Paladin's bleeding continues at Langer Heinrich

PALADIN Energy will be very much hoping it is bumping along the bottom after reporting its second consecutive gross loss of more than US$17 million for the half year ending December.

Paladin's bleeding continues at Langer Heinrich Paladin's bleeding continues at Langer Heinrich Paladin's bleeding continues at Langer Heinrich Paladin's bleeding continues at Langer Heinrich Paladin's bleeding continues at Langer Heinrich

Paladin spent $31.24 per pound producing 1.71 million pounds of uranium in December period at the 75% owned Langer Heinrich operation in Namibia, with that output sold for an average of $21.82/lb.

Meanwhile what reaction CEO Alex Molyneux got to this state of affairs when he presented Paladin’s case at the BMO Capital Markets conference in Florida this week isn’t known, but measured by the company’s flat share price, investors are still making up their minds.

Paladin returned to the ASX platform earlier this month after a debt-for-equity swap and recapitalisation process in the second half of 2017.

In the process Paladin’s net debt of $715 million was reduced to $44 million, with then-shareholde...