Peninsula Energy Limited · ASX:PEN
Peninsula Energy — Shareholder Meeting (November 2023)
23 slides from Peninsula Energy's shareholder meeting presentation, Nov 28, 2023
Slide 1: Poised to Become Largest U.S. Uranium Producer
P OISED TO B EC O ME L A R GEST U . S . UR A NIUM PR O D U CER 2023 AGM PR ESEN TATIO N N o v e m b e r 2 0 23 ASX:PEN; OTCQB:PENMF 1
Slide 2: Important Disclosures
Im p o r t a nt D i s cl o s u re s 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 Prese
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 August 2023 Life of Mine plan (LoM) completed for the Ross and Kendrick Production Areas within the Lance Projects includes Measured and Indicated resources, and based on historical experience at Lance, utilizes a resource conversion
Slide 5: Company Highlights
Co m p a n y Hi g hli g h t s • Flagship Lance ISR Project located in a tier-one mining and uranium jurisdiction World Class • Lance is a long-life operation, with excellent resource and life-of-mine growth upside Asset • Peninsula will be the largest US-based and fully independent, end-to-end produ
Slide 6: The Lance Projects
T h e La n c e P ro j e c t s • Ross Production Project Area • Fully licensed Uranium ISR production facility • 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 under dev
Slide 7: Lance Projects Facility Development
La n c e P ro j e c t s Fa cili ty D e v e l o p m e nt • Lance plant and wellfield facilities at Ross were constructed in 2015 & operated as alkaline ISR from 2016 through mid-2019 • Recently completed site transition for the low-pH ISR • Current low-pH ISR capacity of 0.82 Mlbs U3O8 per year loade
Slide 8: Potential to Become Largest U.S. Producer
P o t e nt i a l t o B e c o m e La rg e s t U . S . P ro d u c e r • 2.0 Mlb p.a. production plant provides platform for a ramp-up to substantial rates • Lance production restart in late 2024 • 2025 production level projected at ~1.1 Mlbs • Steady state production rate of 1.8 Mlbs per annum • Licen
Slide 9: Strong Leverage to Uranium Price
St ro n g Le v e ra g e t o Ura ni u m P r i c e Peninsula’s Sales Contract Book • Contract portfolio balances base-escalated and market pricing mechanisms providing both downside protection and Spot Uranium v. Realised Price1 upside linkage to uranium spot price 110 • Contracted sales represent 1/3
Slide 10: Uranium Price Continues to Strengthen
Ura ni u m P r i c e Co nt i n u e s t o St re n g t h e n Uranium Price • Supply/demand imbalance remains 90 • Robust growth forecasts for 80 Spot Price – uranium demand due to the critical US$81.00 /lb 70 requirement of nuclear energy in meeting global decarbonization 60 targets 50 US$/lb • The re
Slide 11: Lance Exploration Upside
Past Exploration La n c e Ex p l o ra t i o n Up s i d e • Exploration Target of 104 – 163 Mlbs eU3O8 Ross Area • Based on a combination of past exploration results and proposed exploration programmes1 • Between 1971-1980, 4,700 drill holes completed by Peninsula’s Exploration Success Nuclear Dynami
Slide 12: Dagger Project Introduced in 2023
D a g g e r P ro j e c t Int ro d u c e d i n 2023 New High Grade Satellite Deposit ✓ 6.9Mlbs U3O8 of JORC (2012) Inferred Resources1 ✓ >2x Grade of U3O8, compared to Lance Resource ✓ Mineral rights and data set established through in-house efforts for only US$800K (or US$0.12/lb U3O8) ✓ Opportunity
Slide 13: Equity Raising Overview
EQ UIT Y R A ISIN G OV ER V IEW • A$60.0 (US$39.01) million equity raise comprising: • A$50.0 million Institutional Placement (“Placement”) to issue 666.7 million new fully paid ordinary shares in the Company at A$0.075 per share (“New Shares”); and Offer Structure and Size • A$10.0 million Share Pu
Slide 14: Indicative Timetable
In di c a t i v e T i m et a b l e Process Date Trading halt and Placement Offer opens Before open on Thursday, 16 November 2023 Trading halt lifted and announcement of results of Placement Before open on Monday, 20 November 2023 Extraordinary General Meeting (EGM) to approve issue of Placement Shar
Slide 15: Sources & Uses of Funds
S o u r c e s & U s e s o f Fu n d s - A $ 6 0 m Eq u i t y R a i s e ( US $ 39 m ) Indicative sources and uses of funds until Peninsula is forecast to achieve first production outlined below Uses of Funds Total US$m1 ▪ A$60m (US$39m) enables Peninsula to complete plant Pre-Production CAPEX 36.5 con
Slide 16: Corporate Overview
Co rp o ra t e O v e r v i e w 1,257m A$0.105 A$132m Nil US$12.5m 210 klbs Shares on Issue Share Price Market Term Debt Cash U3O8 Inventory (27 Nov 2023) (As of 27 Nov 2023) Capitalisation (30 Sept 2023) (30 Sept 2023) Board of Directors Share Price Performance Mr John Harrison Non-Executive Chairma
Slide 17: Experienced Management Team
Ex p e r i e n c e d Ma n a g e m e nt Te a m Experienced in design, construction and operation of Uranium ISR facilities in Wyoming, USA Wayne Heili Rachel Rees Managing Director Executive Director – Finance and Corporate Affairs Mr Heili has spent the bulk of his 35+-year professional career in th
Slide 18: Sustainability Focus
S u s t a i n a b ili ty Fo c u s Peninsula’s Annual Sustainability Report is built around the pillars of Employees, Environment, Social and Governance (“EESG”) ✓ Business Ethics • 2023 Report Sustainability highlights: • Recipient of Wyoming Governors Safety Award (2 consecutive ✓ Community years),
Slide 19: Independent, Long-Term Uranium Production
In d e p e n d e nt , Lo n g - Te r m Ura ni u m P ro d u c t i o n Flagship Lance Growing Lance A Robust ISR Project in Size and Scale Production Plan One of the largest US Resource growth potential Detailed and resilient Life of uranium projects, with a through further exploration Mine (LoM) plan
Slide 20: Contact Details
Co nt a c t D et a il s REGISTERED OFFICE 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 20
Slide 21: Appendix 1 – Resources
A p p e n di x 1 – R e s o u rc e s Lance Projects Resource Estimate as at 31 December 20221 Classification Tonnes U3O8 Grade U3O8 (million) (Mkg) (ppm U3O8) (Mlbs) Measured 3.5 1.7 489 3.8 Indicated 11.3 5.5 492 12.2 Inferred 36.2 17.2 474 37.8 Total 51.0 24.4 479 53.8 Dagger Resource Estimate as a
Slide 22: Appendix 2 - Lance Exploration Target Additional Disclosure
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 mobs Cretaceous sandstones of Wyoming, which are believed to represent an Exploration Target of between 104 an
Slide 23: Appendix 2 - Lance Exploration Target Additional Disclosure
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 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
Peninsula Energy — Shareholder Meeting (November 2023) on 6ix