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2026-11-06
◂ Monitor PEN ASX

Peninsula Energy Limited

Ramping Producer · Uranium · United States · South Africa Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.2
1D
—
1M
—
YTD
—
1Y
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Upside
Locked: sign in to view
Mkt cap
A$114.3M
EV
A$80.9M
Cash
US$22.1M
Debt
US$0
7 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

3 assets

Core asset

Lance Uranium Project

United States

Ramping Producer100% ownedUranium

Low-pH ISR yellowcake production restarted in September 2025; June 2026 ramp-up was materially below plan because of wellfield flow, gassing and chemistry issues. CY2026 guidance was withdrawn while CY2027 guidance remains 0.5-0.6 Mlb. A 24 September independent report of an issuer release describes an expected roughly US$50 million non-cash write-down of older MU-1 to MU-3 assets, which increases uncertainty around historical invested capital.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
NPVUS$116.2M8% discount
IRR26%Published return
Initial capexUS$53.4MPublished capital estimate
Operating cost42.46USD/lb U3O8 AISC

Issuer's August 2023 Ross and Kendrick life-of-mine plan, now a superseded calibration anchor rather than a current forecast.

Resources & reserves3
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured4.3 Mlb U3O80.051% U3O8Uranium2025-12-31
Mineral ResourceIndicated12.9 Mlb U3O80.051% U3O8Uranium2025-12-31
Mineral ResourceInferred41.7 Mlb U3O80.049% U3O8Uranium2025-12-31
Tenements2
lance-mineral-rightsGranted43,361 acres · No expiry supplied
lance-surface-accessGranted11,726 acres · No expiry supplied
Milestones3
  1. Achieve withdrawn CY2026 production guidance

    Cancelled · High materiality

  2. Produce 500,000-600,000 lb U3O8 in CY2027

    At Risk · High materiality

  3. Mine Unit 5 final investment decision

    Pending · High materiality

Permits & approvals2
PermitJurisdictionStatusExpiryCritical path
Lance low-pH ISR operating approvalsWyoming Department of Environmental Quality and US regulatorsGranted—No
Kendrick permit-to-mine, source-materials licence and aquifer exemption amendmentsWyoming and US EPA Region 8Granted—No
Economic studies1
StudyStageStatusDateSummary
Ross and Kendrick revised life-of-mine planOperating PlanSuperseded2023-08-31Ten-year 14.8 Mlb plan with US$116.2 million NPV8 at US$67.07/lb weighted realized price; operating ramp assumptions were superseded by later resets and observed commissioning issues.

Material

Dagger Uranium Project

United States

Resource Stage100% ownedUranium

High-grade satellite uranium resource approximately 20 km from Lance's central processing plant; future development and study work remain unproven.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceInferred6.9 Mlb U3O81,037 ppm U3O8Uranium2023-10-23
Milestones1
  1. Complete Dagger scoping work and define development pathway

    Pending · Medium materiality

Other

Karoo legacy tenements

South Africa

Care And MaintenanceUraniumOthers

Legacy uranium and molybdenum prospecting rights are expired or relinquished with environmental closure applications submitted; no value is attributed.

Tenements1
karoo-legacy-rightsExpired— None · No expiry supplied