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Peninsula Energy managing director and CEO buying shares

The company recently received positive results from a feasibility study.
uranium barrels
The study was based on the company's flagship uranium operation in Wyoming

Peninsula Energy Ltd (ASX:PEN) has received a vote of confidence from its managing director and CEO Wayne Heili who has purchased 205,000 shares for $55,902.

Heili acquired the shares through on-market trades and the purchase increases his total holding in the company to over 1.1 million shares.

READ: Peninsula Energy feasibility study results confirm new low-cost uranium operation

Peninsula recently received the results of a feasibility study supporting the transformation to a cost-effective low-pH ISR uranium operation at its Lance Projects in Wyoming, US.

The study showed that Peninsula would become a globally competitive uranium producer by switching its uranium production method to low-pH ISR.

It estimated direct operating expenses over the 17-year life-of-mine (LoM) of US$15.59 per pound and LoM all-in sustaining costs averaging US$31.77 per pound.

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