Peninsula Energy Limited · ASX:PEN
Peninsula Energy — Shareholder Meeting (November 2024)
27 slides from Peninsula Energy's shareholder meeting presentation, Nov 21, 2024
Slide 1: Advancing the World-Class Lance Uranium ISR Project Toward Production
A DVA N CIN G T HE W O R LD - CL A SS L A N CE UR A NIUM ISR PR O JECT TO WA R D PR O D U CTION N o v e m b e r 2 0 24 A G M ASX:PEN; OTCQB:PENMF 1
Slide 2: Important Disclosures and Disclaimers
Im p o r t a nt D i s cl o s ure s a n d D i s cl a im e r s Summary Cautionary & Inferred Resources Notice 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 Presentatio
Slide 3: Lance – A Premier ISR Uranium Project
La n c e – A P re mi e r ISR Ura ni u m P ro j e c t • 58.0Mlbs U3O8 of JORC (2012) Resources1 • One of the largest US uranium ISR projects • Ross Production Project Area • Fully licensed uranium ISR production project • Home of the project facilities and central process plant • Estimated remaining
Slide 4: Exploration Upside
Ex p l o ra t i o n Up s i d e Lance Projects • Exploration Target of 104 – 163 Mlbs eU3O8 - Based on a combination of past exploration results and proposed exploration programmes1 Dagger Project • 6.9 Mlbs U3O8 of JORC (2012) Inferred Resources 2 • >2X the U3O8 Grade as compared to the Lance Resour
Slide 5: Lance Project Upgrade Activities
La n c e P ro j e c t Up g ra d e A c t i v i t i e s Process Plant Phase II Upgrade 1. Transition to low-pH recovery - Complete • Low-pH uranium in-situ recovery is the most widely Previous U3O8 utilized method for uranium production Processing Toll “Dry Circuit Processing Yellowcake” • The Compa
Slide 6: December 2023 – One Year Ago
D e c e m b e r 2023 – O n e Ye a r A g o Monthly Progress • Close of A$50M Placement to fund Lance Phase II plant construction and wellfield development • Mine Unit 3 drilling program underway with 4 drill rigs at site MU-3 Development Drilling PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENT
Slide 7: January 2024
Ja n u a r y 2024 Monthly Progress • Completed oversubscribed A$10 Share Purchase Plan • Completed installation of bulk acid and peroxide storage facilities Acid Storage Tank Addition at Lance Satellite Plant PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 7
Slide 8: February 2024 Monthly Progress
Fe b r u a r y 2024 Monthly Progress • Announced signing of new sales contract for 1.2 million pounds over 6 years • Worth US$88m to $117m • Initiate pilot testing of elution and precipitation unit operations to optimize plant design Pilot Plant Testing of Low pH Unit Operations PENINSULA ENERGY ASX
Slide 9: March 2024
M a rc h 2024 Monthly Progress • Continued pilot testing to improve yellowcake quality • Started fabricating HH-11 building and components in Lance Project maintenance shop Fabricating Piping Segments in the Lance Construction Shop PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 9
Slide 10: April 2024
A p ril 2024 Monthly Progress • Appointed Samuel as Engineering, Procurement and Construction (EPC) contractor • Samuel mobilized to the site • Increase wellfield development drill rig count to 6 Ramping up MU-3 Wellfield Development PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 10
Slide 11: May 2024 Monthly Progress
M a y 2024 Monthly Progress • Earthworks commenced for Phase II plant • Long lead-time items identified and orders placed • Updated JORC Resources for Lance • 19.6 % increase within Ross and Kendrick areas • A$106 million fully underwritten placement Early Earthworks in advance of Construction PENIN
Slide 12: June 2024
Jun e 2024 Monthly Progress • Solids removal facility building constructed • Preparing subgrade engineered materials and foundation forms for CPP • Continued acceleration of HH-11 wellfield development Auxiliary Facility Construction PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 12
Slide 13: July 2024
July 2024 Monthly Progress • Mine Unit 1 preconditioning started • Phase-1 plant low-pH refurbishment ready • Revised year-1 ramp- up production profile based on updated MU-3 wellfield development planning Lance Central Processing Plant Site: Early July 2024 - Subgrade preparation PENINSULA ENERGY A
Slide 14: August 2024 Monthly Progress
A u g u s t 2024 Monthly Progress • Completed foundation concrete installation • Started plant slab concrete pours • Started equipment placement • Started building erection • Increased drilling rig count to 10 • 50 full time employees • 80-100 construction contract personnel Pouring plant concrete a
Slide 15: September 2024 Monthly Progress
S e p t e m b e r 2024 Monthly Progress • Completion of HH-11 well installation and surface facility construction • Ion Exchange, Elution and Precipitation equipment set in place • Interior structural steel and pipe support placement commenced Completion of MU-3, HH-11 PENINSULA ENERGY ASX:PEN; OTCQ
Slide 16: October 2024
O c t o b e r 2024 PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 16
Slide 17: October 2024 Monthly Progress
O c t o b e r 2024 Monthly Progress • Building red-iron and external finishing • Board of Directors site visit and strategic direction review Board and Management Team Site Visit PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 17
Slide 18: November 2024 Monthly Progress
N o v e m b e r 2024 Monthly Progress • Phase II plant fully enclosed prior to first snowfall • Construction focus shifts to interior • Commencement of MU- 3 HH-11 preconditioning • Commissioning of auxiliary facilities • Samuel contract capped at fixed price Lance Central Processing Plant: Early No
Slide 19: November 2024: Inside the CPP
N o v e m b e r 2024 : In s i d e t h e CPP PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 19
Slide 20: Wellfield Development Progress Update
We ll f i e l d D e v e l o p m e nt Progress Update • 12 drilling rigs working to develop new Mine Units 3 and 4 • Mine Unit 3 (MU-3) is the first wellfield at Lance specifically designed for the low-pH in-situ recovery method • MU-3 infrastructure and surface facility construction is advancing on
Slide 21: Estimated Lance Project Timeline
Es t i m a t e d La n c e P ro j e ct T i m e li n e May 2024 Q3 2024 End of 2024 Commencement Commence Plant of Plant Wellfield Commissioning/ Expansion Pre-conditioning Low pH-ISR Construction in MU-1 and MU-3 Production Start Jan-Dec 2024 Q3 2024 2H24 - Onward Drilling; MU-3 MU-3, Header Drilling
Slide 22: Updated Production Guidance
Up d a t e d P ro d u c t i o n Gui d a n c e Period AUG-2024 Estimate NOV-2024 Estimate Mid-Point Variance CY2025 0.7 to 0.9 Mlbs 0.6 Mlbs (0.2) Mlbs CY2026 1.4 to 1.6 Mlbs 1.1 to 1.3 Mlbs (0.3) Mlbs CY2027 1.4 to 1.6 Mlbs 1.5 to 1.7 Mlbs 0.1 Mlbs 3-Year Total 3.5 to 4.1 Mlbs 3.2 to 3.6 Mlbs (0.4)
Slide 23: Peninsula Energy
P e ni n s ul a En e rg y The next ASX-listed uranium company set to enter production Site preparations at Lance continue on-track for resumption of production in late 2024 Strong cash position to progress the project. EOM Oct-24 cash balance of USD 68m and no long-term debt Updated Production Guida
Slide 24: Contact Details
Co nt a ct 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 email: info@pel.net.au 24 Not for distribution or release in the United States
Slide 25: Offtake Contracts Sales Profile
O fft a k e Co nt ra ct s S a l e s P rof il e Contracted Sales Profile Offtake Contracts 1,200 • Peninsula has 6 existing offtake contracts covering ~40% of planned production over next ten years 1,000 • Committed to deliver 6.0 Mlbs from 2025 - 2033 • 2025 contracted sales at 467 klbs, well within
Slide 26: Appendix 1 – Resources
A p p e n di x 1 – R e s o urc e s Lance Projects Resource Estimate as at 31 December 20231 Classification Tonnes U3O8 Grade U3O8 (million) (Mkg) (ppm U3O8) (Mlbs) Measured 3.3 1.7 510 3.8 Indicated 11.0 5.6 510 12.4 Inferred 38.3 18.9 490 41.7 Total 52.6 26.3 500 58.0 Dagger Resource Estimate as at
Slide 27: 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. Cretaceous sandstones of Wyoming, which are believed to represent an Exploration Target of between 104 and 16
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