On November 12, 2024, Paladin issued an announcement entitled “Langer Heinrich Mine update and revision of FY2025 guidance.” In this announcement, Paladin announced in part that “[a]s a result of the lower than expected production results for October, and noting the ongoing challenges and operational variability experienced to date in ramping up production at the [Langer Heinrich Mine], Paladin has determined to revise its FY2025 production guidance to 3.0 – 3.6 Mlb (previously 4.0 – 4.5 Mlb) and withdraw all other guidance in relation to FY2025.”
On this news, Paladin shares fell $1.55 per share, or 24.7%, to close at $4.71 per share on November 12, 2024.
