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Peninsula Energy has initiated acidification at Header House 16 in its Lance uranium project in Wyoming, enhancing production plans. This follows a transition from a low-performing alkaline process to a low-pH, high-acidity in-situ recovery method, validated through a field demonstration.

The Lance project hosts 58 million pounds of yellowcake, with the Dagger satellite project adding another 6.9 million pounds. Acid injected into the resource is expected to dissolve uranium, with flow rates from extraction bores exceeding expectations.

The acidification process is set to last three months, with production from Mine Unit 4 projected to account for 60% of total output in 2026 and 2027. Peninsula has secured nearly $70 million in capital and a $15 million debt facility, supporting its goal of producing 400,000 to 500,000 pounds of yellowcake by 2026. The US government’s renewed focus on nuclear energy further bolsters Peninsula's operational outlook.