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Additional Information
Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: PEN
Latest Price: A$0.04  (0,00%)
52-week High: A$0.09
52-week Low: A$0.03
Market Cap: A$80.07M
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Peninsula Energy
www.pel.net.au

Peninsula Energy (ASX: PEN) is an emerging ASX listed Uranium producer with assets in the USA and South Africa. The company is focused on advancing the Lance ISR Projects, located in the Powder River Basin, Wyoming USA through to production, and to take the Karoo Projects in South Africa further up the development curve.


Full Peninsula Energy profile here
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Peninsula Energy in $15m placement at 50% premium to NuCore Energy after Lance DFS

23rd Jun 2011, 3:21 am

Peninsula Energy (ASX: PEN) has received some major international support for the company's operations, with a A$15 million placement to the U.S. based NuCore Energy.

Highlighting NuCore's interest in Peninsula, the placement is priced at a 50% premium to the 10 day volume weighted average price in the period immediately following publication of the Peninsula’s Definitive Feasibility Study at the Lance Projects in Wyoming, U.S.

Peninsula will also issue one free attaching listed option exercisable at $0.03 on or before 31 December 2015 for every share subscribed by NuCore.

NuCore is a North American company focused on the commercial nuclear fuels market and services sector.

Under the terms of the placement, Peninsula will appoint Jim Cornell to the board as executive director–sales and marketing.

Cornell is a founding director and CEO of NuCore and an experienced nuclear industry executive.

Gus Simpson, executive chairman of Peninsula, said “Peninsula is pleased to announce this strategic investment and the commencement of what we view as a long term partnership with both NuCore and Boswell."

Peninsula has also entered into an agreement with Toronto based corporate advisory firm Boswell Capital Corporation and affiliated companies which have an ongoing advisory role with several large utilities and uranium suppliers.

Boswell will assist Peninsula with marketing, strategic partnering, growth and capital raising.

NuCore has an ongoing teaming arrangement with Boswell.

This alliance provides Peninsula with broad based benefits that include focused investment support, greater access to North American markets, uranium sales and marketing expertise, acquisition, growth strategy/execution and exposure to relationships with utilities and other key groups within the U.S. and global nuclear industry.

 

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