PDN: +1.33%: Paladin has released its June quarter activities report showing good progress towards the restart of its Langer Heinrich uranium operation in Namibia which is now 60% complete, and importantly, on time and on budget (US$118m). Paladin is well capitalised with a cash balance of US$126m at Jun-23, while they are also beginning to ramp up exploration programs to provide growth options beyond the restart of Langer Heinrich.
- We think PDN is a stand-out in the sector on a risk-reward basis, with a well-defined pathway to production.
MM is bullish & long PDN in our Emerging Companies Portfolio
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