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Highlights
- Peninsula Energy's Lance Project remains on track for uranium production by December 2024.
- Significant construction milestones have been achieved at the Wyoming-based site.
- Regulatory approval received, enabling full operational activities at the new wellfield.
Peninsula Energy Ltd (ASX:PEN) is progressing rapidly with construction and wellfield development at its flagship Lance Project in Wyoming. The company, along with its US subsidiary Strata Energy Inc, is gearing up for a restart of uranium production by December 2024, following a series of key developments at the site.
The Lance Project has reached significant construction milestones, ensuring it remains on schedule for production. The company has completed all concrete work, along with the installation of structural steel, roofing, and building siding. In addition, critical components like new ion-exchange vessels, elution tanks, and precipitation tanks have been installed on the plant slab. The installation of essential systems, including HVAC, structural steel for pipe racks, cable trays, and interior lighting, is also well underway.
Pre-production activities are in progress, with groundwater preconditioning being a key focus in Mine Unit 1 (MU-1). This aligns with the overall project timeline, ensuring that the site is ready for production once all preparations are complete.
In Mine Unit 3 (MU-3), Peninsula Energy has made further advancements with the completion of Header House 11 (HH-11), preparing the unit for groundwater preconditioning. This is a vital step as the project moves closer to the production phase.
On the regulatory front, Peninsula Energy received final approval for its MU-3 wellfield data package on October 11, 2024. This allows the company to fully proceed with operational activities in the area. There are currently twelve drill rigs actively working daily, installing production wells in MU-3 Header Houses 12 (HH-12) and 13 (HH-13). With 76% of the well installation in MU-3 already completed, the company is making significant progress.
Additionally, work continues in Mine Unit 4 (MU-4), where ore delineation drilling and monitoring well installations are ongoing. These efforts further solidify Peninsula Energy’s commitment to restarting uranium production at Lance by the end of 2024.
With construction and wellfield developments moving according to plan, Peninsula Energy is positioned for a strong restart of operations at the Lance Project, marking a significant step forward for the company’s uranium production capabilities.
