Peninsula Secures New Long-Term Uranium Sales Agreement

Peninsula Energy Limited (ASX:PEN) has announced a new sales contract through its subsidiary, Strata Energy Inc., for uranium yellowcake from the Lance Projects in Wyoming, USA. The agreement with Synatom, a European nuclear fuel buyer, entails selling 1.2 million pounds of uranium over six years from 2028, pending Euratom approval.

The pricing structure, including base and market components, is anticipated to yield revenue between US$88 million and US$117 million, exceeding production costs. This addition brings Peninsula's total contractual sales obligations to 6.0 Mlbs over ten years, aligning with their production projections. CEO Wayne Heili highlights the favorable market conditions allowing for improved pricing structures, enhancing financial stability and customer relationships.

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