Consensus community valuation
https://hotcopper.com.au/threads/ann-corporate-update.8820757/
CEO
“We now have a robust financial platform to progress the production ramp-up at the Lance Project, execute on our Horizon 21 plan including funding the Kendrick and Dagger studies, and supporting ongoing corporate and operational initiatives. The completion of the central processing plant expansion and production of first yellowcake demonstrates the tangible progress we have already made and our ability to deliver on strategic objectives.
Return (inc div) 1yr: -59.77% 3yr: -36.75% pa 5yr: -8.75% pa
In June 2025, the Company announced that it reached an agreement with Samuel EPC, LLC to settle all outstanding claims and variations associated with their work on Phase II of the CPP. This resulted in the Company paying an additional US$4.0 million to Samuel EPC, LLC comprising US$2.0 million in cash and US$2.0 million in Peninsula shares (issued to Samuel EPC, LLC post the end of the year).
Financial Performance Peninsula recorded a consolidated group loss for the year ended 30 June 2025 of US$12.5 million after income tax (2024: loss of US$12.4 million). During the reporting period, the Company renegotiated its portfolio of sales contracts, incurring a US$3.9 million cash cost and non-cash costs of US$7.5 million related to fulfilling uranium sales obligations and terminating five out of six outstanding sales contracts. These expenses were largely offset by a US$10.4 million non-cash fair value gain resulting from the reversal of financial derivatives associated with some of the sales contracts, previously recognised under the AASB 9 Financial Instruments accounting standard. The Company recorded other income of US$4.7 million (2024: US$1.3 million), which includes interest revenue of US$2.0 million and a non-cash US$2.7 million gain resulting from the deconsolidation of a subsidiary associated with the exit from the discontinued Karoo operation in South Africa. Corporate, administration, and marketing expenses amounted to US$8.6 million (2024: US$7.5 million). This increase reflects expanded corporate capability and activities linked to the Company's updated corporate strategy, which included resetting the Company’s sales book and securing financing for the Lance Project commissioning and ramp-up period which is anticipated to continue through the 2027 calendar year. Financial Position During the year the Company continued development of the Lance Project assets, construction of the CPP and nearby wellfields. This significant construction activity has consumed much of the Company’s cash assets raised during the 2024 year and is the primary contributor to the Company’s 30 June 2025 deficit in working capital of US$3.1 million (2024: US$99.5 million surplus). In 2025, the Company’s net assets decreased slightly from US$185.2 million as at 30 June 2024 to US$170.1 million as at 30 June 2025. This change was primarily due to ongoing construction and development activities related to the Lance Project, as well as increased corporate operations required to secure project financing through the anticipated commissioning and production ramp-up phase, which is expected to continue through the 2027 calendar year. At 30 June 2025 the Company had 159,994,581 shares on issue and 205,000 unlisted options for the Non Executive Directors, exercisable at A$6.00, expiring 29 November 2027. Statement of Cash Flows During the 2025 financial year the Company invested US$81.9 million in the construction and development of the Lance Project assets including the CPP to become an independent producer of uranium concentrate. The Company also incurred US$8.6 million expenditure in corporate, administration, and marketing activities during the 2025 financial year which included resetting the Company’s sales book and securing financing for the Lance Projects commissioning and ramp-up period which is anticipated to continue through the 2027 calendar year.
Uranium Inventory At 30 June 2025 Peninsula held 15,182 lbs of uranium concentrate. The total market value of this inventory at 30 June 2025 was US$1.1 million (US$73.70/lb U3O8).
Outlook Nuclear power is increasingly recognised as essential to energy security and decarbonisation. Globally, governments are extending the life of existing reactors, approving new builds, and providing targeted policy support to meet net-zero commitments. China’s reactor expansion program, reactor restarts in Japan and Europe, and growing demand from emerging economies underpin a positive long-term outlook for uranium. In the United States, nuclear energy is being repositioned as a cornerstone of energy security and energy dominance. The U.S. remains the world’s largest consumer of uranium, requiring more than 50 million pounds U₃O₈ annually, yet domestic production last year supplied less than one percent of this demand. Recent policy initiatives, including Executive Orders under the Trump Administration and bipartisan Congressional support, emphasise the importance of rebuilding domestic nuclear fuel supply chains. Measures include government-backed uranium purchasing programs, funding for advanced reactor technologies, and efforts to reduce reliance on Russian supply. At the same time, a new demand driver is emerging from the technology sector. The rapid growth of artificial intelligence and data centres is driving unprecedented electricity requirements. Major U.S. technology companies have publicly committed to long-term, carbon-free energy procurement, and several have announced direct investments in nuclear power projects and advanced reactor development. These initiatives highlight unique ability of nuclear energy to provide reliable, carbon-free baseload power at the scale required to support the digital economy. On the supply side, global uranium mine production continues to fall short of reactor requirements, with inventories and secondary supplies bridging the gap. Operational challenges in major producing regions such as Kazakhstan and Canada have further tightened supply, while utilities are accelerating contracting activity to ensure diversification and security of supply. The uranium price has remained strong, reflecting the supply-demand imbalance and increasing utility contracting. Market commentators expect ongoing support in the medium term as demand growth outpaces new mine supply. Against this backdrop, the Company’s Lance Project in Wyoming positions it as a domestic supplier of uranium to the U.S. nuclear fuel cycle. With production having recently re-started, the Company is aligned with U.S. policy objectives to strengthen energy security, reduce reliance on foreign supply, and deliver long-term value into an increasingly buoyant uranium market.
Wealth destroyer - are the stars, Ducks aligning the row now?
Return (inc div) 1yr: -59.85% 3yr: -37.67% pa 5yr: -10.10% pa
Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder
https://hotcopper.com.au/threads/ann-change-in-substantial-holding-from-sol.8789497/
* Soul Patts has voting power in 100% of WHSP Holdings Ltd ACN 000 002 728 (formerly known as Washington H. Soul Pattinson and Company Limited) (i.e. the former substantial holder of the company), acquired pursuant to a scheme of arrangement implemented on 23 September 2025.
** Previous substantial holder notice (Form 603) was of WHSP Holdings Ltd (formerly known as Washington H. Soul Pattinson and Company Limited) on 16 September 2025.
*** Formerly known as Washington H. Soul Pattinson and Company Limited.
Spot price ok..
Lance Projects
The Company's flagship Lance Projects, located in the tier-1 mining jurisdiction of Wyoming, USA, comprise of the Ross Production
Peninsula reports an ASIC of US$42.46 per pound U₃O₈ for the Lance Projects (Ross & Kendrick) under their Life of Mine plan. Project Area, Kendrick Development Project Area and Barber Exploration Area.
PEN not safe like a bank Term Deposit .. lol
Return (inc div) 1yr: -63.71% 3yr: -40.38% pa 5yr: -12.20% pa
EY POINTS Central Processing Plant (CPP)
Construction of Phase II of the CPP is progressing well, with commissioning and handover activities scheduled to begin in June
Settlement agreement has been executed with Samuel EPC, formally resolving all outstanding claims Reset Plan and Funding
Revised production guidance is being finalised that will lower the expected production rates in CY26 and CY27 from previous expectations, with outcomes to be released as soon as practicable following conclusion of discussions with customers and go-forward funding
The Company is currently in discussions with several parties for interim debt funding to allow time for all workstreams to be finalised
In parallel, the Company is working on a capital raise to ensure sufficient funds are available for the implementation of the plan. Such raise is expected to occur once the workstreams outlined in this announcement have been finalised
As at 31 May 2025, the Company had a cash balance of US$13million (unaudited) and nil corporate or project finance debt Sales Contracts
Advanced negotiations with offtake customers regarding amendments to sales contracts which are critical to the viability of the reset plan People
Current Strata General Manager / CFO David Hofeling will assume the role of General Manager of Operations reporting to Managing Director / CEO
Frederic Guerin, Chief Operating Officer, will step down from his role in July due to personal reasons
Changes to the organisation at the Lance Project have been completed, including a reduction in personnel Suspension Update
Suspension remains as we continue to finalise various matters including sales contracts and production guidance, together with financial and other associated plans
Last
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Change
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Mkt cap
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$98.97M
So PEN completed a share consolidation late 2024. (like the shares were 12cps last time i looked)
Commodity Price:
https://tradingeconomics.com/commodity/uranium
Updated Mineral Resource Estimate expands the Company’s flagship Lance Projects to 58.0 million pounds U3O8
Additional drilling programs are planned in CY2024 to facilitate further potential resource upgrades
Chart: 5year
2016: was $1 per share
Uranium prices were above $93 per pound in May, hovering close to their highest level in two months, as tight near-term supply magnified speculative buying from physical trusts. The US Senate approved a bill to ban selected imports of nuclear fuel from Russia, the world’s top producer. Should President Biden pass the bill, Western converters and enrichers would fall under added capacity strains as trade restrictions and voluntary shuns of Russian fuel drive utilities to compete for long-term contracts. Such a scenario would be magnified by Russian retaliation in banning exports to the US. This added to supply downgrades of uranium ores from Canada and Kazakhstan, compounding the rally for uranium prices due to its bullish long-term demand. Most recently, the US and 20 other countries announced plans to triple their nuclear power by 2050. China leads the nuclear energy bets, currently building 22 of 58 global reactors, while Japan restarted projects to build nuclear reactors.
It is pleasing to see the project evolve daily. With the momentum we currently have, we remain confident of hitting our production targets for 2025.
Q2 2025 yellow cake
Peninsula Energy Limited (PEN) is an uranium developer progressing its flagship and sizeable Lance Project into a sustainable, long-life uranium operation.
Home - Peninsula Energy Ltd (pel.net.au)
MR WAYNE HEILI
Managing Director / Chief Executive Officer
Mr Heili has spent the bulk of his 30+-year professional career in the uranium mining industry. Prior to joining Peninsula he most recently served as President and Chief Executive Officer of Ur-Energy, Inc. where he successfully oversaw the design, construction, commissioning and ramp-up of the Lost Creek in-situ uranium project in Wyoming USA.
Prior to joining Ur-Energy, Inc., Mr Heili served as Operations Manager of the Christensen/Irigaray in-situ uranium mines in Wyoming and has experience in ISR and conventional uranium mines in Texas. He holds a Bachelor of Science in Metallurgical Engineering from Michigan Technological University and is a past President of the Uranium Producers of America.
November 2023: Cap Raising-
A$60.0 (US$39.01 ) million equity raise comprising: • A$50.0 million Institutional Placement2 (“Placement”) to issue 666.7 million new shares at A$0.075 per share, and • A$10.0 million Share Purchase Plan (“SPP”) to issue 133.3 million new shares together on the same terms as the Placement
Murphies Law - What will go wrong usauslly will... blah.....
CORPORATE FUNDING REQUIREMENTS Under this revised Ross & Kendrick LoM plan, between July 2023 (commencement period of the revised LoM plan) and the point where the project is forecast to generate sustainable positive cash flows (estimated to be September 2025), an additional US$19.3M (excluding contingency) is required to be spent on the process plant. Up to this same point in time, an additional US$41.2M (excluding contingency) is planned to be spent on wellfield development CAPEX (Mine Unit 3, Mine Unit 4, and the commencement of development activities in the Kendrick Area). The wellfield capital expenditure is required to enable the flow rate to the plant to ramp-up to approximately 5,000 GPM during H2 CY2025. In the same period, the Project is projected to require US$44.3M in OPEX and site overhead expenditures. The OPEX and CAPEX contingency along with an allowance for escalation totals US$9.4M.
The total Project level expenditure projected between July 2023 and August 2025 is US$120.1M. In the same period, the Company estimates it will require an additional US$22.3M, made up of corporate costs (US$8.9M), non-project area exploration and growth initiatives (US$0.9M) and a working capital buffer allowance (US$12.5M).
The Company enters this period with a cash balance of US$21.4M and anticipates uranium sales activities to net US$26M during the same period, including the assumed sale of strategic inventory. Considering all corporate level sources and uses, the Company projects a net additional funding need of US$95M to achieve sustainable positive cash flows.
PENINSULA ENERGY LIMITED (ASX:PEN) - Ann: Lance Production to Restart in 2024 under Revised LOM Plan, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
Return (inc div) 1yr: -52.11% 3yr: 10.20% pa 5yr: -17.85% pa
PEN delays Production & Accelerates Inhouse Resin Processing
The Ross process plant at Lance was constructed in 2015 as a satellite production facility. Although fully licensed for production of a finished uranium yellowcake product, the facility was only built to produce uranium-bearing ion-exchange resins.
As at 30 June 2023, Peninsula had available cash balance of US$21.5m and balance of 210,000lbs uncommitted strategic inventory valued at US$11.8m (UxC 30JUN2023 price of US$56.00/lb). • Peninsula is hold
( acceleration of the Delay ..lol ) its like Elon Musk says Space x ( The four-minute flight ended in what the company called a “rapid unscheduled disassembly” — meaning it blew up.)
