Peninsula Energy Limited (AU:PEN) has released an update.
Peninsula Energy Limited has announced a strategic equity raise of A$105.9 million to achieve sustainable positive free cash flow by Q3 2025. The fundraising involves a placement and an entitlement offer at a discounted offer price, aiming to strengthen the company’s financial position and support the development of the Lance uranium project in the US. Shareholders have shown strong support for the initiative, which is expected to position Peninsula as a significant, independent uranium producer upon the project’s re-commencement in late 2024.
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