Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has retained its buy recommendation from Shaw and Partners following the release of the Definitive Feasibility Study (DFS) at its Lance Uranium Project in Wyoming during the September quarter.
The investment manager expects Peninsula to announce a Final Investment Decision this quarter and has set a price target of A$0.34 (current share price: A$0.18).
Shaw continues to like Peninsula for its operations being in the US, having an existing contract book, and its leverage to a uranium sector upcycle.
The following is an extract from the research report: Event Peninsula has released its September quarterly activities report. The highlight during the quarter was the release of the Definitive Feasibility Study (DFS) at the Lance Uranium Project in Wyoming. We expect Peninsula to announce a Final Investment Decision this quarter.Key results from the DFS include a pre-tax NPV8 of US$125m and an IRR of 43% using an average […]
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