Peninsula Energy Limited (ASX: PEN) and its wholly owned subsidiary, Strata Energy Inc., have been engaged in a resin processing agreement with Uranium Energy Corp's ("UEC") Irigaray Central Processing Plant. The agreement entails treating loaded resins generated at Peninsula's Lance Projects to produce a finished yellowcake product. However, Peninsula has received notice from UEC regarding the termination of the agreement. In light of this unexpected termination notice, Peninsula has decided not to utilize UEC's resin processing capacity for the remaining duration of the agreement.
Instead, the company has opted to accelerate the development of an in-house expanded and optimized production plant to produce a high-quality yellowcake product free of impurities. This plan aligns with the restart of production at Lance and follows the roadmap outlined in Stage 2 of the 2022 Definitive Feasibility Study ("DFS").
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
