Peninsula Energy Limited (PEN:ASX) has launched a fully underwritten $69.9m placement and ANREO to drive reset production plans and ramp-up of operations.

Peninsula is the only ASX-listed uranium company providing US production and direct market exposure. Its 100% owned Lance Project in Wyoming re-commenced uranium production on resin in December 2024 and have commenced feed of uranium on resin into Phase 2 of the complete central processing plant.

Proceeds from the Equity Raise, together with existing cash and debt facility, will be applied to final payments for construction of the central processing plant, ongoing wellfield development, sales contract termination, exploration and development studies (Kendrick and Dagger) and working capital and corporate costs.

Congratulations to the entire Peninsula Energy Limited team on a great result. Shaw and Partners is delighted to be playing our part in assisting the re-start of uranium production at Lance.

The issuer of the securities is Peninsula Energy Limited. Offers of the securities will be made to retail shareholders as set out in the Retail Entitlement Offer Information booklet expected to be sent to eligible shareholders on 29 August 2025. Eligible shareholders should consider the disclosure documents carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process as detailed in the offer booklet.

For more information, please contact your Shaw and Partners adviser.