Join our daily newsletter At The Bell to receive exclusive market insights
- Peninsula Energy (PEN) receives approval to use different oxidants in the uranium extraction process at its Lance project in Wyoming, US
- The Wyoming Department of Environmental Quality granted the licence amendment, allowing Peninsula to use three different commercially-available oxidants
- Peninsula says the flexibility that will come from a wider choice of oxidants will be useful during supply shortages
- Work is underway for a potential re-start of production at Lance, and the company says today’s approval is another key milestone in its advanced preparations
- Company shares are trading 1.3 per cent lower at 23 cents at 11:53 am AEDT
Peninsula Energy (PEN) has been granted approval to use different oxidants in the uranium extraction process at its Lance project in Wyoming, US.
The Wyoming Department of Environmental Quality Uranium Recovery Program granted Peninsula’s subsidiary, Strata Energy, the approval of a requested license amendment enabling the use of several different oxidants in conjunction with low pH lixiviants.
According to Peninsula, studies have shown introducing oxidizing agents to the lixiviant stream can result in higher uranium recovery rates.
With the amendment, the company can select from three different commercially available oxidants — a choice it said would be useful during supply shortages.
The amended licence is also predicted to provide cost savings through added flexibility in the design and location of reagent storage and distribution systems.
Work is underway for a potential re-start of production at Lance using a low-pH in-situ recovery method, and Peninsula said this approval was another key milestone in its advanced preparation work for the project.
Company shares were trading 1.3 per cent lower at 23 cents at 11:53 am AEDT.
