The uranium producer will purchase nearly half a million pounds of natural uranium concentrate through until the end of next year to meet demand. PEN has entered into multiple binding purchase agreements to procure natural uranium concentrates. Peninsula Energy Ltd ( ASX:PEN ) ( OTCMKTS:PENMF ) (FRA:P1M) is predicting a net cash margin of between US$8-$9 million in 2022, as it stocks up on uranium concentrate to meet demand.
The company has entered into multiple binding purchase agreements to procure natural uranium concentrates – as U3O8 – sufficient to meet the entirety of its 2022 committed sales of 450,000 pounds.
U3O8, more formally known as triuranium octoxide, is a compound of uranium that has long-term stability and an extremely long half-life of over 4 billion years, meaning it emits radiation at a very slow rate, making it suitable for commercial and industrial use. Strong demand
Peninsula CEO and managing director Wayne […]
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