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Peninsula Energy moving towards low pH operations at Lance Uranium Projects

The company is in advanced negotiations to sell a portion of its interest in an existing long-term uranium concentrate sale agreement.

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Peninsula is aiming to enhance the productivity and cost profile of its flagship asset

Peninsula Energy Ltd (ASX:PEN) has confirmed that no public comments were submitted for the pre-decisional State Decision Document prepared by the Uranium Recovery Program (URP) within the Wyoming Department of Environmental Quality (WDEQ).

Background

In April 2019, the WDEQ URP completed its review of the low pH amendment request of Peninsula’s Source Materials License (SML) for the Lance Projects in Wyoming, US.

The WDEQ URP prepared for public review and comment a pre-decisional State Decision Document which supported the issuance of the requested amendment to enable low pH operations at the Lance Projects.

The public comment period concluded on June 17 2019 and Peninsula has ascertained that no public comments were submitted.

READ: Peninsula Energy set to benefit from US move to protect domestic production of uranium

The WDEQ URP is now responsible for preparing a final decision on the proposed SML amendment, with the completion expected within 30 business days of the closure of the public comment period.

Upon the conclusion of the SML amendment process, Peninsula will have completed the low pH permit amendment process for its two primary licenses / permits.

Contract monetisation

Peninsula is in advanced negotiations with other parties to sell a portion of an interest in an existing long-term uranium concentrate sale and purchase agreement for an upfront cash consideration.

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