Why the Peninsula (ASX:PEN) share price is jumping 10% today

Why the Peninsula (ASX:PEN) share price is jumping 10% today

The Peninsula Energy Ltd (ASX: PEN) share price is advancing today following the overnight United States Omnibus budget approval . During late morning trade, the Peninsula share price rose as high as 11.5 cents. However, the uranium mining company’s shares have since partially retreated to 11 cents, up 10% for the day.

Let’s take a look at what is moving the Peninsula share price today. What’s driving the Peninsula share price?

The Peninsula share price is on the rise today after the company advised the United States President Donald Trump signed off on the Omnibus budget bill. The approved spending package will see the US Department of Energy allocate US$75 million towards the establishment of a national strategic uranium reserve.

Under the American Nuclear Infrastructure Act (ANIA), the US Department of Energy will be restricted to only buy uranium recovered from facilities licenced by the Nuclear Regulatory Commission. This, in […]

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