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The latest update is out from Peninsula Energy ( (AU:PEN) ).
Peninsula Energy has successfully completed a A$69.9 million equity raise, supported by cornerstone investor Tees River Uranium Fund and substantial shareholder Washington H. Soul Pattinson. This funding, along with the full drawdown of the Davidson Kempner debt facility, positions Peninsula with a strong financial platform to advance its Lance Project and other strategic initiatives. The company has settled a US$5 million payment for terminated uranium sales contracts, removing previous liabilities and commitments. The equity raise and debt facility support Peninsula’s goal of becoming a key uranium producer in North America, with a focus on ramping up production and completing strategic projects such as the Kendrick and Dagger studies.
The most recent analyst rating on (AU:PEN) stock is a Buy with a A$1.03 price target. To see the full list of analyst forecasts on Peninsula Energy stock, see the AU:PEN Stock Forecast page.
More about Peninsula Energy
Peninsula Energy Limited, along with its wholly owned subsidiary Strata Energy Inc., operates in the uranium industry. The company focuses on uranium production and development projects, primarily in North America, with a strategic emphasis on becoming a leading uranium producer.
YTD Price Performance: -35.76%
Average Trading Volume: 6,889,621
Technical Sentiment Signal: Sell
Current Market Cap: A$244.6M
Learn more about PEN stock on TipRanks’ Stock Analysis page.