Paladin eyes $50/lb pricepoint for restart

KALGOORLIE (miningweekly.com) – Uranium company Paladin Energy is awaiting a spot price of $50/lb or more for uranium before restarting its Langer Heinrich uranium operations, in Namibia.

Speaking on the sidelines of the Diggers & Dealers conference, Paladin CEO Ian Purdy noted that the current spot market price was not sufficient to tempt the company into restarting production. “The price isn’t there, and we will not restart early. We will not go back into operation until we can make decent returns. We are not being greedy, we just need a decent return to our mining operation.”

Purdy said that while an increase in the spot price could not be timed, there were indications that a market shift was imminent, as major producers were cutting back on production and global stockpiles were dwindling. “You can’t outrun the math. There is a 20-million- to 40-million-pound deficit right now, and no one can tell […]

Click here to view original web page at www.miningweekly.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.