025 financial results in August 2025.
(Source: Company's Report)
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