Announcement Date: 2022-08-15
Announcement Type: Feasibility Study
Announcement Code: JORC
Company name: Peninsula Energy Ltd.
Project name: Lance
Location: United States
Commodities: Uranium
Highlight: Feasibility study results incl. pre-tax NPV of US$125M, IRR of 43%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The August 2022 Definitive Feasibility Study (the Study) completed for the Ross and Kendrick Production Areas within the Lance Projects includes Measured and Indicated resources, and based on historical experience at Lance, utilizes a resource conversion factor of 61% to convert Ross and Kendrick Area Inferred resources to Indicated or greater quality for use in this study. The purpose of the Definitive Feasibility Study is to demonstrate the economic viability of the Ross and Kendrick portion of the Lance Projects and the robustness of the planned low pH operations over an extended mine life beyond the fully licensed Ross Production Area. The Definitive Feasibility Study itself is based on various material assumptions as noted in Appendix 2. This includes the homogeneity of the delineated ore body contained within the Lance Projects which is considered reasonable by the Company’s technical consultants, competent persons and independent external consultants. The Company believes that it has a reasonable basis upon which to prepare and release these Definitive Feasibility Study results, particularly given that the Ross Production Area was first placed into production in December 2015. Whilst the Company considers that all material assumptions underpinning the Definitive Feasibility Study are based on reasonable grounds, there is no certainty that they will prove to be correct or that the outcomes indicated by the Definitive Feasibility Study will be achieved.
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