BUZZ-Australia's Paladin Energy set for best week in 9 months on higher uranium output

Reuters

01/23

BUZZ-Australia's <a href="https://laohu8.com/S/PDN.AU">Paladin Energy</a> set for best week in 9 months on higher uranium output

** Shares of Paladin Energy PDN.AX rise nearly 20% so far this week to A$13.365, on track for their biggest weekly jump since the week ended April 26

** Uranium producer's stock jumped 13% on Wednesday after posting 16% sequential jump in Q2 production of uranium oxide (U3O8) from Langer Heinrich mine, Namibia

** Q2 sales volume was 1.43 million lb at $71.8/lb, vs 0.53million lb at $67.4/lb in Q1

** Expects FY production to trend towards the upper end of the guidance range of 4.0 to 4.4 million lb U3O8

** PDN down 0.1% on the day; YTD up about 39%

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))

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