0002 GMT - Paladin Energy will struggle to achieve annual guidance for production from its Langer Heinrich mine in Namibia, reckons Macquarie. Paladin is targeting output of 4.0 million-4.5 million pounds of U3O8, a common compound of uranium, in FY 2025. But the company has faced some setbacks recently, and will shut the mine for two weeks in November. Macquarie cuts its forecast for Langer Heinrich output to 3.5 million pounds. It says the operation would need to run at more than 85% of nameplate capacity in 3Q and 4Q to hit the bottom end of Paladin's guidance range. "This is possible, but looks less probable now to us, given stockpile feed grade variability and a number of plant adjustments and bottlenecks that will need to be dealt with," Macquarie says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 28, 2024 20:02 ET (00:02 GMT)
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