Peninsula Energy

Canaccord Genuity Acted as Joint Lead Manager & Joint Underwriter to Peninsula Energy Limited on its A$105M Equity Raising

Canaccord Genuity has successfully raised A$105m for Peninsula Energy Limited (ASX:PEN) to fully fund the development of their Lance Project to projected positive free cash flow.

Peninsula is the 100% owner of the Lance Project in Wyoming, one of the largest uranium projects in the United States with a JORC (2012) Resource of 58.0Mlbs U3O8. The project is transitioning to a low-cost and environmentally friendly low pH ISR operation and will establish Peninsula as a fully independent end-to-end producer of dry yellowcake for the growing uranium market. Funds raised will allow the company to complete construction and commissioning with cash flow break even expected May 2025.

CG were appointed Joint Lead Manager and Joint Underwriter to the Equity Raising, which comprised an institutional placement and accelerated non-renounceable entitlement offer.

As a low-carbon, reliable source of baseload energy, nuclear power is increasingly being viewed as critical to global decarbonisation and energy security. CG are proud to be supporting another important company leading the charge towards a green energy future.