During the quarter, the company sold 1.91 million pounds of U3O8 at an average price of $36.58 per lb.

At Langer Heinrich mine, the company produced 1.3 million pounds of U3O8, compared with around 1.02 million pounds in the quarter ended in September 2014.

Due to drop in production in the September-ended quarter, the company is seeking to continue production at budget rates this year.

Consequently, the company expects to produce around 5.2 to 5.5-million pounds this year.

Meanwhile, Paladin has commenced a feasibility study to develop a plan to restart production at the Kayelekera mine in Malawi if market conditions are favourable.

Operations at the Kayelekera mine ceased in May 2014 and the mine has been placed on care and maintenance.