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Peninsula Energy’s substantial shareholder lifts position

Global X Management Company now holds a 12.03% interest.
Uranium drums
Peninsula is producing uranium from the Lance project in the U.S.

Peninsula Energy Ltd's (ASX:PEN) substantial shareholder, Global X Management Company, has increased its stake in the uranium miner to 12.03% from 11%.

The New York-based fund now holds almost 28 million shares through its Global X Uranium ETF entity.

It has been steadily increasing its holding in Peninsula through regular share purchases.

In late October the Global X stake had increased to 8.64% from 7.62%.

Producing from Lance project

Peninsula is producing uranium from the Lance ISR Project in the U.S. state of Wyoming.

The state is a premier uranium extraction jurisdiction, hosting multiple ISR operations.

The company is also purchasing uranium from other producers to meet sales commitments.

Production from Lance for the three months ending September was circa 34,500 pounds of uranium with around 42,500 pounds of uranium dried and drummed in the period.

Sales totalled 132,934 pounds, which consisted of 92,934 pounds from Lance and the remaining 40,000 pounds from market purchases.

The average sale price was US$50 per pound for cash receipts of US$6.6 million.

Peninsula was trading at $0.44 today. 

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Peninsula Energy Ltd Timeline

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