PDN’s major projects are in Africa, with some smaller projects in Australia. Among the list of sectors on the ASX, PDN is categorized as an energy stock.
Recently, PDN announced a major resource upgrade at its Langer Heinrich mining project.
Reserves of uranium oxide have more than doubled to 134 million pounds, and based on an assumed price of US$60 a pound, the upgrade should support a minimum 20 year mine life.
PDN advised that the upgrade was enough to justify the planned stage four expansion of Langer Heinrich.
PDN shares jumped 4.7% following the news, making it one the top performers in the stock market on the day.
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