General Announcement::Quarterly Activities Report for the Period Ending 30 June 2014

Issuer & Securities

Issuer/ Manager
PALADIN ENERGY LTD
Securities
PALADIN US$274M6%CB170430 - XS0775195562 - 2CKB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-Jul-2014 15:59:57
Status
New
Announcement Sub Title
Quarterly Activities Report for the Period Ending 30 June 2014
Announcement Reference
SG140728OTHRS6OR
Submitted By (Co./ Ind. Name)
Paladin Energy Ltd
Designation
Felicity Evans
Effective Date and Time of the event
29/07/2014 08:00:00
Description (Please provide a detailed description of the event in the box below)
HIGHLIGHTS

Langer Heinrich minority Joint Venture US$190M sale successfully completed.
- CNNC now formally in joint venture with Paladin.
- Balance of US$170M paid 23 July 2014.

Strong production for FY14 and guidance met.
- Combined production of 7.943Mlb (3,603t) U3O8 down 3.8% from FY13 and at the upper end of stated guidance (7.8Mlb to 8.0Mlb).
- Langer Heinrich produced a record 5.592Mlb (2,537t) U3O8 up 5.7% from FY13.
- Kayelekera produced 2.350Mlb (1,066t) U3O8 down from FY13 due to the implementation of Care and Maintenance.

Langer Heinrich produced 1,338,831lb (607t) U3O8 for the June quarter.
- Recovery for the quarter was steady at 85.6%.
- Feed grade for the quarter was 781ppm U3O8.

Kayelekera produced 262,060lb (119t) U3O8 for the June quarter.
- Recovery for the quarter was 88.5%.
- Production ceased on 6 May, plant clean out was completed on 23 May and the project is now on Care & Maintenance.

Michelin Project.
- Positive mineral resource update with 25% increase in Measured and Indicated Resources.

Attachments

14.07.28_Quarterly_Activities_Report_for_the_Period_Ending_30_June_2014.pdf
Total size =466K