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Peninsula Energy (ASX:PEN) - Executive Chairman, John Simpson
Executive Chairman, John Simpson
Source: Business News
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  • Peninsula Energy (PEN) reaches its targeted pH levels at the Lance Uranium Project in Wyoming, US
  • Over the past few weeks, the company has been undertaking field operations at the project to optimise in-situ uranium recovery
  • Results from this fieldwork have shown that low pH in-situ recovery has significantly improved production results
  • As a result, the composite production stream pH and free-acid levels are reaching the company’s control targets
  • On the market today, Peninsula Energy is down 5.88 per cent and is trading at 16 cents per share

Peninsula Energy (PEN) has reached its targeted pH extraction levels at the Lance Uranium Project.

In 2019, Peninsula completed the regulatory process for the use of low pH in-situ uranium recovery at the Lance Uranium project in Wyoming, becoming the only operator authorised to use the technique in the US.

In-situ recovery involves the extraction of uranium-bearing water that is filtered through resin beads.

This is done through an ion exchange process, the resin beads attract uranium from the solution, these loaded resins are then transported to a processing plant, where uranium oxide is separated from the resin beads. The resin beads are then returned to the ion exchange facility where they are reused.

Over the past few weeks, the company has been undertaking field operations at the project. Results from this fieldwork have shown that low pH in-situ recovery has significantly improved production results.

The composite production stream pH and free acid levels are reaching the company’s control targets.

“In reviewing the results of the field demonstration over the past few
weeks, it is clear that the learnings-based adjustments implemented at Lance were well-thought-out and appropriate,” CEO Wayne Heili said.

“The composite production stream pH and free acid levels are now meeting our control targets and importantly, the uranium solution grade has responded with a strong improvement.

“The information gained during the demonstration operations will be applied to the commercial low-pH approach as the company progresses the Lance Project toward a return to production.”

The last update on Lance outlined actions that had been taken across key focus areas to enhance performance. Since then, field operations have run consistently and the response has indicated favourable trends, meaning no further filed layout adjustments have been required.

On the market today, Peninsula Energy is down 5.88 per cent and is trading at 16 cents per share at 11:44 am AEST.

PEN by the numbers
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