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.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · The NRC issued Strata Energy's (Peninsula Energy's US subsidiary) Combined Source and 11e.(2) Byproduct Material License for the Ross ISR uranium project in April 2014, following the Wyoming DEQ's November 2012 Permit to Mine. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
- Reached — date not disclosed · In December 2014, Strata Energy secured fully-underwritten financing commitments of US$69.4 million (from Resource Capital Fund VI, Pala Investments, BlackRock funds and JP Morgan AM UK) to fund construction of the Ross Project -- the company's real financing/decision-equivalent event, consistent with the ARTG/EU financing-commitment convention in the Task #305/#430 batch1/batch3 scripts. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
- Reached — date not disclosed · Proceeds from the December 2014 financing (see CONSTRUCTION_DECISION row) funded construction of the Ross Project's central processing plant, which commenced in January 2015 (early site preparation, access roads and long-lead equipment fabrication had begun as far back as October 2013). Stage 1 construction was completed and commissioned in November 2015. Exact day within January 2015 not confirmed from available sourcing -- recorded reached-but-undated. · Source
- Jan 2016 · First delivery from the Ross in situ leach uranium mine occurred January 5, 2016 (under Strata Energy, Peninsula's subsidiary), following the start of uranium extraction in December 2015. (The Ross/Lance operation later underwent a ~5-year halt and, from December 19, 2024, a restart under an acid-leach recovery method with an expanded Central Processing Plant -- a separate, later construction cycle at the same site, not used here since this original cycle already supplies all four milestones with better citations; see script header.) · Source
- Reached — date not disclosed · Genuinely reached under Peninsula's own continuous ownership of the Lance Project (Wyoming) throughout: an original commercial production start in December 2015 (month/year precision only, no specific day found despite research), a suspension in July 2019 (low uranium recoveries), and a restart with a specific date, 2024-12-18, all under the SAME company -- matching the Mount Polley/Chatree precedent (batch5): same mine, same continuous owner, temporarily suspended, use the earliest/original date where known. Since the earliest, most-fundamental date lacks day-level precision, left null with the full continuous-ownership history (Dec 2015 start / Jul 2019 suspension / Dec 18 2024 restart) noted rather than substitute the later restart's day for the original milestone. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · 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.
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 the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
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. 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.
A named resource-specialist claim of a Sprott Inc. stake near 7.6% could not be confirmed from any primary or near-primary source in this pass and is not carried forward with that precision -- Sprott-affiliated entities are on the register (Sprott Asset Management USA, Inc.) but no current dated percentage could be verified. 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
Lance Projects (Ross, Kendrick, Barber areas; ISR uranium, Campbell County, Wyoming), Peninsula Energy's sole asset. Two vintages of disclosed economics exist, used for different fields here because their tax bases and mine plans differ: (1) the 15 Aug 2022 Definitive Feasibility Study (DFS, Ross+Kendrick, ASX announcement) -- PRE-TAX NPV of US$125 million at an 8% discount rate, PRE-TAX IRR of 43%, based on an average realised uranium price of US$62.38/lb; 14-year mine life, 14.4 Mlb LoM U3O8 production, gross revenue US$895M, LOM AISC ~US$39/lb. No after-tax NPV/IRR was disclosed for this study in any source checked (a broker note's 'post-tax NPV10 of ~US$128m' is Shaw and Partners' own third-party model using DFS-like parameters, not a figure Peninsula itself disclosed -- not used here per the playbook's rule against using a figure whose pre/post-tax basis can't be established from the primary source itself). (2) The 5 Sep 2023 Ross and Kendrick Areas Life of Mine Plan Update (ASX announcement) revised the operating plan to a 10-year mine life at an average 1.48 Mlb/yr production rate, reporting an NPV8 of US$116 million (2023 real terms) and IRR of 26% -- but WHETHER these 2023 figures are pre-tax or after-tax is NOT stated in any source checked this pass (company PDF is not machine-readable in any mirror checked; secondary coverage -- proactiveinvestors, Nasdaq syndication -- reports the NPV/IRR numbers without the tax-basis qualifier the 2022 DFS release used). Per the playbook's explicit rule (Section 6.4, THX precedent) against writing a figure whose pre/post-tax basis can't be established, dcfNpvUsd/irrPct here are the 2022 DFS's PRE-TAX figures (basis confirmed, flagged pre-tax, NOT the after-tax convention used elsewhere in this DB), even though that DFS's underlying 14-year mine plan has since been superseded by the 2023 10-year restart plan. mineLifeYears=10 is taken from the 2023 update instead (mine-life has no tax-basis ambiguity, and reflects the plan Peninsula is actually restarting under in 2026). This is a genuine cross-vintage inconsistency in the shared fields, flagged rather than silently resolved -- a future pass should retry extracting the 2023/2024 PDFs directly (pel.net.au originals) to confirm their tax basis and align all three fields to one study. [Task #529 update, Aug 2026]: ouncesFound now written as 26,200,000 lb U3O8 -- the Ross and Kendrick Life-of-Mine (LOM) study areas' Measured+Indicated resource (May 2024 update, a 19.6% increase over the Aug 2023 LOM Plan's original figure; Kendrick alone hosts 19.8 Mlb, Ross approximately 6.4 Mlb of the combined total). This is the LOM-area resource specifically -- the basis for the mine plan already cited above -- not the broader ~58 Mlb full Lance Projects resource (which spans additional non-LOM-area ground and was not confirmed to a clean Measured+Indicated-only split this pass).