Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Peninsula Energy Top 20 Shareholders Show Confidence With 9% Increase In Shareholding 0 comments
    Aug 2, 2013 2:14 AM

    Peninsula Energy's (ASX: PEN) top 20 shareholders have demonstrated their confidence in the company by increasing their combined shareholding over the year by 9% to 41.18% of its expanded capital.

    The increase of more than 400 million shares, or 49%, occurred during the period from 1 August 2012 to 1 August 2013.

    Peninsula continues to progress its Lance Projects in Wyoming towards production and had completed 20 monitoring wells and 23 delineation holes in the June 2013 quarter.

    The monitoring wells are helping further refine site specific geological and hydrological parameters, increasing its wholly-owned subsidiary Strata Energy's overall understanding of the ore body and extraction rates.

    While results from the delineation well drilling generally reconcile well against the previous exploration drilling results, several of the delineation drillholes intersected significant mineralisation outside the existing resource body.

    Highlights include MU1-OZ6 which intersected 7.5 feet at 950ppm U3O8 Grade Thickness (NASDAQ:GT) 0.71 and MU1-OZ9 which intersected 6ft at 1000ppm U3O8 GT 0.60.

    The company is also reviewing core from a three hole program within the planned Mine Unit 1.

    These were drilled to provide information on recoveries and to refine the most efficient leach agent chemistry for the Ross ore body.

    The company is also advancing its Karoo projects in South Africa up the development curve.

    Peninsula had $11.73 million in cash and cash equivalents as well as US$22 million in undrawn funds under the BlackRock Notes Purchase Agreements as of 30 June 2013.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.