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.)
