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Peninsula Energy will update on uranium transition progress at Proactive CEO Sessions

The transition to low pH operations at the Lance Projects is expected to enhance recovery and lower operating costs.

Photo of Wayne Heili
The company’s managing director Wayne Heili will address investors at the CEO Sessions

Peninsula Energy Ltd (ASX:PEN) is transitioning towards a low pH uranium operation at its Lance Projects in the US state of Wyoming and will outline its progress during this month’s Proactive CEO Sessions.

Managing director Wayne Heili will present to investors at the Sydney CEO Session on Monday, February 18 and at the Melbourne session on Tuesday, February 19.

Shift to low pH operations

The company is shifting towards acid leaching operations, or low pH techniques, at the Lance Projects and this is expected to lower operating costs and enhance recoveries.

READ: Peninsula Energy commences low pH uranium recovery field demonstration

As part of this transition process, a field demonstration has been taking place while regulatory and permitting work advances.

This demonstration has been taking place in Mine Unit 1 of the Ross Permit Area.

The first stage of this work has been dedicated to bringing the pH level within the pattern area down to 2.0 standard units.

This is the pH level proven in laboratory testing to deliver greatly enhanced uranium recoveries.

Recovery in-situ

Conventional mining involves removing mineralised rock (ore) from the ground, breaking it up and treating it to remove the minerals.

In-situ recovery (ISR) involves leaving the ore where it is in the ground and recovering the minerals from it by dissolving them and pumping the pregnant solution to the surface where the minerals can be recovered.

Consequently, there is little surface disturbance and no tailings or waste rock generated.

Heili will focus on this transition during the presentation and will also include details from the company’s December quarterly report.

Peninsula Energy remains on track to achieve its production guidance of 90,000 to 110,000 pounds of uranium for the financial year ending June 30, 2019.

Production for the March and June 2019 quarters is expected to be 15,000 and 20,000 pounds respectively as operational facilities continue to be prepared for the low pH production.

Register for the CEO Sessions today to find out more.

Sydney details, Monday, February 18, 2019

Melbourne details, Tuesday, February 19, 2019

Also featuring at both sessions will be Kazia Therapeutics Ltd (ASX:KZA) and AdAlta Ltd (ASX:1AD) while Theta Gold Mines Ltd (ASX:TGM) is on the Sydney program and Anatara Lifesciences Ltd (ASX:ANR) is on the Melbourne program.

Quick facts: Peninsula Energy Ltd

Price: 0.135 AUD

Market: ASX
Market Cap: $42.53 m

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