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Peninsula Energy raised $70M to restart uranium production in Wyoming, targeting 50K pounds in 2025 and up to 1.5M annually by 2028.
Peninsula Energy has completed a $70 million equity raise to support its Lance in-situ recovery uranium project in Wyoming, enabling the restart of its central processing plant after a four-year shift from alkaline to low-pH acid leaching.
The company aims to produce 50,000 pounds of uranium in 2025, scaling to 400,000–600,000 pounds annually by 2026–2027 and up to 1.5 million pounds per year by 2028.
The project holds a 58-million-pound JORC-compliant resource, with ongoing development at satellite sites, including high-grade potential at Dagger.
The move follows rising uranium prices, U.S. policy favoring domestic nuclear energy and a ban on Russian uranium imports, and growing investor confidence in Peninsula’s revised strategy.
Peninsula Energy recaudó $ 70 millones para reiniciar la producción de uranio en Wyoming, con un objetivo de 50 mil libras en 2025 y hasta 1.5 millones anuales para 2028.