2301 GMT - Paladin Energy says it is unlikely to be buying uranium on the spot market after heavy rain disrupted operations at its flagship mine in Namibia, but Ord Minnett thinks it's possible. Paladin says its contracts have protection mechanisms in place, meaning it can avoid buying U3O8 on the spot market to honor supply deals. "However, we suggest Paladin might reconsider this stance," analyst Matthew Hope says. "Paladin wants its output to be fully contracted so needs to be viewed by utilities as a reliable supplier that always delivers." Ord Minnett adds that the spot market is illiquid at present. Potential buying by Paladin could ignite the spot price, perhaps at the cost of its cash balance, the bank says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 26, 2025 19:01 ET (23:01 GMT)
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