Peninsula Energy
Peninsula Energy (ASX:PEN) is an emerging ASX listed Uranium producer with assets in the USA and South Africa. The company is focused on advancing the Lance ISR Projects, located in the Powder River Basin, Wyoming USA through to production, and to take the Karoo Projects in South Africa further up the development curve.
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Uranium stocks on the move as US Senate approves reserve bill
Uranium prices have risen to their highest point in nearly five years after a bill to create a national US uranium reserve was passed by the US Senate.
Uranium, which is widely used in nuclear power plants, was fetching US$29.70/pound as markets closed last Friday.
US intitiatives
On that day, the US Senate Committee on Environment and Public Works approved a bill that advances a federal initiative to establish a national, strategic uranium reserve. It had bipartisan support.
This is good news for uranium suppliers, particularly those who plan to sell uranium to the US Department of Energy.
Under the new American Nuclear Infrastructure Act, the DOE will only be able to buy uranium recovered from facilities licensed by the Nuclear Regulatory Commission or equivalent agreement state agencies.
Importantly, it will exclude companies owned, controlled or subject to jurisdictions in China or Russia from selling uranium to the US.
Other Peninsula Energy news
- Peninsula Energy appoints experienced uranium executive to chief financial officer role
2020-07-13 - Peninsula Energy in back-to-back trading halts with capital raising news pending
2020-05-29 - Peninsula Energy says new US report "a very good outcome for all US uranium producers"
2020-04-24 - Peninsula Energy to strengthen balance sheet with debt restructure
2019-11-05 - Peninsula Energy secures speculative buy recommendation from Euroz Securities
2019-07-22
