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Peninsula Energy ( (AU:PEN) ) has provided an update.
Peninsula Energy has successfully restarted operations at its Lance Uranium Project, capturing approximately 1,100 pounds of uranium on ion exchange resins. The company has received final approval to expand its mine permit to include the Kendrick Project area, although operations in this area are not planned for 2025. With a cash balance of $45 million, Peninsula is well-positioned to continue developing its processing facilities and ramp up production in early 2025.
More about Peninsula Energy
Peninsula Energy Limited, along with its wholly owned U.S. subsidiary Strata Energy Inc., operates in the uranium industry. The company focuses on uranium in-situ recovery (ISR) operations through its flagship Lance Uranium Project located in Wyoming, USA.
YTD Price Performance: -1.39%
Average Trading Volume: 47,958
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $129.5M
For a thorough assessment of PEN stock, go to TipRanks’ Stock Analysis page.
