Peninsula produces first yellowcake at Lance project
ASX-listed Peninsula Energy on Tuesday announced it had achieved first dried yellowcake production from its expanded Lance central processing plant (CPP) in Wyoming, US.
The achievement follows approval last month from the Wyoming Uranium Recovery Programme to begin feeding uranium-loaded resin into Phase 2 of the CPP and the completion of commissioning activities. Peninsula is now a fully independent, end-to-end producer of dried yellowcake.
“First yellowcake production from our Lance Central Processing Plant, just 14 months from first concrete pour for the CPP expansion, is an excellent achievement and a significant milestone for Peninsula,” MD and CEO George Bauk said.
He added that the company was aligned on “a clear and strategic path forward that sets Peninsula up for sustained success as a key supplier to US and global energy markets”.
Scale-up of production is under way, in line with Peninsula’s revised targets. The CPP has capacity to process uranium on resin from Peninsula’s satellite projects, including Barber and Dagger, and is positioned to scale up towards nameplate capacity of two-million pounds a year of dried yellowcake.
With Kendrick already permitted for mining and Dagger and Barber offering exploration upside, Peninsula said it was well placed to expand production in line with its growing project portfolio.
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