Peninsula Energy Ltd (ASX:PEN) has received a vote of confidence from its managing director and CEO Wayne Heili who has purchased 205,000 shares for $55,902.
Heili acquired the shares through on-market trades and the purchase increases his total holding in the company to over 1.1 million shares.
READ: Peninsula Energy feasibility study results confirm new low-cost uranium operation
Peninsula recently received the results of a feasibility study supporting the transformation to a cost-effective low-pH ISR uranium operation at its Lance Projects in Wyoming, US.
The study showed that Peninsula would become a globally competitive uranium producer by switching its uranium production method to low-pH ISR.
It estimated direct operating expenses over the 17-year life-of-mine (LoM) of US$15.59 per pound and LoM all-in sustaining costs averaging US$31.77 per pound.