Peninsula Energy is an advanced uranium developer progressing its flagship and sizeable Lance Project into a sustainable, long-life uranium operation.

Lance is one of the largest US uranium projects, with a JORC (2012) Resource of 53.7Mlbs¹ U3O8 and comprises the Ross, Kendrick and Baber areas. The Project is located in Wyoming, a tier-one mining and uranium jurisdiction.

Lance is the only US-based uranium project authorised to use the industry leading low-pH ISR process, which is a proven and effective method of uranium production. Over 60% of global uranium produced in 2021 was via this process and when it comes to production costs, low-pH ISR projects sit in the lowest quartile.

Lance has a current plant capacity of 0.82Mlbs U3O8 per year, is licensed to produce up to 3Mlbs U3O8 per year, has a low capital expenditure profile and importantly, Peninsula is on track restart commercial operations by mid-year 2023.

Peninsula is led by highly experienced uranium technical, development, and operational team and has completed staffing, technical, regulatory, and operational de-risking activities ahead of restarting operations.

The Company also boasts an established contract book, with sales in place for up to 5.25 million lbs U3O8 extending through 2033, with delivery being made to major utilities in the United States and Europe.

Importantly, global recognition of uranium as a clean energy source is growing rapidly supported by the critical shift in global decarbonisation efforts and once the Lance Project is in operation, Peninsula will be in a strong position to supply the fuel to power a greener future.