Paladin Energy Ltd. announced sales and production results for the quarter ended March 31, 2016. The company sales of 595,287lb U3O8 at an average selling price of $34.67/lb (vs. average spot price of $32.73/lb). Sales volume for the March quarter was lower due to inventory accumulation for a fixed price contract delivery and a major CNNC delivery in April. Higher uranium sales in the range of 1.75Mlb to 2.10Mlb U3O8 are anticipated for the June quarter, the majority of which has already been priced at a substantial premium to current spot uranium prices.

Quarterly U3O8 production of 1,302,169lb was up on the preceding quarter by 3%. The amount of drummed material produced (i.e., U3O8 drummed) for the quarter was unchanged from last quarter at 1,268,160lb.

The company expects sales production for the quarter ending June 30, 2016 include: Uranium Sales – Anticipated to be in the range of 1.75Mlb to 2.10Mlb U3O8, of which approximately 1.2Mlb has already been priced and shipped.

Annual U3O8 production guidance for full year 2016 is expected to be approximately 5.0Mlb.