Peninsula Energy Limited
Peninsula Energy's 100%-owned Lance Project in Wyoming resumed ISR production in Dec 2024 after transitioning to low-pH processing, with output continuing to ramp through 2025-26 alongside commissioning of the central processing plant. Cash of A$47.69 million and debt of A$18.64 million.
Notable vs. Peers
- Trading within 5% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Jan 2016 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: tailings facility. Not yet determined: road access, grid power.
Jurisdiction (40%)9/10
Wyoming: Fraser PPI 2024 is 93.25 of 100 (rank 5 of 82; not rated in the 2025 survey), which maps to 9 on this site's scale. Wyoming ISR uranium operations sit within one of the most established, mining-friendly US states. Peninsula's functional/reporting currency is confirmed AUD despite the project and most operating costs being US-dollar-denominated.
Infrastructure (40%)5.7/10
A confirmed mill and no confirmed tailings facility at Lance Project, Wyoming; road access and grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:4/10
Primary commodity: Uranium
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Managing Director and Chief Executive Officer of Peninsula Energy Limited. Over 30 years of global experience across the uranium, rare earths, gold, lithium and graphite sectors, having established and managed companies, led major projects from exploration to production, and raised over A$670 million through equity, debt financing and government grants. Has built strong political and industry connections across Australia, the USA and key global markets. Prior to joining Peninsula served as Executive Chair at Thunderbird Resources and Non-Executive Chair at PVW Resources, Lithium Australia and Spartan Resources (formerly Gascoyne Resources), and was Managing Director and CEO of Northern Minerals Limited -- formerly Northern Uranium -- from March 2010 to June 2020.
Chief Financial Officer of Peninsula Energy Limited. Seasoned CFO with over 25 years of experience in ASX-listed companies, with expertise in capital management, debt and equity, corporate governance and controls. Previously Deputy CFO for Emeco Group, where he played a key role strengthening financial operations, implementing enhanced trade credit processes, securing a credit ratings upgrade and managing debt and equity capital to support strategic growth and return on capital initiatives. Has also served as Interim CFO and Company Secretary at Zenith Energy and CFO at Swick Mining Services, and held senior roles at Macmahon, Barminco and Aditya Birla Minerals. Member of the Chartered Accountants of Australia and New Zealand and of the Australian Institute of Company Directors.
Vice President of Corporate Development of Peninsula Energy Limited. Accomplished Chartered Accountant with a strong strategic focus on the development and execution of strategic initiatives. Previously Interim CFO at Peninsula Energy as well as Chief Executive Officer of Peninsula's South African operations, and before that Vice President of Business Development for Uranium One Inc. MBA, North-West University.
Company Secretary of Peninsula Energy Limited; also Chief Financial Officer & Company Secretary of Infinity Metals Limited. Chartered Accountant with extensive corporate, company secretarial and financial accounting experience across a number of listed and unlisted resource sector companies. Currently also Company Secretary of ASX-listed Ironbark Zinc Limited and Infinity Lithium Corporation Limited and of AIM-listed Empyrean Energy Plc. Previously worked in the investment banking sector in London over a period of six years for Credit Suisse and Barclays Capital Plc.
Chief Executive Officer of Strata Energy Inc, Peninsula Energy Limited's Wyoming operating subsidiary. Over 30 years' experience in uranium exploration, property evaluation, mine construction and mine operations throughout North America, Kazakhstan and Australia. Prior to joining Peninsula held senior management positions at Uranium One, most recently as Senior Vice President, Projects, and for over 25 years held various mid-level and senior management positions for Cameco's USA subsidiaries Crow Butte Resources and Power Resources and for the JV Inkai operation in Kazakhstan. Has been directly involved in the start-up and/or operation of five In Situ Recovery projects on three different continents.
General Manager of Operations of Strata Energy Inc, Peninsula Energy Limited's Wyoming operating subsidiary. Over 20 years' experience in finance and accounting specific to the mining industry. During 16 years with Rio Tinto was responsible for financial oversight including global finance, governance, compliance, tax optimisation and risk management at numerous domestic and international aluminium, copper, gold and nickel capital and exploration projects, and also worked for six years in Nevada gold operations.
Vice President of Operations and Projects of Strata Energy Inc, Peninsula Energy Limited's Wyoming operating subsidiary. Brings 22 years of project experience ranging from development of feasibility studies, engineering and construction through operational start-up, related to in-situ recovery of uranium in Wyoming, Nebraska and Kazakhstan. Primary responsibility at present is the evaluation of learnings from the MU1A field demonstration and the preparation of updated capital and operating costs for the Lance Project.
Vice President of Health, Safety and Environment of Strata Energy Inc, Peninsula Energy Limited's Wyoming operating subsidiary. Brings 25 years of experience in health and safety, regulatory and environmental management roles for mining companies, including extensive in-situ uranium experience in Wyoming. Is actively working to complete the development and implementation of a Quality Management System and an Environmental Management System with the intention of the company becoming ISO 9001 and ISO 14001 certified.
Geology Manager of Strata Energy Inc, Peninsula Energy Limited's Wyoming operating subsidiary. Over 13 years of uranium-specific geology experience in Wyoming, having worked as a geologist for both Ur-Energy Inc. and Strata. In-situ recovery specific experience includes geology management services from development and delineation drilling to wellfield design and construction, drilling supervision, wellfield operations, geophysical logging and reclamation.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Davidson Kempner converted a US$4.2M loan into shares in June 2026 (reaching 7.68%) but then sold down through August 2026, falling to 4.92% and ceasing to be a substantial holder -- alongside Citigroup and Morgan Stanley, which also recently exited or converted debt to equity rather than making fresh cash purchases. No clear pattern of company directors buying shares on-market was found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Peninsula Energy owns 100% of the Lance in-situ recovery uranium project in Wyoming, which restarted production on 18 December 2024 using low-pH processing. Measured and indicated resources contain 17,200,000 lb of U3O8 (4,300,000 lb measured and 12,900,000 lb indicated), plus 41,700,000 lb inferred, as at 31 December 2025. In the June 2026 quarter Peninsula withdrew its 2026 production guidance after a slower-than-expected wellfield ramp-up and reduced flow rates, while reaffirming 2027 guidance of 500,000-600,000 lb, and it arranged a US$56M funding package that included a US$30M convertible note. The company withdrew its earlier life-of-mine plan in August 2025 and has not published replacement study economics, and a new wellfield, HH15, began producing on 2 September 2026.