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| Peninsula Energy |
US Lance project advances with key permits; production ramp-up to follow Ross operations
ASX-listed Peninsula Energy has received the final regulatory approvals needed to begin uranium recovery at the Kendrick production area, part of its Lance Projects in Wyoming, USA. The Wyoming Department of Environmental Quality has approved both the amended permit to mine and the source materials licence, officially expanding the Ross project area to include Kendrick.
Additionally, the US Environmental Protection Agency (EPA) granted an aquifer exemption for the Kendrick injection zone—fulfilling all critical permitting requirements.
Milestone for Long-Term Uranium Output
Peninsula managing director and CEO George Bauk called the permits a “major milestone” and a key enabler for the company’s long-term growth strategy.
Kendrick contains a JORC-compliant resource of 19.8 million pounds of U₃O₈, and together with Ross’s reserves, the two areas offer 26.2 million pounds of uranium oxide, supporting over a decade of production-ready supply.
The broader Lance project contains 58 million pounds of U₃O₈, making it one of the largest in-situ recovery uranium projects in the U.S.
Path to Production Continues Despite Technical Delay
Peninsula noted that Phase 1 operations remain paused due to a piping issue at the central processing plant. However, the company expects this to be resolved before Phase 2 commissioning begins. Construction for Phase 2 is already underway, with handover and commissioning expected within weeks.
Production at Lance restarted in December, and the company is preparing an updated production plan to optimize operational rollout across Ross and Kendrick.
“As we finalise the plan, it’s important to emphasise Peninsula’s strong fundamentals—our flagship asset, committed team, and exposure to a strengthening uranium market,” Bauk added.
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