Peninsula Energy: Completes $32m placement to restart uranium project

Peninsula Energy Completes $32m placement to restart uranium project

• Peninsula Energy (PEN) completes its $32 million placement to restart uranium production at the Lance projects in the US state of Wyoming
• The company issued more than 244 million shares to private investors at 13.1 cents to raise the funds and has also planned a share purchase plan to raise another $3 million
• The uranium miner said the placement received “significant” support both domestically and internationally
• Peninsula is using the money to transition the Lance projects to a low-pH in-situ recovery process, as well as restart production within the Ross area and advance the Kendrick production area
• Company shares are down 12.9 per cent to trade at 13.5 cents at 2:01 pm AEDT