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Peninsula Energy Ltd

(ASX:PEN)



Peninsula Energy Ltd is an ASX listed company that wholly owns the Lance Uranium Projects in Wyoming, USA which are in transition from an alkaline in-situ recovery to a low pH in-situ recovery operation, with the aim of achieving the operating performance and cost profile of the industry-leading global uranium production projects. The alkaline in-situ recovery uranium operations commenced in December 2015 and ceased in July 2019 primarily as a consequence of lower than expected recoveries. A Feasibility Study on the low pH in-situ recovery process was published in September 2018 and demonstrated the robust economics of the proposed transition. Since 2018 research studies and a 2019 field trial in a previously mined area have produced results that strongly validate the 2018 Feasibility Study parameters. The Lance Projects are the ONLY US-based uranium project authorised to use the industry-leading low pH in-situ recovery process. Over the next 12 to 18 months the focus is on site-specific technical, process development and optimisation activities. Peninsula Energy Ltd commenced the MU1A low pH field demonstration in August 2020.

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