Seeking Alpha

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 Progressing Pre-Licence Construction At Lance Uranium Projects 0 comments
    Dec 19, 2013 11:41 PM

    Peninsula Energy (ASX: PEN) is continuing allowable pre-license construction activity at the Ross Permit Area of its Lance Uranium Projects in Wyoming ahead of its being issued the final Source Material Licence.

    Work is continuing at the central processing plant building and administration facility sites.

    Excavation has also started for the installation of the Containment Barrier Wall (CBW), located along the south side of the building and pond locations.

    The CBW is a key part of site construction and on-site groundwater management. It will cause ground water to be directed via a drainage system into a vertical sump for subsequent pumping into an above ground diversion ditch.

    Offsite fabrication of long lead items such as the Ion Exchange vessels and other pressure vessels is also well advanced.

    Peninsula is well positioned to move quickly to full construction of the central processing plant and production well-fields upon issuance of the SML from the Nuclear Regulatory Commission, scheduled for late March 2014.

    Subject to financing and SML grant, commencement of production at Ross is planned for the second half of 2014.

    Ross will have production capacity of up to 1.25 million pounds per annum. It will be followed by Kendrick, ramping up over several years to a steady state 2.3 million pounds per annum.

    Lance has an NPV of US$323 million and a capital expenditure of US$114 million to reach steady state production.

    Substantial Shareholder

    The company has also received a notice of initial substantial shareholding from ARSA, which holds 227,560,789 shares, or 6.997% of its voting power.

    Peninsula had issued the shares to finalise the acquisition of a 74% interest in 36 prospecting rights covering 5,600 square kilometres of the main uranium-molybdenum bearing sandstone channels in the Karoo Basin in South Africa.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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

Posts by Themes
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.