Peninsula Energy has pushed back the restart of commercial production at its Lance uranium project, in Wyoming, USA
PERTH – Uranium developer Peninsula Energy has pushed back the restart of commercial production at its Lance project, in Wyoming, from the first quarter of this year until mid-2023.
The ASX-listed company on Thursday explained that there had been a delay in the delivery of equipment.
The Stage 2 plant and wellfield expansion would require a further $69.9-million investment, while the wellfield replacement and sustaining capital would require a further $196-million investment. The Lance project holds a Joint Ore Reserves Committee-compliant resource of 53.7-million pounds of uranium oxide , making it one of the largest uranium production development projects in the US.
The DFS into the Ross and Kendrick production areas estimated that the two production areas could produce a combined two-million pounds of uranium a year at steady-state production from the fourth year of production, producing 14.4-million pounds of U
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