Peninsula Energy’s processing plant at Wyoming uranium project gets state approval

[Redator]

Peninsula Energy and its wholly owned subsidiary, Strata Energy Inc. (ASX: PEN, OTCQB: PENMF) announced that it has received approval from Wyoming’s Uranium Recovery Program to commence start-up of Phase 2 of the central processing plant (CPP) at the Lance project. 

The Lance project represents one of the largest US uranium projects in size and scale, with a defined JORC (2012) resource of 58 million lb. of uranium oxide (U₃O₈). The mine restart plan envisions an initial 10-year in-situ recovery operation with a production estimate of 4.1 million lb. from the Ross area, then moving onto the Kendrick area. 

The approval means that Peninsula can now progress transferring uranium on resin into Phase 2 of the CPP, utilising recovery process solutions to operate the process circuits. No further regulatory approvals are necessary to commence commercial production in Wyoming, the company said. 

On completion of Phase 2 construction, the Lance projects will be home to a 5,000 GPM uranium recovery ion-exchange process plant, with the capability to independently produce up to 2 million lb. per annum of dry yellowcake (U₃O₈) product, the company said in December. 

“The approval from the Wyoming URP is another encouraging development, demonstrating the integrity and safety of what we have built at the CPP,” Peninsula Energy CEO George Bauk said in a news release. 

“We look forward to start feeding uranium on resin from Phase 1 to Phase 2 of the CPP, completing the reset plan and working toward the production of dried yellowcake during this quarter,” Bauk said.