Peninsula Energy is positioning for a uranium recovery: Canaccord Genuity

In August, the US Democrats endorsed nuclear energy for the first time in 48 years as part of its ‘technology-neutral’ approach to decarbonising the power sector. After almost a decade of underinvestment, frailties in uranium supply are becoming evident. Peninsula Energy Ltd ( ASX:PEN ) received a speculative buy rating and a 15 cents per share risked price target from Canaccord Genuity in December.

Canaccord Genuity is the global capital markets division of Canaccord Genuity Group Inc ( TSE:CF ).

Canaccord sees the potential for a robust development opportunity for Peninsula’s Lance Projects in Wyoming, US assuming a recovery in uranium prices.

The following is an extract from Canaccord’s initiation report on Peninsula: US uranium leverage Peninsula Energy (PEN) is focused on transitioning to a low pH operation at its uranium Lance Projects located in Wyoming, US which currently has a Mineral Resource totalling 51Mt at 479ppm U3O8 for 53.6Mlb U3O8. […]

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