Peninsula Energy Gets Green Light to Kick Off Phase 2 at Wyoming’s Lance Uranium Project

Peninsula Energy just got the go-ahead to move its Wyoming uranium project into the next gear — and it’s a big step toward full production.

The company and its US arm, Strata Energy, have locked in approval from Wyoming’s Uranium Recovery Program to start Phase 2 at the Central Processing Plant (CPP) for the Lance Project. The sign-off means they can begin moving uranium on resin from Phase 1 into Phase 2 and start using recovery process solutions — no more regulatory hoops to jump through before commercial production.

ASX- and OTCQB-listed Peninsula says the focus now is on commissioning the CPP and lining up funding to get Lance back into full swing. CEO George Bauk called the approval “another encouraging development” that proves the plant’s safety and integrity. He says the team is aiming to start producing dried yellowcake this quarter.

Peninsula fired up uranium production on resin at Lance late last year, making it the only ASX-listed uranium company with US production and direct exposure to the American market. Once running at full tilt, Lance will make Peninsula a homegrown supplier of yellowcake — a commodity in high demand as nuclear energy gains traction in clean power plans.

The Lance Project isn’t small potatoes. Spread across the Ross, Kendrick, and Barber areas, it’s one of the largest in-situ recovery uranium projects in the US, holding a JORC resource of 58 million pounds of U₃O₈. Ross already has a licensed ISR facility with 6.4 million pounds in resources. Kendrick — the next spot on the production map — boasts 19.8 million pounds, while Barber is still in exploration but has room to grow.

In fact, Kendrick got its own regulatory nod back in May, setting the stage for mining there. Now, with Phase 2 of the CPP approved, Peninsula is edging closer to its endgame: becoming a key uranium supplier in a market that’s only heating up.

The original story by Swagath Bandhakavi for NS Energy.