pen in good position

With demand for Uranium on the increase and longer term prices of US$60/lb expected, Peninsula Minerals is well placed to take advantage of market conditions when it starts producing at Lance in Q1 2012. With a plant capable of producing 3 million lbs/annum planned and an initial production target of 1.5 million lbs/annum in the first year of production, Peninsula will be producing positive cash flow very quickly. The latest capital raising sees the company with the funds to advance beyond permitting and feasibility as it works to expand its initial JORC of 15.1 million lbs with an agressive drilling program involving 5 rigs presently working on site.
With a recent broker report valuation of 13 cents and 6 month target of 9 cents, Peninsula would appear excellent value at the last closing price of 4.2 cents.


Increased Demand For Uranium
27/04/2010 1:15:02 PM
By Rudi Filapek-Vandyck

Industry consultant TradeTech has observed increased demand in the U3O8 spot market during the week ending on Friday. According to the consultant, no less than five deals were successfully concluded during the week, causing some 600,000 pounds U3O8 to change ownership during the period.

In addition, notes the consultant, new demand has also become visible in the term market, though no deals have thus far been recorded.

The direct result of the increased willingness by buyers to accept higher prices has been for a small increase in TradeTech's spot price indicator by US25c to US$41.50/lb.

TradeTech's mid-term price indicator has remained unchanged at US$50/lb as did its long-term price benchmark at US$60/lb.