Peninsula Energy (ASX:PEN) announced it has completed its first U3O8 delivery under its wholly owned subsidiary, Strata Energy Inc.’s 2011 sale and purchase agreement with a United States utility.
As quoted in the press release:
On December 2, 2015 in-situ uranium recovery operations began from the Ross Permit Area of the Lance Projects in Wyoming, USA. Production well flow-rates continue to be very good, uranium is being recovered and the second header house is being commissioned. Phase one full production will see a total of 7 header houses in operation.
Peninsula has four significant uranium concentrate sale and purchase agreements in place for a major portion of production over the first five years of operations. These committed sales contracts substantially increase revenue certainty whilst allowing a significant amount of planned production to be free for future contracting in what is expected to be in an environment of increasing prices.
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