PERTH (mininingweekly.com) – Uranium developer Peninsula Energy will be ramping-up pre-development activities at its Lance project, in Wyoming.
The company said on Tuesday that over the next 12 to 18 months, Peninsula would focus on key site-specific technical, process development and optimisation activities to prepare Lance as the only commercial low pH in-situ operation in the US, after completing the laboratory phase of optimisation testwork.
“Developments in the uranium market over the recent past have been highlighted by limited global production and restraint of mid to long-term purchasing activities by end-users, which indicates a strong likelihood of increasing price and purchasing activity over the coming months and years,” said MD and CEO Wayne Heili.
“Peninsula will use its strong balance sheet to sensibly progress Lance with the advantage of knowing that if markets warrant, we could make an investment decision in parallel with the optimisation workstream and be in commercial production within a six-month timeframe.”
Peninsula is in the midst of licence amendment applications for the use of oxidants with a low pH in-situ operation process, and for the use of ponds for solids management in future operation. The company expects to have completed these licence amendments by mid to late 2021.