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- Peninsula Energy (PEN) has placed its shares in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until May 28 or when details are released, whichever occurs first
- In mid-May, Peninsula provided a field demonstration regarding its wholly owned Lance Project in Wyoming, U.S.
- Before a final investment decision is made regarding the restart of production, a field demonstration of low-pH in-situ recovery was undertaken to generate data on certain development and operational parameters
- Peninsula has switched off specific injection wells in a bid to reduce response time for assessing and adjusting chemical parameters
- The company also evaluated multiple alternative uranium recovery processes to reduce downstream processing costs
- Shares in Peninsula last traded at 18.5 cents on May 25
Peninsula Energy (PEN) has placed its shares in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until May 28 or when details are released, whichever occurs first.
Peninsula is yet to disclose how much it intends to raise or what it will use the funds for.
In mid-May, Peninsula provided a field demonstration update regarding its wholly-owned Lance Project in Wyoming, U.S.
Before a final investment decision is made regarding the restart of production, a field demonstration of low-pH in-situ recovery (ISR) was undertaken to generate site-specific data on certain development and operational parameters.
Peninsula has switched off specific injection wells in a bid to reduce response time for assessing and adjusting chemical parameters.
The company also evaluated multiple alternative uranium recovery processes to reduce downstream processing costs.
Finally, the recovery stream has moved closer to the target range of 450 to 600 membrane potential during the month and the pH level of each recovery well is decreasing to target level.
Shares in Peninsula last traded at 18.5 cents on May 25. The company has a $165.2 million market cap.
