Peninsula Energy receives confirmation of finance as it progresses low pH uranium production
The commencement of low pH operations is expected to significantly reduce operating costs, aligning Lance with leading global uranium producers.
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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The commencement of low pH operations is expected to significantly reduce operating costs, aligning Lance with leading global uranium producers.
The company is in the process of transitioning to low pH uranium operations.
The company recently achieved a fourth successive quarter of increased uranium production.
The company is maintaining its production guidance levels for the upcoming quarter.
Amendment applications are expected to be submitted early next month.
New York based investment bank H.C. Wainwright & Co has a target price of $1.50.
U.S. investment bank continues to forecast upside with shares trading at $0.39.
The company has sold part of its interests in long-term sales and purchase agreements.
Peninsula recently achieved its third successive quarter of increased uranium production.
Process improvements are resulting in average daily rate increases.
Global X Management Company now holds a 12.03% interest.
Peninsula was cash flow positive during the September quarter.
David Coyne at Proactive's CEO Sessions in Melbourne and Sydney.
Find out more from David Paull at Proactive's CEO Sessions.
Find out more from David Coyle at Proactive's CEO Sessions.
Projected revenue remaining under existing contracts is up to US$415 million.
Peninsula is producing uranium from the Lance Projects.
Peninsula generated $US6.6 million from uranium sales during the September quarter.
The Lance Projects were cash flow positive in the June quarter.
Peninsula delivered positive free cash flow during the June quarter 2017.