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.