Peninsula Energy secures commitments for A$15 million equity raising for uranium purchase

The placement and SPP will fund the purchase of 300,000 pounds of uranium at a price of US$31.35 per pound, a strategic purchase that will assist the company as it transitions the Lance Project in Wyoming to a low pH ISR operation. Settlement is due next month and the uranium will be stored at the Cameco Facility in Ontario, Canada. Peninsula Energy Ltd ( ASX:PEN ) ( OTCMKTS:PENMF ) (FRA:P1M) has received commitments from institutional and high net worth investors for A$13.4 million through a share placement at 15 cents per share.

A share purchase plan (SPP) will be offered to eligible shareholders to raise up to a maximum of A$2 million at the same share price as the placement.

Net proceeds will be used to settle the purchase of 300,000 pounds of natural uranium concentrates (U3O8) concentrates at a price of US$31.35 per pound, which is reflective of the prevailing […]

Click here to view original web page at www.proactiveinvestors.com.au

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.