ASX uranium stocks, Paladin, Deep Yellow surge backed by initiatives for new nuclear reactors

ASX uranium companies climbed on Monday after the news that Duke Energy Corporation (NYSE: DUK) has filed an early site permit application to build a new nuclear reactor in the US state of North Carolina which strengthened expectations for long-term uranium demand.

Paladin Energy Limited (ASX: PDN) 

jumped more than 7% on Monday and delivered a strong September quarter as total material mined rose by 63% quarter-on-quarter which resulted in record quarterly production of 1.07 million pounds of uranium oxide.
An important milestone during the period was the completion of a detailed engineering review for the Patterson Lake South project which validated the technical quality of the asset and lowered development risk.

The company had unrestricted cash and investments to US$269.4 million at quarter end and access to an undrawn US$50 million revolving credit facility.

Profitability improved as uranium was sold at an average realised price of US$67.4 per pound compared with unit production costs of US$41.6 per pound.

Bannerman Energy Limited (ASX: BMN)

rose more than 6% on Monday and is well positioned to benefit from long-term demand for nuclear power.
In the September 2025 quarter, the company advanced development at its Etango Uranium Project in Namibia and detailed engineering for the dry plant reached 86% completion.

A key achievement during the period was the execution of two binding offtake agreements with Tier 1 North American utilities as they covered a combined 1 million pounds of Uranium Oxide for delivery between 2029 and 2033.

Bannerman closed the quarter with a robust cash position of $111.8 million and has an additional $13.1 million in liquid assets which gives them the ability to fund growth without any pressure.

Deep Yellow Limited (ASX: DYL)

surged more than 4% on Monday and delivered a highly active September 2025 quarter as its flagship Tumas Project in Namibia continued to show impressive progress.

A key recent development was the discovery of higher-grade uranium mineralisation at the nearby S-Bend prospect where drilling intersected several near-surface zones which enhanced the potential to expand resources.
The company ended the quarter with a strong cash position of $203.5 million and is focused on detailed project design while finalising power and water supply agreements for the Tumas Project.

The project is on schedule to achieve targeted first production in the third quarter of calendar year 2027.

Lotus Resources Limited (ASX: LOT) 

gained more than 9% on 5 January and achieved an important operational milestone in the September 2025 quarter with the successful production of its first yellowcake at the Kayelekera uranium mine in Malawi.

The company ended the quarter with a solid cash balance of $96.7 million and 50-65% of nameplate throughput level is being targeted for January 2026.

Capital spending increased as expected during the ramp up phase with funds allocated to restart work and build essential infrastructure.

The operation is on track to reach its targeted steady state output of around 2.4 million pounds per year.

(Source: Company Reports)