Peninsula Energy Advances Low-pH Testing at Lance Projects

摘要

During the latest quarter ended September 30, ASX-listed Peninsula Energy commenced the MU1A low-pH field demonstration to operationally verify optimized process chemistry, ion exchange resins, and solids handling method at its Lance Projects in the US State of Wyoming.In a quarterly activities reportreleased this week, the company also noted that field demonstration is progressing as planned to date, with initial results expected during the December quarter. The company said that a binding purchase agreement to procure 400,000 pounds U_3O_8 underpins its forecast net cash margin of US$6-8 million on uranium sales for Calendar Year 2021. Available cash as of September 30 totaled $9.4 million and Peninsula said it is well funded to advance Lance toward a low-capital resumption of production.