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Peninsula Energy enters ASX trading halt

The company is in the process of transitioning to low pH uranium operations.
concept of debt restructure
The company exceeded uranium production guidance in the March quarter

Peninsula Energy Ltd (ASX:PEN) has been granted a trading halt by the ASX today.

The company requested its shares be halted pending the release of information regarding an extension and restructuring of the existing convertible note facility.

The halt will remain in place until an announcement is made or pre-market next Tuesday, whichever is earlier.

READ: Peninsula Energy exceeds uranium production guidance at Lance project, shares up

Peninsula produced 43,638 pounds of uranium from its Wyoming-based Lance Project during the three months to March 31, 2018.

This represented a quarter-on-quarter increase of 12% and was a catalyst for an increase of almost 10% in Peninsula Energy's shares to an intra-day high of 24 cents.

Notably, production levels for the March quarter exceeded the upper band of the company’s 30,000 to 40,000 pounds production guidance.

Convertible note facility with RCF and Pala

As at 31 December 2017, convertible loans represented a current liability of US$19.73 million on Peninsula’s balance sheet.

These loans are with Resource Capital Funds (RCF) and Pala Investments.

View full PEN profile View Profile

Peninsula Energy Ltd Timeline

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