Peninsula Energy Ltd Suspends Trading With Pending Capital Raise News


The company is the only ASX-listed uranium company with the immediate ability to take advantage of US government programs supporting domestic uranium production.

Peninsula Energy Ltd (ASX: PEN) (OTCMKTS: PENMF) (FRA: P1M) has been granted a trading halt by ASX with a capital increase announcement pending.

The trading stop will remain in place until the start of regular trading on Friday, May 28, or until an announcement is posted on the market.

PEN’s market capitalization is approximately AU $ 165.3 million and the company’s securities last traded at AU $ 0.185.

Low pH field demonstration progresses

The company is currently focused on transitioning the Lance Uranium project in the US state of Wyoming to low pH ISR operations, with demonstration work underway.

This month, further changes were made to the configuration of the injection and recovery well models with the aim of reducing response times for the evaluation and adjustment of chemical parameters.

The company has also started evaluating several alternative uranium processing options with the aim of reducing downstream processing costs.

The Peninsula Project Transformation initiative aims to move from an alkaline ISR operation to a low pH ISR operation to align the operating performance and cost profile of the Lance project with the global uranium production projects of point.

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