Company
ASX:PEN
Peninsula Energy Ltd is one of the few ASX-listed uranium companies providing US production and direct market exposure. The company's 100% owned Lance Projects in Wyoming has re-commenced production operations in December 2024 and will continue ramping up the production rate in 2025 in coordination with the commissioning of a complete central processing plant facility.
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Broker Numis is getting bullish on uranium again following a new marketing initiative from the Kazakh government. Kazatomprom, the Kazakh-state uranium producer, is the largest producer in the world accounting for 39% of global mine product
“In our view, the current spot price reflects short term oversupply with the largest factor being the growth in Kazakh spot production,” said Chan.
Peninsula is producing uranium from the Lance Projects which have a mine life of at least 20 years.
London broker Numis Securities Limited noted: "We initiate coverage with a target price of A$1.20 based on 1x our 7% NAV for Lance and 0.5x our 10% NAV for Karoo."
Gus Simpson, managing director and CEO, commented: "The Lance Projects continue to progress as forecast, Mine Unit 2 permeability looks good and production drilling is returning consistent support for the feasibility study estimates."
Peninsula has appointed Roth Capital Partners LLC to support the company’s plan to dual list on the New York Stock Exchange.
Peninsula has received a Buy Recommendation from broker Dundee Capital Markets, with a $1.50 target. Peninsula last traded at $0.65.
Rodman & Renshaw noted: "We continue to view Peninsula as a defensive uranium name, primarily due to the existence of higher-priced long-term contracts."
Listing on the NYSE exposes Peninsula’s U.S. based producing uranium projects to the world’s largest capital market and institutional fund managers.
Today's update provides a clear path to production expansion with an estimated US$17.50 per pound margin over all-in costs at the project’s Stage 2 steady state.
Peninsula Energy Ltd has attracted a A$2.25 price target from Rodman & Renshaw, a subsidiary of H.C. Wainwright & Co. The broker has reiterated its Buy Recommendation.
Gus Simpson, MD & CEO, commented: "The company is pleased that the Commissioners deliberation of the facts support the findings of the comprehensive studies completed by the company and the reviews of these conducted by multiple governm
Revenue of US$120 million is forecast from delivery commitments of 2.15 million pounds of U3O8 over the next 5 years alone.
Peninsula offers production growth, which should drive higher trading multiples, backed up by its favourable sales contracts, as well as attractive exploration upside, which is not fully reflected in its share price.
Peninsula currently has 7.9 million pounds of U3O8 under contract with major utilities located in the United States and Europe. Projected revenue under these existing long term contracts has expanded to US$440 million. These contracts provi
