03/04/2024 06:29

Shaw and Partners Uranium Conference: Key Takeaways

Shaw and Partners hosted its 5th Uranium Conference on 26 March 2024. Presenters included: TradeTech, Sprott Physical Uranium Trust, WMC Energy, NexGen Energy, Peninsula Energy, Paladin Energy, Alligator Energy, Lotus Resources, Bannerman, Silex and Toro Energy.

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29/11/2023 09:20

Peninsula Energy (PEN) 11c

We have made no secret of our bullish stance on Uranium at Market Matters, with holdings in Paladin Energy (PDN), Cameco (CCJ US) & Silex Systems (SLX) across various portfolios. We see nuclear energy as a key aspect of the energy transition as a cheap and reliable source of power. The price of uranium has recently traded over US$80/lb for the first time in more than a decade, up ~300% from 2008 levels as buyers, mostly utility companies, struggle to get their hands on supply. As yellow cake prices have been climbing, more and more companies are looking at bringing production online and Peninsular was expected to be selling into the market this year before issues with their mining contractor came to a head.

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11/05/2023 09:17

Peninsula Energy (PEN) 16c

Peninsula are working towards a restart of their Lance Uranium Project in Wyoming, USA with first production due next quarter and sales expected to be booked before the end of the calendar year. The relatively low-risk Stage 1 restart comes with an existing contract book with supply agreements in place through to 2033 with major US and EU utilities. The second stage of the ramp-up will require a significant capital injection, though we expect markets and the US Government to be supportive of the investment which will likely reduce the cost of capital.

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18/03/2021 09:24

Peninsula Energy (PEN) 12c

PEN is another WA based uranium business, it is the smallest of the 3 with a market cap of just $107m in our view Peninsula Energy’s flagship Lance Projects in Wyoming, USA, requires low upfront capital and can rapidly restart. PEN is the only ASX company with direct exposure to US Government initiatives which are pro-domestic mine development. Also the business is term debt free with an unrestricted net cash balance of US$8m (end Dec20q).

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