PERTH (miningweekly.com) – Uranium miner Peninsula Energy has opened its share base to North American traders with a listing on the US over the counter (OTC) Pink Market.
The ASX-listed company said on Friday that it would upgrade its OTC market tier to the OTCQB Venture Market.
“Expansion into this additional trading marketplace is due to longstanding interest and growing support for Peninsula in the US. The US market has demonstrated a keen awareness of Peninsula and its Lance project that can resume production in the near term,” said CEO and MD Wayne Heili.
“In late December, the US government funded the establishment of a Strategic Uranium Reserve with a $75-million allocation for 2021. Only a handful of companies will be able to supply material into the uranium reserve, and Peninsula is fortunate to be in a strong position as the only ASX-listed company with exposure to this opportunity.”
Peninsula is focusing on site-specific technical, process development and optimisation activities to prepare its Lance project, in Wyoming as the only commercial low pH in-situ operation in the US, after completing the laboratory phase of optimisation testwork last year.
Peninsula is in the midst of licence amendment applications for the use of oxidants with a low pH in in-situ operation processes, 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.