Peninsula Energy Limited · ASX:PEN
Peninsula Energy — CG Global Metals & Mining Conference 2023
29 slides from Peninsula Energy's conference presentation, May 11, 2023
Slide 1: Advancing the Restart of Uranium Production at Lance
For personal use only A DVANCING THE R ESTA RT OF UR ANIUM PROD U CTION AT L ANCE M a y 2023 CG G l o b a l M e t a l s & Mi n i n g C o n fe r e n c e ASX:PEN; OTCQB:PENMF 1
Slide 2: Important Notice & Disclaimer
Im p o r t a nt N o t i c e & D i s cl a i m e r 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 complet
Slide 3: Disclaimer & Competent Person
D i s cl a i m e r & Co m p et e nt P e r s o n 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 com
Slide 4: Cautionary & Inferred Resources Notice
Ca u t i o n a r y & In fe r re d R e s o u rc e s N o t i c e 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
Slide 5: Progressing Towards Uranium Production
For personal use only PR O GR ES SIN G TO WA R D S UR A NIUM PR O D U CT I O N PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 5
Slide 6: The Next Major US Uranium Producer
T h e N e x t Ma j o r US Ura ni u m P ro d u c e r Flagship Improved Growing For personal use only Near-Term Well-Funded Proven Lance ISR Processing Lance in Size Production for Restart Team Project Method and Scale One of the Commercial Lance will be Upside Cash balance Highly largest US operation
Slide 7: Operational Restart on Track for Mid-Year 2023
O p e ra t i o n a l R e s t a r t o n Tra c k fo r Mi d - Ye a r 2023 • Substantial progress made in the pre-production activities For personal use only • Key works remain on schedule for completion and production to commence in mid-2023 • Project restart funded through current cash, uranium invent
Slide 8: Applying the Industry Leading Low-pH ISR Process
A p p ly i n g t h e In d u s t r y Le a di n g Lo w - p H ISR P ro c e s s For personal use only Low pH ISR is a proven • Over 60% of global uranium produced in 2021 was via low pH ISR and effective method of • Low pH ISR projects sit in the lowest quartile for production costs uranium production •
Slide 9: Sustainability Focus
S u s t a i n a b ili ty Fo c u s Peninsula’s inaugural Sustainability Report is built around the pillars of Employees, Environment, Social For personal use only and Governance (“EESG”) • 2022 Sustainability highlights: ✓ Business Ethics • No lost-time or recordable injuries for more than 5 years •
Slide 10: Corporate Overview
Co rp o ra t e O v e r v i e w 1,257m A$0.155 A$195m Nil US$26m 210 klbs For personal use only Cash U3O8 Inventory Shares on Issue Share Price Market Term Debt (31 Mar 2023) (31-March 2023) (31 March 2023) (08 May 2023) Capitalisation Management Team Board of Directors Share Price Performance Mr Way
Slide 11: The Lance Uranium In-Situ Recovery Project
For personal use only T HE L A N CE UR A NIUM IN - SIT U R EC OV ER Y PR OJECT PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 11
Slide 12: Lance – A Premier Uranium Project & Location
La n c e – A P re mi e r Ura ni u m P ro j e c t & Lo c a t i o n For personal use only Powder River Basin WYOMING, USA Lance Regional Setting Located in Wyoming USA, a leading US uranium extraction jurisdiction PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 12
Slide 13: The Lance Projects
T h e La n c e P ro j e c t s • Ross • Fully licensed Uranium ISR production facility For personal use only • Estimated Resource of 5.9 Mlbs U3O8 • 4.1 Mlbs estimated to be produced • 2 Previously operated Mine Units (MU-1 and MU-2), with potential for an additional 2-3 Mine Units • MU-3 monitor wel
Slide 14: The Lance Projects Resource Estimate
T h e La n c e P ro j e c t s R e s o u rc e Es t i m a t e “One of the largest US Uranium ISR Projects known” For personal use only Lance Projects Resource Estimate as at 31 Dec 20211 ✓ A modern, large-scale, long-life, constructed and fully-permitted project Classification Tonnes U3O8 Grade U3O8 (
Slide 15: August 2022 Ross and Kendrick DFS
A u g u s t 2022 R o s s a n d Ke n d r i c k D FS DFS Case: 2-Stage ramp-up to 2 Mlbs/annum For personal use only ROSS AND KENDRICK DFS RESULTS ✓ Only the best quality resources included Estimated Life of Mine (LoM) 14 years LoM Project Revenue (real) (US$ M) 895.2 ✓ Ross and Kendrick, but not Barb
Slide 16: Construction Milestones
Co n s t r u c t i o n Mil e s t o n e s For personal use only • Key equipment delivered to site - contractors installing • Concrete works completed • First of two large volume acid storage tanks in place, currently being connected to plant distribution systems New installation of a high-volume acid
Slide 17: Operational Milestones
O p e ra t i o n a l Mil e s t o n e s For personal use only • MU-1 fully prepared for operations • Well patterns being pre-acidified and readied for production • Operation flowrate of 500 GPM established and will continue to be increased • Wellfield transformation activities advanced to MU-2 Mine U
Slide 18: Foundations Being Set for Future Production
Fo u n d a t i o n s B e i n g S et fo r Fu t u re P ro d u c t i o n Three contract drilling rigs actively preparing MU-3 For personal use only Large batch of new resin received and available for plant recommissioning Process plant to be activated for commercial production activities mid-year 2023
Slide 19: Systematic Progress Leading to Production Restart
Sy s t e m a t i c P ro g re s s Le a di n g To P ro d u c t i o n R e s t a r t For personal use only MID-YEAR • RESTART PRODUCING 2023 FROM PREVIOUSLY ✓ COMPLETE ✓ COMPLETE ✓ COMPLETE MINED UNITS 1 & 2 • DEVELOPMENT OF NEW TECHNICAL PROJECT INVESTMENT PRODUCTION OPTIMISATION ECONOMICS DECISION ONG
Slide 20: Uranium Sales and Inventory
For personal use only UR A NIUM S A LES A ND IN V EN TO R Y PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 20
Slide 21: Peninsula's Key Differentiator
P e ni n s ul a ’ s Key D i ffe re nt i a t o r “An established uranium sales contract book” For personal use only • A junior uranium company with a track record of meeting delivery requirements since 2016 • Sales contracts in place for up to 5.25 million lbs U3O8 extending through 2033 • With major
Slide 22: Physical Uranium Inventory
P h y s i c a l Ura ni u m In v e nt o r y For personal use only ➢ Current Inventory of 210,000 lbs. of uranium concentrate • Balance of 210,000 lbs. uncommitted strategic inventory to carry forward beyond Q1 ‘23 • Enhances flexibility in meeting customer requirements • Opens the door for opportunis
Slide 23: A Compelling Uranium Proposition
For personal use only A C O MPELLIN G UR A NIUM PR O P OSITIO N PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 23
Slide 24: Nuclear, US Uranium and Global Decarbonization
Nu cl e a r , US Ura ni u m a n d Gl o b a l D e c a r b o ni z a t i o n • Nuclear power gaining momentum as a critical part of the green energy mix For personal use only • Growing global recognition of the important role nuclear power will play in meeting decarbonization targets • Nuclear energy p
Slide 25: The Peninsula Advantage
T h e P e ni n s ul a A d va nt a g e For personal use only ✓ Flagship Lance Project Located in a tier-one mining and uranium jurisdiction ✓ Production restart scheduled for mid-year 2023 ✓ Lance is a long-life operation, with excellent exploration and development growth upside ✓ Led by a well crede
Slide 26: Contact Details
Co nt a c t D et a il s REGISTERED OFFICE For personal use only Units 32/33, Level 3 22 Railway Road Subiaco, Western Australia 6008 Australia Phone: +61 8 9380 9920 www.pel.net.au FURTHER INFORMATION Wayne Heili Managing Director/CEO US Office Phone: +1 (307) 467-9401 email: info@pel.net.au 26
Slide 27: Appendix – Resources
A p p e n di x 1 – R e s o u rc e s For personal use only 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
Slide 28: Appendix - Lance Exploration Target
A p p e n di x 2 - La n c e Ex p l o ra t i o n Ta rg et A d di t i o n a l D i s cl o s u re Exploration Target1 The Lance Projects cover a significant proportion of the Powder River Basin Basin Cretaceous sandstones of Wyoming, which are believed to For personal use only represent an Exploration T
Slide 29: Appendix - Lance Exploration Target
A p p e n di x 2 - La n c e Ex p l o ra t i o n Ta rg et A d di t i o n a l D i s cl o s u re For personal use only 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
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