Paladin Energy Launches AU$300 Million Equity Raising to Advance PLS Project.

Paladin Energy Ltd (ASX: PDN) has announced a fully underwritten equity raising of AU$300 million to accelerate development of its Patterson Lake South (PLS) Project and support ramp-up at the Langer Heinrich Mine (LHM). The raising includes an AU$231 million ASX institutional placement, a C$30 million (~AU$33 million) Canadian bought deal, and a ~AU$36 million Treasury Share Sale. Shares will be issued at AU$7.25, an 8% discount to the last ASX close. Eligible Australian and New Zealand shareholders may also participate in a Share Purchase Plan to raise up to AU$20 million.

Proceeds will fund completion of front-end engineering and design, detailed design works for regulatory approvals, early site works, long-lead item procurement, and exploration drilling. The capital boost strengthens Paladin’s balance sheet, positioning the company to deliver long-term value through the PLS Project and uranium production, with first output targeted by 2031.

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