Peninsula Energy's (ASX: PEN) growth into a mid-cap miner...

Peninsula Energy's (ASX: PEN) growth into a mid-cap miner through successful uranium operations in the United States has been rewarded with the company now included in the S&P/ASX All Ordinaries Index.
Gus Simpson, executive chairman, said on the inclusion, ?Peninsula?s entry into the ranks of Australia?s top companies is a significant achievement, reflecting the growth trajectory of the company as well as serving to raise the profile of Peninsula within a broader range of potential investors.?
Peninsula growth over the medium term will be well supported by last months announcement of the first sales agreement signed.
The agreement is to supply 1.15 million pounds of uranium oxide over seven years to a Tier 1 power utility in the United States, a significant milestone.
The deal will render Peninsula as one of the largest producers of uranium in the United States when production is ramped up at the Lance projects.
Production is targeted to commence at Lance in 2012 and build to 1.5 million pounds of U3O8 per year, with a plant capacity of 3 million pounds annually.
The agreement is a result of the company's proactive approach in 2010 which aimed at securing sales agreements, with negotiations continuing with other groups involved in the nuclear power industry.
Peninsula is likely to sign additional sales agreements with large utilities in the United States.

http://www.proactiveinvestors.com.au/companies/news/14463/peninsula-energy-growth-rewarded-with-spasx-all-ordinaries-inclusion-14463.html

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