Quarterly Activities Report for June 2024

Peninsula Energy Limited (ASX: PEN) has released its June 2024 Quarterly Activities Report, highlighting significant progress in its projects. The Company has appointed and mobilized an EPC contractor to expand the Ross Central Processing Plant (CPP), with site preparations underway to increase capacity and capability.

Construction and procurement activities are scheduled for a production restart by late 2024, alongside critical developments in the new wellfield, Mine Unit 3, aimed at uranium recovery by late 2024. During the quarter, 118 production wells were drilled, and an updated Mineral Resource Estimate has expanded the Lance Projects to 58.0 million pounds of U3O8. The Company completed an equity raising of AU$106 million to fund operations and expects to achieve sustainable free cash flow by Q3 2025. As of June 30, 2024, Peninsula has cash of US$99.9 million.

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