Peninsula Energy Limited · ASX:PEN
Peninsula Energy — Shareholder Meeting (November 2022)
40 slides from Peninsula Energy's shareholder meeting presentation, November 2022
Slide 1: Advancing the Restart of Uranium Production at Lance
A D VA N C I N G T H E R E S TA R T O F U R A N I U M P R O D U C T I O N AT L A N C E November 2022 AGM Presentation ASX:PEN; OTCQB:PENMF 1 Not for distribution or release in the United States
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer This Presentation contains summary information about the current activities of Peninsula Energy Limited (the “Company”) as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete. This Presentatio
Slide 3: Disclaimer & Competent Person
Disclaimer & Competent Person The distribution of this Presentation in jurisdictions outside Australia may be restricted by law and any such restrictions should be observed. In particular, this Presentation may not be distributed or released in the United States. Any failure to comply with such rest
Slide 4: Cautionary & Inferred Resources Notice
Cautionary & Inferred Resources Notice The Definitive Feasibility Study completed for the Lance Projects includes measured and indicated resources and an assumed resource conversion of 61% (inferred to indicated or greater). The purpose of the Definitive Feasibility Study is to demonstrate the econo
Slide 5: Positive Decision to Restart Lance
P O S I T I V E D E C I S I O N T O R E S TA R T L A N C E PENINSULA ENERGY ASX:PEN; OTCQB:PENMF AGM PRESENTATION Not for distribution or release in the United States 5
Slide 6: Lance Production to Restart in Q1 2023
L A N C E P R O D U C T I O N T O R E S TA R T I N Q 1 C Y 2 0 2 3 November 2022 FID to Restart a Modern, Long-Life Uranium ISR Asset • One of the largest uranium development projects in the United States with 53.7 Mlbs U3O8 of JORC (2012) Resources1 • Current plant capacity of 0.82Mlbs U3O8 per ann
Slide 7: Equity Raising Overview
EQUITY RAISING OVERVIEW Underwritten A$32m Placement and Non-Underwritten A$3m Share Purchase Plan • A$32. million equity raise of new fully paid ordinary shares in the Company, from an underwritten Placement to sophisticated and professional investors • A non-underwritten Share Purchase Plan for el
Slide 8: Indicative Timetable & Pro-Forma Capital Structure
I n d i c a t i v e Ti m e t a b l e & P r o - F o r m a C a p i t a l S t r u c t u r e Indicative Timetable1 Pro-Forma Capital Structure Event Day Ordinary Shares (m)2 Cash (US$m) Record Date for eligibility to participate in SPP 23 November, 2022 Existing Issued Capital 999 $8.23 Announcement of
Slide 9: An Emerging Uranium Producer
AN EMERGING URANIUM PRODUCER PENINSULA ENERGY ASX:PEN; OTCQB:PENMF AGM PRESENTATION Not for distribution or release in the United States 9
Slide 10: An Emerging US Uranium Producer
An Emerging US Uranium Producer Flagship Growing DFS Near Term Proven Lance ISR FID Uranium Completed Production Team Project Demand One of the Study A positive Well-placed Projected Highly largest US highlighted investment to supply a start of experienced uranium potential for decision to growing p
Slide 11: Corporate Overview
Corporate Overview 999m A$0.155 A$160m Nil US$8.2m US$15.5m U3O8 Inventory Shares on Issue Share Price Market Term Debt Cash (as of 16 Nov 22) (23 November 2022) (23 November 2022) Capitalisation (as of 31 Oct 2022) (@ US$50.00/lb) Board of Directors Share Price Performance Management Team USD 0.28
Slide 12: Uranium, Nuclear and a Clean Energy Future
Uranium, Nuclear and a Clean Energy Future • Nuclear power gaining momentum and support globally as a critical part of the green energy mix • Global recognition of the important role nuclear power will play in meeting aggressive de-carbonisation targets • Nuclear energy provides high capacity-factor
Slide 13: Uranium & Nuclear Energy in the United States
Uranium & Nuclear Energy in the United States “A clear demand signal for domestic production, “Nuclear power provides 52% of conversion and enrichment” America’s clean energy. Because nuclear power plants BIDEN Administration plan to transition away from operate at full capacity more Russian nuclear
Slide 14: ESG Is In Our DNA
ESG Is In Our DNA ESG principles have always been core values for Peninsula. The Company is committed to being a responsible member of our local and global communities. We foster a safe, healthy and diverse workplace culture with a strong emphasis on environmental stewardship ✓ Business Ethics ✓ Com
Slide 15: The Lance Uranium In-Situ Recovery Project
THE LANCE URANIUM IN-SITU RECOVERY PROJECT PENINSULA ENERGY ASX:PEN; OTCQB:PENMF AGM PRESENTATION Not for distribution or release in the United States 15
Slide 16: Lance – A Premier Uranium Production Project
Lance – A Premier Uranium Production Project Powder River Basin WYOMING, USA Lance Regional Setting Located in Wyoming USA, a leading US uranium extraction jurisdiction PENINSULA ENERGY ASX:PEN; OTCQB:PENMF AGM PRESENTATION Not for distribution or release in the United States 16
Slide 17: Peninsula's Lance Projects
Peninsula’s Lance Projects “One of the Largest US Uranium Projects Known” ✓ A modern, large-scale, long-life, constructed and fully-permitted project Lance Projects Resource Estimate as at 31 Dec 20211 ✓ 53.7 Mlbs U3O8 of JORC (2012) Resources1 Classification Tonnes U3O8 Grade U3O8 (million) (Mkg) (
Slide 18: The District Scale Lance Projects
The District Scale Lance Projects • Ross • Fully licensed Uranium ISR production facility • 2 developed Mine Units • 2-3 additional Mine Units planned • Kendrick • The next sequential production area • Amendments being prepared to add Kendrick to the production licenses and permits • Barber • “Under
Slide 19: Applying the Industry Leading Low-pH ISR Process
Applying the Industry Leading Low-pH ISR Process Low pH ISR is a proven, • Over 60% of global uranium produced in 2021 was via low pH ISR effective method of • The lowest quartile uranium mines for production costs uranium production Regulatorily De-risked • Lance is the only US-based uranium projec
Slide 20: Key DFS Results
Key DFS Results “Strong results supported by a quality resource and detailed technical evaluations” KEY DFS RESULTS DFS Case: 2-Stage Ramp-up to 2 Mlbs/yr. Estimated Life of Mine (LoM) 14 years ✓ Includes Ross and Kendrick but not Barber LoM Project Revenue (real) (US$ M) 895.2 ✓ 14-year Life-of-Min
Slide 21: Strong DFS Economic Outcomes
Strong DFS Economic Outcomes “Highlights Lance as a globally competitive uranium production center” • Focused on low-risk and well-defined Ross and Kendrick Area Resources • Conclusions: • Very low capital intensity • Low pH Transition and Stage 1 Capital total US$24.7 million • Stage 2 Plant and We
Slide 22: Systematic Progress Leading To Restart FID
S y s t e m a t i c P r o g r e s s L e a d i n g To R e s t a r t F I D Next 3 to 6 • INSTALL TRANSITION MONTHS FACILITIES ✓ COMPLETE ✓ COMPLETE ✓ COMPLETE • START PRODUCING FROM OLDER FIELD AREAS • DEVELOPMENT OF NEW AREAS TECHNICAL PROJECT EVALUATE FOR OPTIMISATION ECONOMICS FUNDING Next 12 MONTH
Slide 23: Advancing Lance Towards Restart
A d v a n c i n g L a n c e To w a r d s R e s t a r t Peninsula progressed key activities throughout 2022 1. Definitive Feasibility Study completed in August 2022 2. Preparatory Work programme to facilitate an accelerated production restart ongoing since early 2022 • Preparation and operational rea
Slide 24: Uranium Sales and Inventory
URANIUM SALES AND INVENTORY PENINSULA ENERGY ASX:PEN; OTCQB:PENMF AGM PRESENTATION Not for distribution or release in the United States 24
Slide 25: Peninsula's Key Differentiator
Peninsula’s Key Differentiator “An established uranium sales contract book” • A junior uranium company with a track record of meeting delivery requirements since 2016 • Sales contracts in place for up to 4.6 Mlbs extending through 2030 • With major utilities in both the United States and Europe • 4.
Slide 26: Physical Uranium Inventory
Physical Uranium Inventory • Uncommitted inventory of 310,000 pounds of uranium concentrate • Enhances flexibility in meeting customer requirements • Opens the door for on-market transactions like sales to US Government • Working capital option • 300,000 pounds of uranium concentrate acquired for US
Slide 27: A Compelling Uranium Proposition
A COMPELLING URANIUM PROPOSITION PENINSULA ENERGY ASX:PEN; OTCQB:PENMF AGM PRESENTATION Not for distribution or release in the United States 27
Slide 28: Well-Positioned to Fast-Track Into Production
We l l - P o s i t i o n e d t o F a s t - Tr a c k I n t o P r o d u c t i o n ✓ Peninsula has completed an FID to restart Lance production operations in Q1 of CY2023 ✓ Funding in place takes the Company’s activities through to 2024 ✓ Peninsula is led by a well credentialled and respected technical
Slide 29: The Peninsula Advantage
The Peninsula Advantage Idled US uranium projects that are sufficiently advanced may have a unique opportunity to capture emerging US demand in a Western-focused nuclear fuel market Most uranium developers face significant staffing, technical, regulatory, operational and market-related obstacles and
Slide 30: Contact Details
Contact Details REGISTERED OFFICE Units 32/33, Level 3 22 Railway Road Subiaco, Western Australia 6008 Australia Phone: +61 8 9380 9920 www.pel.net.au info@pel.net.au FURTHER INFORMATION Wayne Heili Managing Director/CEO +1 (307) 467-9401 Not for distribution or release in the United States 30
Slide 31: Appendix – Resources
Appendix 1 – Resources Lance Projects Resource Estimate as at 31 December 20211 Classification Tonnes U3O8 Grade U3O8 (million) (Mkg) (ppm U3O8) (Mlbs) Measured 3.4 1.7 491 3.7 Indicated 11.1 5.5 496 12.1 Inferred 36.2 17.2 474 37.8 Total 50.7 24.3 480 53.7 1) JORC Table 1 included in an announcemen
Slide 32: Appendix – Risk Factors
Appendix 2 – Risk Factors Uranium Mining Risks The Company's uranium project is located in the State of Wyoming, USA. Whilst exploration and mining for uranium is currently permitted in Wyoming there is no guarantee that it will be permitted in the future. Low pH Uranium Recovery The Company is tran
Slide 33: Appendix – Risk Factors
Appendix 2 – Risk Factors Resource Estimates Resource estimates are expressions of judgement based on knowledge, experience and industry practice. As further information becomes available through additional fieldwork and analysis, the estimates are likely to change. Foreign Exchange Risks The Compan
Slide 34: Appendix – Risk Factors
Appendix 2 – Risk Factors Third Party Risk If the Company fails to meet its obligations in terms of product quantity, quality or timing, there may be a risk that contracts are terminated. This may have a material adverse effect upon the Company's financial performance and results of operations. Risk
Slide 35: Appendix – Risk Factors
Appendix 2 – Risk Factors Coronavirus (COVID-19) Risk The global economic outlook is facing uncertainty due to the COVID-19 pandemic, which has had and may continue to have a significant impact on capital markets and share prices. The Company’s share price may be adversely affected by the economic u
Slide 36: Appendix – International Offer Restrictions
Appendix 3 – International Offer Restrictions This Presentation does not constitute an offer of new fully paid ordinary shares (“New Shares”) in the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may no
Slide 37: Appendix – International Offer Restrictions
Appendix 3 – International Offer Restrictions Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission
Slide 38: Appendix – International Offer Restrictions
Appendix 3 – International Offer Restrictions United Kingdom Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and M
Slide 39: Appendix – Lance Exploration Target
A p p e n d i x 4 - L a n c e E x p l o r a t i o n Ta r g e t Additional Disclosure Exploration Target1 The Lance Projects cover a significant proportion of the Powder River Basin Basin Cretaceous sandstones of Wyoming, which are believed to represent an Exploration Target of between 104 and 163mlb
Slide 40: Appendix – Lance Exploration Target
A p p e n d i x 4 - L a n c e E x p l o r a t i o n Ta r g e t Additional Disclosure Basis of Grade and Tonnage Range Determination The level of exploration activity on which the Exploration Target is based is considered to be high due to the combination of a database of approximately 7,500 drillhol
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