Ann: Quarterly Activities Report, page-9

B.S Contracted sales at $55 per lb represent only 1/3rd of the projected LoM production from Ross and Kendrick (only). They intend 2025 to ramp up to a steady-state production of 1.8 Mlbs U3O8 per year of dry yellowcake. Only 600k lbs of this are contracted at this price.

Peninsula retains full flexibility to maximise value from the sale of any future production from its other Barber and Dagg deposits. Barber holds over 30 Mlbs of predominantly Inferred Resources with huge exploration upside and Dagg a further 7Mlbs. They are licensed to produce up to 3.0 Mlbs per annum.

The upside here is massive even with the 600k lbs contracted against downside risk. 2.4Mlbs per year at market price sounds absolutely incredible to me.

This will all be produced in the USA. This narrative is worth multiples over African risk projects and with the US currently in the process of banning Russian Uranium this will reach these projected projection targets government incentive will take care of that.

This is the biggest undervalued ASX Uranium play imo.

p.s did someone say fully funded into production!