Australia-based Peninsula Energy said on Tuesday that it was accelerating the rate of production at its Lance projects, in Wyoming, in the US, and that it expected to reach its first-stage production target of 600 000 lb/y to 700 000 lb/y in the first half of next year.
“The last five weeks have seen the rate of uranium production increase dramatically,” MD and CEO Gus Simpson stated, adding that about 7 000 lb of uranium oxide (U3O8) had been extracted from wellfields in the first ten days of July.
