PDN +10.06%: Today released its December Quarter ‘24 operations update, well received by the market as lower production estimates in analyst numbers were clearly overdone.
Key highlights:
- Uranium production of 638klb
- Ore recovery averaging ~88% in December, 309klb produced in the month
- No ongoing water deliverability issues
- Cash-flow positive quarter of US$43.3m
Alongside the production numbers, we had news out of the U.S that President Trump’s administration and tech majors OpenAI, Softbank and Oracle would spend circa. US$500bn on AI infrastructure which likely includes nuclear energy infrastructure.
As we’ve written about on numerous occasions, AI and data centres are increasingly correlated with nuclear energy given the immense power requirements – the market is expecting this to feed straight through to uranium demand. All Aussie uranium boats are rising today, but we like Paladin given its exposure to the spot market and now more diversified operations after the Fission acquisition.
- We hold PDN in both our Active Growth and Emerging Companies portfolios.
MM remains long and bullish PDN
Add To Hit List
