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Peninsula Energy Limited (ASX:PEN)

ALERT: Price-sensitive ASX Announcement for PEN
Current share price for PEN : $0.345 -0.6 (-63.49%)+
Announcement
Release
22 Jan 2026 9:10AM
Price at Release
$0.945
Full Release
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Summary
Peninsula Energy Limited has made significant progress in the operational ramp-up of Mine Unit 4 (MU-4) at the Lance Uranium Project in Wyoming, USA. The company has commenced acidification at Header House 16, with earlier stages already exceeding expectations in terms of flow rates and pH level reduction. The revised wellfield pattern design is significantly different from previous setups, expected to improve production outcomes and compensate for lower flow rates from Mine Unit 3. MU-4 is anticipated to account for approximately 60% of the company's uranium production forecast for CY2026 and 2027. The commissioning of the Lance Central Processing Plant (CPP) continues as part of the production reset plan, which maintains Peninsula on track to meet its uranium production guidance. The US government's support for domestic uranium production further strengthens the long-term outlook for companies like Peninsula.
Key Points
  • Commencement of acidification at Header House 16 within Mine Unit 4
  • Flow rates at Header House 14 average 15 gallons per minute, exceeding expectations
  • Revised wellfield pattern design implemented for improved production outcomes
  • MU-4 anticipated to provide 60% of uranium production for CY2026 and 2027
  • Commissioning activities at Lance Central Processing Plant continue
  • Production reset plan positions Peninsula on track to meet CY2026 production guidance
  • US government policies support long-term outlook for domestic uranium producers
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.