Proactive Investors - Run By Investors For Investors

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.”

View full PEN profile View Profile

Peninsula Energy Ltd Timeline

Related Articles

Battery metals favoured by electric vehicle manufacturers are a focus for Tony Sage outfit FEL
April 30 2019
FEL is acquiring lithium projects near Fortescue Metals Group discoveries in the Pilbara region of WA.
Past drilling at Seko target at Dandoko project where follow-up drilling is taking place this field season
March 25 2019
A $5 million ongoing drilling program has been delivering results since November.
May 28 2019
In March, IronRidge reported multiple new high-grade lithium pegmatite intersections in reverse circulation drilling at Ewoyaa

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use