Paladin Energy (ASX:PDN) lowered its fiscal 2025 production guidance for the Langer Heinrich mine in Namibia to 3 million to 3.6 million pounds of triuranium octoxide from the previous forecast of 4 million to 4.5 million pounds, according to a Tuesday filing with the Australian bourse.
The move was made following lower-than-expected production results in October due to the variable stockpile of ores processed and limited access to water, the filing said.
Shares of Paladin Energy plummeted past 27% in recent Tuesday trade and earlier hit a new 52-week low.
Price (AUD): $7.02, Change: $-2.66, Percent Change: -27.48%
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