Peninsula Energy Limited Begins Low pH Field Demonstration

For low pH insitu recovery (ISR) at the Lance Projects in Wyoming, USA the company is delighted to announce that its wholly owned subsidiary, Strata Energy, Inc has initiated field demonstration activities. In early November 2018, this activity follows the approval of the field demonstration as a non-significant revision to the existing Permit to Mine by the Wyoming Department of Environmental Quality and the completion of wellfield and process plant modifications necessary for the demonstration to be conducted.

Located in Mine Unit 1 of the Ross Permit Area at the Lance Projects the low pH ISR field demonstration has commenced within a selected set of wellfield patterns. Bringing the pH level within the pattern area down to approximately 2.0 standard units, which being the pH level proven in laboratory testing, the first 1 to 2 months of the demonstration will be dedicated, to deliver greatly enhanced uranium recoveries. The site operating team will then focus on transitioning to the groundwater restoration phase, following a period of low pH uranium recovery testing activities.

To allow commercial scale low pH operations at the Lance Projects, the company has submitted the necessary permit and license amendment requests with the WDEQ. For the existing Source Materials and By-product License the WDEQ is currently reviewing the amendment request. On the PTM amendment application the agency is also currently accepting public input. Regarding the progression of both amendment requests in the coming weeks the company expects to make further announcements.

In the company’s transition to low pH operations at the Lance Project the start of the field demonstration marks another important milestone. To further demonstrate the positive impact that low pH in-situ recovery is expected to have on the Lance Projects this significant effort by the company is intended.

Peninsula Energy Limited (ASX: PEN) is currently trading up by 3.03% at $0.170 which is however close to its 52-week low. The stock has seen a performance change of -61.18% in one year and -25.00% in the last one month. The company has a price to earnings ratio (P/E) of 56.900 and the earnings per share (EPS) of 0.003 AUD. At current market price the market capitalization of the company stands at $39.88 million.


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