Paladin Energy Ltd. reported group sales and production results for the second quarter ended December 31, 2015. For the quarter, the company reported total sales of 1,698,517lb U3O8 at an average selling price of USD 37.90/lb, generating gross sales revenue of USD 64.4M, which was a 75% increase over the previous quarter's revenue.

For the quarter, the company reported accounting production of 1,258,833lb U3O8 and drummed production of 1,263,882lb U3O8. Average plant feed grade was 714ppm U3O8 and overall recovery of 88.5%.

The company provided production guidance for the third quarter ended March 2016. For the quarter, accounted uranium sales are anticipated to be in the range of 450,000lb to 650,000lb.

The company revised production guidance for the fiscal year 2016. For the period, the company is reviewing its annual production guidance, which was previously in the range of 5.0Mlb to 5.4Mlb U3O8 and included a planned 10% reduction in milled ore grade to 694ppm U3O8. Incorporating performance for the first half of fiscal year 2016, annual production is more likely to be in the range of 5.0Mlb to 5.2Mlb.