Peninsula produced 30,574 pounds during the June 2017 quarter, a 21% increase over the prior three month period.
The cash proceeds received from sales of US$7.2 million in June quarter were in line with forecasts.
Opportunity from lower uranium prices
Current production is focused on meeting its Lance Projects sourced delivery commitments under existing term contracts.
Peninsula also continues to take advantage of the current low spot price when it can purchase uranium to meet additional commitments under term contracts.
Uranium is currently priced just above US$20 a pound.
Peninsula has contracted to purchase 900,000 pounds of uranium over the next three years at an average cost of US$25 per pound to meet non-Lance sourced delivery commitments under term contracts.
Peninsula currently has up to 7.7 million pounds of uranium remaining under contract for delivery to major utilities located in the United States and Europe through to 2030 at a weighted average delivery price of US$54/lb U3O8.
Projected revenue remaining under these existing long term contracts is up to US$420 million.
Peninsula held cash of US$12.6 million at the end of June 2017.