Name of the Project
Lance Projects – Ross and Kendrick production areas.

Location
Wyoming, in the US.

Project Owner/s
Peninsula Energy.

Project Description
A definitive feasibility study (DFS) completed on the Ross and Kendrick Production Areas at Lance in August 2022, based on a total resource base of 21.8-million pounds of uranium, has confirmed a globally competitive uranium in situ recovery operation. The DFS envisages a “capital efficient” two-stage project.

Key results from the DFS include life-of-mine production of 14.4-million pounds of uranium, with steady-state production from Year 4.

Stage 1 involves the transition of the current facility operations to achieve production at a nameplate rate of 820 000 lb/y.

The Stage 1 nameplate capacity has been revised downward from 1.15-million pounds a year, owing to the planned reconfiguration of the ion-exchange section of the Ross plant.

Stage 2 is the expansion of the Ross plant facilities to a nameplate capacity of two-million pounds a year, the addition of back-end plant processes to generate a final yellowcake product rather than loaded resins, and the addition of corresponding new wellfield capacity to produce at a steady-state rate of two-million pounds a year.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $125-million and an internal rate of return of 43%.

Capital Expenditure
Life-of-mine capital expenditure is estimated at $290.6-million.

Planned Start/End Date
Not stated.

Latest Developments
A final investment decision on the restart of operations is expected in the second half of the 2022 calendar year.

Key Contracts, Suppliers and Consultants
Western Water Consultants (DFS).

Contact Details for Project Information
Peninsula Energy, tel +61 8 6263 4461 or email info@pel.net.au.