Update ON the Langer Heinrich MINE and Production Guidance
Level 11, 197 St Georges Terrace
PO Box 8062
Cloisters Square PO WA 6850
+61 8 9423 8100
paladinenergy.com.au
PALADIN ENERGY LTD
ABN 47 061 681 098
ASX:PDN, TSX:PDN
OTCQX: PALAF
ASX Announcement
26 March 2025
UPDATE ON THE LANGER HEINRICH MINE AND PRODUCTION GUIDANCE
Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) ( Paladin or the Company ) advises that
operations have resumed at the Langer Heinrich Mine (LHM) following the temporary suspension due
to a significant weather event1.
Unseasonal heavy rainfall has occurred in Namibia , with the LHM experiencing a one -in-fifty-year
rainfall event. This impacted the Company’s plans to accelerate the commencement of mining and
resulted in short -term disruptions to operations . These included the transport of people to site,
restricted feed to the crushers due to the saturation of stockpiled ore, and excess surface water
restricting safe access to the processing plant.
Whilst there appears to be no significant damage to the processing plant and our people are safe, there
was damage to the access roads and minor civil infrastructure on the LHM site, and to the haul roads
to the mine. Access to the LHM has now been re -established and processing plant operations have
resumed. Paladin expects the processing plant to return to normal operation as the in-circuit inventory
and chemistry stabilises and stockpiled ore saturation levels decrease.
The Company was advancing the early commencement of mining to access higher grade ore. The rain
across Namibia has delayed the mobilisation of key mining equipment and personnel to site and has
resulted in water ingress into the open mining pits. Whilst onsite pumping infrastructure is adequate
to de-water the pits, access to the pits to commence mining is likely to be delayed.
The disruption to early commencement of mining, together with the short- term impact of the
suspension of operations, and the difficulties associated with processing saturated stockpiled ore, has
resulted in Paladin withdrawing production guidance for FY2025.
Paladin still expects to improve production levels in the second half of CY2025 with the blending of ore
from the open pit mines. However, the disruption to the anticipated start of mining means that the
Company does not expect the LHM to achieve nameplate run -rate guidance of 6Mlb by the end of
CY2025. The acceleration of mining was a key initiative in offsetting the underperformance of stockpile
ore and achieving nameplate production.
The LHM team continues to drive operational improvements and progress the advancement of mining.
Improved water supply outcomes and strong levels of plant recoveries have provided a platform for
improving plant production. Despite the delays and disruptions, the preferred minin g contractor,
1 Refer to Paladin’s ASX Announcement titled “Unseasonal rains impact the Langer Heinrich Mine” dated 21 March 2025,
available at https://www.paladinenergy.com.au/investors/asx-announcements/.
Trollope Mining, has commenced mining equipment mobilisation and the recruitment and training of
operators. All mining permits are in place and the blasting contractor has completed mobilisation.
The Company will provide further details of production and mining in the March 2025 Quarterly Activities
Report in April 2025 and looks forward to providing guidance for FY2026 with the release of its FY2025
financial results in August 2025.
Paladin will hold a conference call today, Wednesday 26 March 2025, at 9.30am AEDT2 (Tuesday, 25
March 2025 , at 6.30pm E DT3). To participate in the live teleconference, please register at the link
below:
https://s1.c-conf.com/diamondpass/10046354-u7y6t5.html
Please note it is recommended to log on at least five minutes before the scheduled commencement
time to ensure you are registered in time for the start of the call.
A recording of the call will be available on Paladin’s website shortly after its conclusion.
This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd
For further information contact:
Investor Relations
Head Office
Paula Raffo
Paladin Investor Relations
T: +61 8 9423 8100
Canada
Bob Hemmerling
Paladin Investor Relations
T: +1 250-868-8140
Media
Australia
Sara Murray
Clarity Communications
T: +61 420 741 171
Canada
Ian Hamilton, Partner
FGS Longview
T: +1 905-399-6591
2 AEDT: Australian Eastern Daylight Time (Sydney time)
3 EST: Eastern Daylight Time (Toronto time)
Cautionary Note Regarding Forward Looking Statements
This announcement contains certain "forward looking statements" within the meaning of Australian
securities laws and "forward looking information" within the meaning of Canadian securities laws
(collectively referred to as "forward looking statements"). All statements, other than statements of
historical fact, that address circumstances, events, activities or developments that could, or may or
will occur are fo rward looking statements. Forward looking statements involve subjective judgment
and analysis and are subject to significant uncertainties, risks and contingencies including those risk
factors associated with the mining industry, many of which are outside the control of, change without
notice, and may be unknown to Paladin. These risks and uncertainties include but are not limited to
liabilities inherent in mine development and production, geological, mining and processing technical
problems, the inability to obtain any additional mine licences, permits and other regulatory approvals
required in connection with mining and third party processing operations, competition for amongst
other things, capital, acquisition of reserves, undeveloped lands and skilled p ersonnel, incorrect
assessments of the value of acquisitions, changes in commodity prices and exchange rates, currency
and interest fluctuations, various events which could disrupt operations and/or the transportation of
mineral products, including labour stoppages and severe weather conditions, the demand for and
availability of transportation services, the ability to secure adequate financing and management's
ability to anticipate and manage the foregoing factors and risks.
Forward looking statements can generally be identified by the use of forward -looking words such as
"anticipate", "expect", "likely", "propose", "will", "intend", "should", "could", "may", "believe",
"forecast", "estimate", "target", "outlook", "guidance" (including negative or grammatical variations)
and other similar expressions. No representation, warranty, guarantee or assurance, express or
implied, is given or made in relation to any forward-looking statement. In particular no representation,
warranty or assumption, express or implied, is given in relation to any underlying assumption or that
any forward-looking statement will be achieved. There can be no assurance that the forward -looking
statements will prove to be accurate. Actual and future events may vary materially from the forward-
looking statements and the assumptions on which the forward -looking statements were based,
because events and actual circumstances frequently do not occur as forecast and future results are
subject to known and unknown risks such as changes in market conditions and regulations.
Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking
statements, and should rely on their own independent enquiries, investigations and advice regarding
information contained in this announcement. Any relianc e by a reader on the information contained
in this announcement is wholly at the reader's own risk.