Paladin secures A$300m for project development

Paladin Energy Ltd has completed an A$300 million equity raising through an ASX institutional placement, a Canadian "bought deal" private placement, and a Treasury Share Sale. The ASX Placement raised approximately A$231 million from 31.9 million new shares priced at A$7.25 per share. The TSX Bought Deal secured C$30 million from 4.5 million new shares at C$6.66 per share, and the Treasury Share Sale added approximately A$36 million from 5.0 million shares at A$7.25 per share.

The raising saw strong demand from new and existing investors globally. These proceeds will primarily be allocated to advancing the Patterson Lake South Project (PLS Project) towards a final investment decision.

Additionally, Paladin plans a non-underwritten Share Purchase Plan (SPP) at the same price as the ASX Placement and Treasury Share Sale to raise up to a further A$20 million. This financial flexibility supports the PLS Project development alongside the ongoing ramp-up of the Langer Heinrich Mine, which is projected to achieve full mining and processing plant operations by FY2027.