Financial Statements and Related Announcement::First Quarter Results

Issuer & Securities

Announcement Title: Financial Statements and Related Announcement
Date &Time of Broadcast: 12-Nov-2014 15:49:32
Status: New
Announcement Sub Title: First Quarter Results
Announcement Reference: SG141112OTHRODTO
Submitted By (Co./ Ind. Name): Paladin Energy Ltd
Designation: Felicity Evans
Effective Date and Time of the event: 17/10/2014 17:00:00
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format): Quarterly Activities Report
HIGHLIGHTS
Langer Heinrich minority joint venture US$190M sale completed.

Langer Heinrich production post quarter is back on track. As signalled on 16 September, production for the September quarter of 1,027,033lb (466t) U3O8 was 23% below the previous quarters production largely because of planned maintenance delays (15%), but these were exacerbated by issues associated with unforeseen processing circuit scaling.

Kayelekera orderly transition from production to care and maintenance successfully completed.

Paladin continues to focus on the capital structure, with the aim of deleveraging the balance sheet.

Uranium spot price increased significantly during the quarter, reflecting tightness in product available in the spot market influenced largely by the production cutbacks in FY2014.

Total size =407K