Peninsula Energy: Setting the Stage for Diversified Uranium Production
Uranium Investing News reached out to John (Gus) Simpson, executive chairman of Peninsula Energy (ASX:PEN), to learn more about what sets the company apart from other uranium exploration and development companies.
With so many uranium companies at play in the current market, it can be difficult to know which ones present investors with the best opportunities. And while investors are strongly encouraged to do their own due diligence, it's worth having a peek at which companies have landed on our readers' radar. Based on a recent reader request, Uranium Investing News (UIN) reached out to John (Gus) Simpson, executive chairman of Peninsula Energy (ASX: PEN), to learn more about what sets the company apart from other uranium exploration and development companies vying for investor attention. Peninsula Energy has set its sights on becoming a diversified uranium producer. The company plans to accomplish this feat through the development of its large uranium assets in both Wyoming and South Africa. UIN: Recently Peninsula Energy was identified as one of the uranium companies our readers are watching. In your opinion, what is it about Peninsula that sets it apart from other companies in its class?JS: I think two things set us apart. The first is the scale of our deposits. Most teams in Wyoming are looking at production levels of around half a million to a million pounds a year, and we're looking at 2 to 3 million pounds. We're licensing our central processing plant to do that. The second is that we have two project groups. We've obviously got Wyoming, as I just mentioned, where we've currently got 54 million pounds, but we believe ultimately we'll have several hundred million pounds. The other project group is a very large South African projects in the Karoo where we have about 8,000 square kilometers of mineral tenements, 100 million pounds of resources — we believe that there's probably close to 300 to 350 million pounds within the tenement holding. The scale of that project — if and when it gets into production — will be 3 to 4 million pounds a year for production.