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Peninsula Energy uniquely placed as uranium junior with long term sales extending until 2030

Last updated: 20:09 05 Mar 2024 EST, First published: 10:57 15 Feb 2021 EST

Snapshot

  • Peninsula Energy thanks Rachel Rees for “valuable contribution”
  • Peninsula Energy to be largest US-based end-to-end uranium producer
Global Uranium - Peninsula Energy sticks to US focus with a clear pathway to resume uranium production at its flagship Lance Project in Wyoming, US

About the company

Peninsula Energy Ltd (ASX:PEN) owns the Lance Uranium Projects in Wyoming, the US which is transitioning from an alkaline in-situ recovery to a low pH in-situ recovery operation.

The company is the only ASX-listed uranium company that has the immediate ability to take advantage of the US Government’s programs supporting domestic uranium mines.

When back in operation, Peninsula has long-term sales contracts extending to 2030, representing about 15% of projected Lance production.

How it is doing

05 Mar 2024

Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has thanked executive director of Finance and Corporate Affairs, chief financial officer and joint company secretary Rachel Rees after advising that she would leave her positions to pursue other interests.

The effective date for the change will be April 4, 2024, with Rees to also retire from her position on the board on this date.

Peninsula non-executive chairman John Harrison said: “On behalf of the company, I thank Rachel for her efforts and her valuable contribution over the last two years, in both her executive and original non-executive positions with the company, during what has been an extremely busy time.

"We were very grateful when Rachel stepped in to assume her executive role and for her valued participation in the financing of our Lance projects.

29 Feb 2024

Backed by the strength of the uranium market, Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has signed a new sales agreement to supply uranium yellowcake from its Lance Projects in Wyoming, USA to European nuclear fuel buyer Synatom. 

The agreement requires that the company — through its wholly owned subsidiary Strata Energy Inc — sell 1.2 million pounds of uranium to Synatom over a six year period starting in 2028. 

29 Jan 2024

Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has completed a substantially oversubscribed securities purchase plan (SPP) for A$10 million after receiving applications totalling A$33.7 million from more than 2,000 eligible shareholders. 

This SPP was part of a capital raising in which Peninsula also raised A$50 million in a placement to global institutional and sophisticated investors for a total of A$60 million.

What management says

21 Nov 2023

Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) CEO Wayne Heili speaks with Proactive soon after announcing the company has secured binding commitments to raise A$50 million via a placement to global institutional and sophisticated investors to fund continuing construction works and wellfield development to restart uranium production at the Lance Project in Wyoming, USA. In addition, the company is also undertaking a security purchase plan (SPP) to raise up to A$10 million, providing existing eligible shareholders the opportunity to participate in the capital raising on the same terms as the placement.

Peninsula Energy to be largest US-based end-to-end uranium producer

Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) CEO Wayne Heili speaks with Proactive soon after announcing the company has secured binding commitments to raise A$50 million via a placement to global institutional and sophisticated investors to fund continuing construction works and wellfield...

on 11/21/2023