Peninsula Energy raising $50m; Shaws, Canaccord on ticket
Uranium explorer Peninsula Energy was preparing a $50 million cash call on Thursday morning.
Peninsula expects its uranium project in US to be producing again by Q4 2024. Glenn Campbell
Street Talk understands Peninsula had its brokers, Canaccord Genuity and Shaw and Partners, drumming up support for the raise which is expected to launch on Thursday morning.
Peninsula has been plugging away at its flagship Lance project in the US and has told investors to expect production to restart by end of 2024, with a more than 10-year mine life.
In October, it added expanded its mineral rights adjacent to Peninsula, adding Dagger project which has a 6.9 million pounds inferred mineral resource estimate and a 1037 ppm average grade.
Peninsula had a $151 million market capitalisation before the raise. Its shares last traded at 12¢ after falling 33.3 per cent over the past 12 months.
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