Paladin Energy Ltd

Paladin Energy Ltd

September 16, 2014 07:37 ET

Paladin Energy Ltd: Lower Forecasted September Quarter Production

PERTH, WESTERN AUSTRALIA--(Marketwired - Sept. 16, 2014) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") advises that the September quarter production was anticipated to have a 15% shortfall due to annual scrubber maintenance, the ion exchange resin changeover (already announced) and dealing with the unexpected plant scaling problem identified late in the June quarter as also previously advised.

Due to the scaling issue being more extensive than originally thought and the resin change taking longer than anticipated (the first such change undertaken in the NIMCIX - fluidised bed circuits), production for the September quarter is expected to be affected by a further estimated 5% to 7.5%.

The scale has now been brought under control and management strategies to avoid a repeat of the problem have been successfully introduced. Production guidance for FY15 remains at 5.4Mlb to 5.8Mlb U3O8.

ACN 061 681 098

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