Paladin Energy Ltd. announced production and uranium sales results for the first quarter ended September 30, 2016. For the quarter, the company reported production of 1,293,117 lb compared to 1,082,983 lb a year ago.

Total uranium sales for the quarter were 600,000 lb at an average selling price of USD 25.19/lb, generating gross sales revenue of USD 15.1 million. Sales volumes were lower than expected for the quarter due to the re-timing of sales. Also, as advised at the end of the June quarter, the aggregate sales volume this quarter was lower due to inventory accumulation for a large CNNC delivery and other contract deliveries in the December quarter. Higher uranium sales in the range of 1.40 million lb to 1.60 million lb. U3O8 are anticipated for the December quarter, the majority of which has already been priced at a premium to current spot uranium prices.

The company announced that the accounted uranium sales for the quarter to December 31, 2016 are anticipated to be in the range of 1.40 million lb to 1.60 million lb.