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Peninsula Energy gains a new substantial shareholder

Peninsula Energy (ASX:PEN) has a new substantial shareholder with Global X Management Company Co LLC moving to a 5.32% stake.
Peninsula Energy gains a new substantial shareholder
Peninsula shares have rebounded circa 70% since the raising.

Peninsula recently raised $8.5 million through the placement of shares at $0.50 and intends to raise up to an additional $5 million through an in-the-money share purchase plan offer.

The funding will allow Peninsula to implement a streamlined operational strategy to enhance business performance from the uranium-producing Lance Projects located in Wyoming, U.S.

Uranium re-rating

Over the past three weeks, the price of uranium has increased over 20%, potentially signalling the commodity has bottomed out.

Peninsula shares have rebounded circa 70% since the raising, with shareholders now awaiting the next news on the potential share purchase plan.

View full PEN profile

Peninsula Energy Timeline

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