Peninsula to restart US uranium operations following equity raise

Further, the company has announced that it has entered into an underwriting agreement with Canaccord Genuity (Australia) Limited to conduct a fully underwritten institutional placement of 244 million new fully paid ordinary shares to raise AUS$32 million and launch a nonunderwritten SPP to eligible shareholders in Australia and New Zealand to raise up to a maximum of AUS$3 million.

Peninsula’s Managing Director and CEO, Mr Wayne Heili, said:

“It is with a tremendous sense of excitement that we are advancing the Lance projects back into production. Our team has put an enormous amount of work over recent years into the transition to a low-pH ISR operation and we will be confidently moving forward to production. The underwritten placement supports the Board’s investment decision and marks a great milestone for the company. Now, with this AUS$35 million equity issue, the preparatory works that have already been completed, and the commencement of restart works, we are on a clear pathway to production commencing in 1Q23.”

Read the article online at: https://www.globalminingreview.com/mining/28112022/peninsula-to-restart-us-uranium-operations-following-equity-raise/