Peninsula Energy's (ASX:PEN) shares jumped 17.7% yesterday with over 27.5 million shares changing hands - its most actively traded day for well over three months.
The company started the application process to list its shares on the New York Stock Exchange (NYSE-MKT), giving it access to the world’s largest capital market and institutional fund managers.
The NYSE-MKT was formerly known as the American Stock Exchange or AMEX.
Listing on NYSE-MKT, which is expected to be completed in October this year, will provide access to an active market well versed in the benefits of nuclear power generation.
Average daily turnover of uranium peer companies dual listed on a U.S. stock exchange consistently exceed the liquidity levels achieved on their non-U.S. exchange by factor of 4 to 7 times.
Uranium companies with a listing on a U.S. stock exchange benefit from a higher relative valuation than companies that do not have a U.S. listing.
Comparable In-Situ Recovery (ISR) companies with a U.S. listing outperform companies that do not have a U.S. listing by a factor of 2 to 3 times enterprise value per pound of measured and indicated resource.
Peninsula's Lance In-Situ Recovery Projects in Wyoming are expected to start uranium production later this year.
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