uranium spot crashes to 31.50, page-24

Hi Binbin

IMO you are wright, this was only a Requests For Product, no lock in contract but this fell over as PEN was not in production in 2012 like they promised the punters. Can any show me where PEN has been selling U for over $70 pound since 2012 LOL, I think not. IMO pen will tank with U hitting $31 and people will sell into the SML announcement.

15 October 2010
Companies Announcement Office
Via Electronic Lodgement
PENINSULA RECEIVES RFP’S FOR LONG TERM URANIUM SUPPLY
Peninsula Minerals Limited (Peninsula) is pleased to announce that it has received formal
Requests For Product (RFP) to supply uranium oxide from three USA power utilities.
Over the past twelve months Peninsula has engaged key utility and end user groups with
the ultimate aim of securing long term sale and purchase agreements for U3O8 from the
Lance Projects.
To this end the Company is currently responding to the RFP’s it has received in a form that
would secure the sale of U3O8 at an escalated fixed price, fixed quantity and term for the
Lance Projects production, which is planned to commence in 2012.
Peninsula’s intention is to secure long-term agreements for more than 50% of its forecast
uranium oxide product from Lance. It is expected that these agreements will be put in
place between the completion of the Definitive Feasibility Study (DFS) and the debt
financing arrangements being finalised.
Together with the completion of the DFS and permitting, the securing of long-term sale
contracts will add to Peninsula’s ability to secure favourable project financing terms and
maximise the debt component.
Executive Chairman Gus Simpson said “As Peninsula advances the permitting and DFS we
are also negotiating long term sale agreements which will add to the Company’s ability to
achieve a more attractive funding outcome”.
Yours Sincerely
John (Gus) Simpson
Executive Chairman
For further information, please contact our office on