2156 GMT - Paladin Energy's stock has rebounded some 50% since its 3Q operating report, which was unexpectedly strong and helped to soothe concerns around the rampup of the Langer Heinrich uranium mine in Namibia. Paladin has experienced setbacks at Langer Heinrich, most recently heavy rain. "In our view the market massively overreacted to the short-term Langer Heinrich commissioning issues, and the share price bounce is indicative of that," Shaw & Partners analyst Andrew Hines says. The Langer Heinrich plant was running exceptionally well prior to the downpour. Also, water availability issues have been fixed, and the early start to mining mitigates the low grades on the stockpiles, Shaw says. "There is no balance sheet stress, and delivery of sales into the contract book is not an issue," the bank adds. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 04, 2025 17:56 ET (21:56 GMT)
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