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Peninsula Energy transitioning to 'a much more robust and effective process chemistry'

Peninsula Energy Ltd (ASX:PEN) managing director and CEO Wayne Heili speaks to Proactive Investors about the transformational work the uranium mining company has been undertaking at its flagship Lance Project in Wyoming in the US; known as the 'low pH transformation initiative.'

Peninsula Energy has already submitted amendment applications to the relevant authorities, and is in the midst of preparing a process feasibility study.

"The low pH lixiviants have proven to be the most cost-effective way to recover uranium globally. In fact the top 40% of the low-cost producers worldwide utilise this technology and this specific chemistry. So, we anticipate being able to move our project into the  top quartile," says Heili.

One of the "strengths and defining characteristics of Peninsula, that sets us apart and differentiates us from our peer group," according to Heili, is the company's contract book. It extends to deliveries in the year 2030, at an average price of over US$50 a pound. Currently, spot prices range from $20 to $22 per pound.

Quick facts: Peninsula Energy Ltd

Price: 0.065 AUD

ASX:PEN
Market: ASX
Market Cap: $57.37 m
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Peninsula Energy updates on laboratory tests at its Lance Uranium Project in...

Peninsula Energy Ltd (ASX:PEN) CEO Wayne Heili tells Proactive the group has completed the laboratory phase of optimization work at its Lance Uranium Project in Wyoming with a second low-PH field demonstration underway to confirm laboratory results at a near to commercial scale. Heili says...

on 08/18/2020

2 min read