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Peninsula Energy’s managing director adds to shareholding, brings total interest to nearly $243,000

The company is conducting a low-pH chemistry field leach trial which is expected to reduce production costs.
Peninsula Energy’s managing director adds to shareholding, brings total interest to nearly $243,000
The central processing plant for Lance Uranium Projects

Peninsula Energy Ltd (ASX:PEN) managing director & CEO Wayne Heili has purchased 97,000 ordinary shares worth $20,682.52 in on-market trades.

The purchase brings Heili’s direct shareholding to 417,000 shares, along with an additional 797,374 shares under Peninsula’s employee share plans trust.

At today’s 20-cent share price Heili’s total holding amounts to nearly $243,000.

READ: Peninsula Energy notes production successes ahead of start to uranium extraction trials

Peninsula is trialling low-pH-based lixiviant instead of alkaline-based chemistry to leach uranium from ore at its Lance Uranium Projects.

During the September 2018 quarter, the uranium producer reduced its inventory and spent less on production expenditures as it underwent the transition.

Heili said in a quarterly presentation that the Lance project had a solid quarter in respect to Peninsula’s production objectives.

He said: “We recorded over 40,000 pounds of produced uranium from the Lance projects during the quarter which topped the high end of our production guidance.

“Our toll-milling service provider dried and drummed over 30,000 pounds of yellowcake during the quarter.”

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