PERTH (miningweekly.com) – Uranium developer Peninsula Energy has completed the institutional placement of its planned A$35-million capital raise, raising an initial A$32-million.
The company earlier this week announced a final investment decision (FID) on its Lance uranium project, in the US, announcing a A$35-million capital raise to fund the activities.
Peninsula on Friday said that it had received firm commitments for the fully underwritten A$32-million placement, attracting significant demand from both existing and new international and domestic sophisticated and institutional investors.
“We are delighted with the strong support we have received for the placement, and I would like to thank our existing and new institutional investors for their support. The placement is an important catalyst for the company following the board making a positive FID to restart uranium production operations at the company’s Flagship Lance projects,” said Peninsula MD and CEO Wayne Heili.
In addition to the share placement, Peninsula is also undertaking a share purchase plan (SPP) to raise a further A$3-million. The SPP will open on December 2 and close on December 16.