Peninsula Energy
Peninsula Energy is an ASX-listed (PEN) independent uranium producer operating the 100%-owned Lance Project in Wyoming, USA, using low pH in-situ recovery to produce yellowcake (U3O8) for sale to US nuclear power utilities, with production ramping from 2024.
- Company typePublic
- Founded1993
- HeadquartersPerth, Australia
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Peninsula Energy does
Peninsula Energy Limited is an ASX-listed (ticker PEN) uranium mining company headquartered in Subiaco, Western Australia, with operational assets in Wyoming, USA. Its sole operating asset is the 100%-owned Lance Project, one of the largest uranium projects in the United States with a JORC (2012) Resource of 58.0 Mlbs U3O8. The company transitioned Lance to a low pH in-situ recovery (ISR) operation, re-commencing yellowcake (U3O8) production in December 2024 and positioning itself as North America's newest fully independent end-to-end producer. Production is targeted to ramp from approximately 50,000 lbs in 2025 to 1.5 million lbs annually by 2028, with Mine Unit 4 expected to deliver roughly 60% of output in 2026–2027 and Mine Units 5 and 6 in development.
The company generates revenue through direct B2B sales of finished yellowcake to nuclear power utilities and energy buyers, with no consumer channels, and maintains unhedged exposure to spot uranium pricing. The business is pre-revenue at scale and pre-margin: cash operating costs are guided at US$30–35M annually and 2025 production volumes are nominal, so the near-term P&L is loss-making while the company invests in wellfield buildout. Peninsula has funded the Lance ramp through multiple institutional capital raises, including an A$106M equity raise in May 2024, an approximately A$70M equity raise in October 2025 led by Tees River with Davidson Kempner, a US$15M debt facility in December 2025, and a US$56M package in May 2026 anchored by a US$30M convertible note from Washington H Soul Pattinson. Governance and operational leadership include a new CEO appointed in January 2025; the company employs 51–100 people and operates with no parent company, no disclosed patents or trademarks, and a withdrawn non-core South African subsidiary (Karoo Projects).
Peninsula Energy firmographics
Firmographics- Name
- Peninsula Energy
- Legal name
- Peninsula Energy Limited
- Website
- https://pel.net.au
- Company type
- Public
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Peninsula Energy is an ASX-listed (PEN) independent uranium producer operating the 100%-owned Lance Project in Wyoming, USA, using low pH in-situ recovery to produce yellowcake (U3O8) for sale to US nuclear power utilities, with production ramping from 2024.
- Ownership category
- akta.pro rank
Peninsula Energy industry classification
Industry- Product category
- Uranium Mining
- SIC
- Metal Mining (1000)
- akta.pro primary industry
- Uranium Exploration & Resource Development (EUAKACAA)
Keywords
Where Peninsula Energy is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Peninsula Energy business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales, Others
Revenue model
- Uranium (U3O8) Sales: Sale of finished yellowcake product produced from the Lance Project uranium extraction operations. Revenue is generated through spot market sales of uranium oxide to nuclear power utilities and energy buyers.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Peninsula Energy product offering
Product offeringCore offering
Peninsula Energy extracts and produces yellowcake (U3O8) uranium from its flagship 100%-owned Lance Project in Wyoming, USA, using low pH in-situ recovery (ISR) mining technology. The company sells this finished uranium commodity directly to nuclear power utilities to support their fuel supply needs. Production re-commenced in December 2024 and is ramping up toward 1.5 million pounds annually by 2028.
Product overview
Peninsula Energy is North America's newest fully independent end-to-end uranium producer, offering a single unified product centered on its 100% owned Lance Project in Wyoming. The company operates using low pH in-situ recovery (ISR) technology to produce yellowcake (U3O8), a finished uranium product for the nuclear energy market. The portfolio consists of the Lance Project as the core production asset, supplemented by the Dagger Project for potential future growth, while the Karoo Projects in South Africa have been divested. Production recommenced in December 2024 following transition to the environmentally friendly low pH ISR operation, with plans to ramp up output toward 1.5 million pounds annually by 2028.
Differentiator
Problem solved
Functional benefit
Products and services
- Lance Project (Yellowcake / U3O8 production) The flagship 100%-owned uranium project located in Wyoming, USA, with a JORC (2012) Resource of 58.0Mlbs U3O8. The project uses in-situ recovery (ISR) technology to extract uranium and produces finished yellowcake (U3O8) for sale to nuclear power utilities.
- Yellowcake (U3O8) Finished uranium product (triuranium octoxide / U3O8) produced through the low pH in-situ recovery process at the Lance Project. Sold as a commodity to nuclear power utilities and energy buyers.
- Dagger Project A uranium exploration and development project providing potential future growth upside for Peninsula Energy, supplementing the flagship Lance Project in Wyoming.
Quantifiable outcome
- Production ramp-up from 50,000 pounds in 2025 to 1.5 million pounds by 2028
- +2 more outcomes
Companies that use Peninsula Energy
Customer profileSegments2 records
Ideal customer profiles2 records
Peninsula Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Peninsula Energy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- MUFG Market ServicessupportShare registry services provider handling shareholder queries and option conversions.
Scale indicators9 records
Recent moves6 records
Expansion highlights4 records
Peninsula Energy competitors and assessment
Company assessmentDirect peers
- Uranium Energy Corp: Uranium Energy Corp is a US-focused uranium producer using ISR technology at operations in Wyoming and Texas. It is the most direct comparable to Peninsula given shared ISR methodology, US Tier 1 jurisdiction focus, and yellowcake production.
- Energy Fuels: Energy Fuels is a US-based uranium and rare earth element producer with conventional and ISR operations. It shares the US uranium production focus and serves the same nuclear utility customer base as Peninsula Energy.
- Boss Energy: Boss Energy is an ASX-listed uranium producer operating the Honeymoon ISR mine in South Australia. It is highly comparable as an ASX-listed ISR uranium producer ramping production, with similar regulatory and operational dynamics to Peninsula.
Broad incumbents
- Cameco Corporation: Cameco is the world's largest publicly traded uranium producer, operating the McArthur River and Cigar Lake mines. While operating at much larger scale and using conventional mining, it sets the price benchmark relevant to Peninsula's yellowcake sales.
- Paladin Energy: Paladin Energy is an ASX-listed uranium producer with the Langer Heinrich mine in Namibia. Comparable as an ASX-listed uranium producer though operating at larger scale with conventional heap leach methods.
Emerging players
- Denison Mines: Denison Mines is a Canadian uranium developer focused on the Wheeler River project in the Athabasca Basin. Comparable as an emerging uranium developer targeting future production, though focused on high-grade Athabasca conventional deposits.
- NexGen Energy: NexGen Energy is developing the Rook I/Arrow uranium project in the Athabasca Basin. Comparable as an emerging uranium developer, though focused on the highest-grade uranium deposits globally rather than ISR.
Others
- Yellow Cake plc: Yellow Cake plc is a London-listed company that holds physical uranium as a commodity investment vehicle. It is comparable as a uranium market participant, though operating a holding model rather than production.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Peninsula Energy social profiles
Digital presencePeninsula Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Peninsula Energy leadership team
Management profileNumber of profiles
Profiles1 record
Peninsula Energy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Peninsula Energy funding detail
Funding detailFunding overview
Funding rounds8 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Peninsula Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Peninsula Energy
What does Peninsula Energy do?
Peninsula Energy extracts and produces yellowcake (U3O8) uranium from its flagship 100%-owned Lance Project in Wyoming, USA, using low pH in-situ recovery (ISR) mining technology. The company sells this finished uranium commodity directly to nuclear power utilities to support their fuel supply needs. Production re-commenced in December 2024 and is ramping up toward 1.5 million pounds annually by 2028.
Is Peninsula Energy a public or private company?
Peninsula Energy is a public company. It is classified as public and is currently operating.
When was Peninsula Energy founded?
Peninsula Energy was founded in 1993. It employs 51 to 100 people.
Where is Peninsula Energy based?
Peninsula Energy is headquartered in Perth, Australia, in the Oceania region.
How does Peninsula Energy make money?
One revenue line is on record: uranium (U3O8) Sales.
Who are Peninsula Energy's main competitors?
Direct peers on record are Uranium Energy Corp, Energy Fuels and Boss Energy. Broad incumbents are Cameco Corporation and Paladin Energy. Emerging players are Denison Mines and NexGen Energy. Yellow Cake plc is listed as an others.
Does Peninsula Energy have an API?
No public API is recorded for Peninsula Energy.
What industry is Peninsula Energy in?
Peninsula Energy's product category is Uranium Mining. Its primary akta.pro industry code is EUAKACAA, Uranium Exploration & Resource Development. Its SIC code is 1000.