Peninsula Energy Ltd (ASX:PEN) managing director & CEO Wayne Heili and non-executive chairman John Harrison update Proactive Investors on the uranium company’s recently completed feasibility study for its Lance Project in Wyoming, which supports the project’s transformation to a low-pH in-situ recovery (IRS) uranium operation.
The study shows that Peninsula would become a globally competitive uranium producer by switching its uranium production method to low-pH ISR.
“This is a low-risk, high-opportunity company,” Harrison says.
He continues, “we have the ability to continue producing uranium in the manner that we are. We also have the ability – when we have the regulatory permits – to change it to a low-pH project which will only cost $5 million to convert the existing mine.”