Peninsula Energy set to restart Lance uranium production in 2024 after revising Life of Mine plan

A revised production plan on the Ross & Kendrick production areas within Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) and subsidiary Strata Energy Inc’s 100%-owned flagship Lance Projects in Wyoming, USA, is complete and has production restarting in late 2024.

The revised strategy positions Peninsula as a fully independent, end-to-end producer of dry yellowcake, while delivering a robust and resilient project development plan for Lance, including an accelerated production ramp-up schedule.

With this approach, PEN aims to bypass third-party processing vulnerabilities, noting that the new Ross & Kendrick Life of Mine (LoM) model features a complete 5,000 GPM uranium In-Situ Recovery (ISR) plant, to produce up to 2.0 million pounds per annum of dry yellowcake (U3O8) product.

In addition to securing operational resilience through an updated LoM model, Lance’s revised production strategy also highlights a cost-effective approach. The plan maintains a competitive estimate for C1 Direct Operating Costs at US$21.69 per pound.The remaining capital […]

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