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Peninsula Energy in back-to-back trading halts with capital raising news pending

The US strategy released in April recognises that national security is truly integrated with the health of the front-end of the nuclear fuel cycle and will support the domestic supply of uranium.

Peninsula Energy Ltd - Peninsula Energy in back to back trading halt with capital raising news
The uranium mining company owns the Lance Projects in Wyoming, USA

Peninsula Energy Ltd (ASX:PEN) has been granted two consecutive trading halts by the ASX with pending news of a capital raising. 

The trading halts will remain in place until the beginning of regular ASX trade on Thursday, June 4, or when an announcement is released to the market.

Shares last traded at 13 cents and since March 24 have traded in the range of 8.2 to 22 cents.

US strategy report

In April, Peninsula welcomed a key update provided by US Secretary of Energy Dan Brouillette in the Nuclear Fuel Working Group’s (NFWG) strategy report.

The NFWG report outlines a comprehensive whole-of-government strategy of actions that could revive the capabilities of the uranium mining, milling and conversion industries in support of the entire US nuclear industry.

Peninsula managing director and chief executive officer Wayne Heili said that, when implemented, the recommendations would provide an immediate boost to US uranium producers, such as Peninsula, through supply agreements with the Department of Energy (DOE).

He said: “This looks to be a very good outcome for Peninsula and all US uranium producers.”

Quick facts: Peninsula Energy Ltd

Price: 0.068 AUD

Market: ASX
Market Cap: $59.98 m

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