Peninsula Energy reports operational progress at Lance Project

• Peninsula Energy achieved flow rates exceeding targets at Header House 17 and commenced production at Header House 15 at its Lance Project in Wyoming.
• Newly drilled wells delivered uranium grades over 100 mg/L, while Header House 17 reached flow rates of 500 GPM.
• The operational updates aim to support long-term development, optimise existing wellfields, and conserve capital.

Peninsula Energy (ASX:PEN) reported operational developments at its Lance Uranium Project in Wyoming, highlighting that flow rates at Header House 17 reached 500 gallons per minute.

The 500 gallons per minute flow rate at Header House 17 compares against the company's previously disclosed design target of 450 gallons per minute.

Newly drilled wells in Header House 14 delivered uranium concentrations exceeding 100 milligrammes per litre alongside strong flow rates.

The company stated that cost optimisation initiatives were implemented across Mine Unit 1 to focus reagent consumption on higher-return areas.

Following the announcement, the Peninsula Energy share price was up at $0.26.

The company appointed Brian Pile as Interim Senior Vice President to lead technical and site operations following recent leadership changes.

Peninsula Energy refined its FY27 development sequence to incorporate operational learnings and preserve capital while advancing long-term project plans.