Paladin ProblemsPaladin uranium output slumps Michael Roddan | Business Spectator | April 24, 2015 11:49AM Uranium miner Paladin Energy has seen a substantial fall in its quarterly production, after a February well failure, but remains bullish on its short-term trend in uranium prices. Paladin (PDN) said today production at the group’s Langer Heinrich mine during the March quarter had slumped 10 per cent from the December quarter to 1.23 million pounds of uranium oxide. Output was constrained by a well failure leading to 12 days of lost production, as reported by the group in February. The miner said it sold 440,000 pounds of uranium oxide at an average selling price of $US38.03 a pound in the quarter, leading to revenues of $US16.7 million. “Sales volume was low this quarter due to a build-up of inventory for sale of product to [the China National Nuclear Corporation] in late April,” Paladin said. The miner forecasts higher uranium sales of around 1.7 million pounds for the June quarter and expects the average sales price to rise from the March quarter level. Paladin said the restart study of its suspended Kayelekera mine in Malawi was “well advanced” and should be completed by the end of June. The mine remains a substantial strategic asset as the project provides the ability to increase production by 2.5 to 3 million pounds per year, when uranium prices justify a jump in production, according to the company. Paladin maintained its full-year guidance for production at 5 million to 5.2 million pounds of uranium oxide.