Peninsula Energy Limited · ASX:PEN
Peninsula Energy — Investor Presentation (November 2022)
40 slides from Peninsula Energy's investor presentation, Nov 24, 2022
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 N o v e m b e r 2022 Eq u i t y R a i s e P r e s e n t a t i o n ASX:PEN; OTCQB:PENMF 1 Not for distribution or release in the United States
Slide 2: Important Notice & Disclaimer
Im p o r t a nt N ot i c e & D i s cl a i m e r For personal use only 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
Slide 3: Disclaimer & Competent Person
D i s cl a i m e r & Co m p et e nt Pe r s o n For personal use only 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 State
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 ot i c e For personal use only 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
Slide 5: Positive Decision to Restart Lance
For personal use only P OSITI V E D ECISIO N TO R ESTA RT L A N CE PENINSULA ENERGY ASX:PEN; OTCQB:PENMF EQUITY RAISE PRESENTATION Not for distribution or release in the United States 5
Slide 6: Lance Production to Restart in Q1 CY2023
L A N CE PR O D U CTIO N TO R ESTA RT IN Q1 CY2023 November 2022 FID to Restart a Modern, Long-Life Uranium ISR Asset For personal use only • 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 p
Slide 7: Equity Raising Overview
EQ UIT Y R A ISIN G OV ER V IE W Underwritten A$32m Placement and Non-Underwritten A$3m Share Purchase Plan For personal use only • A$32. million equity raise of new fully paid ordinary shares in the Company, from an underwritten Placement to sophisticated and professional investors • A non-underwri
Slide 8: Indicative Timetable & Pro-Forma Capital Structure
In di c a t i v e T i m et a b l e & Pro - Fo r m a Ca p i t a l St r u c t u re For personal use only Indicative Timetable1 Pro-Forma Capital Structure Event Day Ordinary Shares (m)2 Cash (US$m) Record Date for eligibility to participate in SPP 23 November, 2022 Existing Issued Capital 999 $8.23 An
Slide 9: An Emerging Uranium Producer
For personal use only A N EMER GIN G UR A NIUM PR O D U CER PENINSULA ENERGY ASX:PEN; OTCQB:PENMF EQUITY RAISE PRESENTATION Not for distribution or release in the United States 9
Slide 10: An Emerging US Uranium Producer
A n Em e rgi n g US Ura ni u m Pro d u c e r For personal use only 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
Slide 11: Corporate Overview
Co rp o ra t e O v e r v i e w For personal use only 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 Per
Slide 12: Uranium, Nuclear and a Clean Energy Future
Ura ni u m , Nu cl e a r a n d a Cl e a n En e rg y Fu t u re For personal use only • 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 • Nuc
Slide 13: Uranium & Nuclear Energy in the United States
Ura ni u m & Nu cl e a r En e rg y i n t h e Uni t e d St a t e s For personal use only “A clear demand signal for domestic production, “Nuclear power provides 52% of conversion and enrichment” America’s clean energy. Because nuclear power plants operate at full capacity more BIDEN Administration pl
Slide 14: ESG Is In Our DNA
ES G Is In O u r D N A ESG principles have always been core values for Peninsula. The Company is For personal use only 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 stewards
Slide 15: 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 EQUITY RAISE PRESENTATION Not for distribution or release in the United States 15
Slide 16: Lance – A Premier Uranium Production Project
La n c e – A Pre mi e r Ura ni u m Pro d u c t i o n Pro j e c t 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 EQUITY RAISE PRESENTATION Not for distribution or r
Slide 17: Peninsula's Lance Project
Pe ni n s ul a ’ s La n c e Pro j e c t s For personal use only “One of the Largest US Uranium Projects Known” A modern, large-scale, long-life, constructed and Lance Projects Resource Estimate as at 31 Dec 20211 fully-permitted project 53.7 Mlbs U3O8 of JORC (2012) Resources1 Classification Ton
Slide 18: The District Scale Lance Project
T h e D i s t r i c t S c a l e La n c e Pro j e c t s For personal use only • 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 produc
Slide 19: 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 Pro 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 effective method of • The lowest quartile uranium mines for production costs uranium production Regulatorily De-ri
Slide 20: Key DFS Results
Key D FS R e s ul t s For personal use only “Strong results supported by a quality resource and detailed technical evaluations” DFS Case: 2-Stage Ramp-up to 2 Mlbs/yr. KEY DFS RESULTS Estimated Life of Mine (LoM) 14 years Includes Ross and Kendrick but not Barber LoM Project Revenue (real) (US$ M)
Slide 21: Strong DFS Economic Outcome
St ro n g D FS Ec o n o mi c O u t c o m e s For personal use only “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
Slide 22: Systematic Progress Leading To Restart FID
Sy s t e m a t i c Pro g re s s Le a di n g To R e s t a r t FID For personal use only 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
Slide 23: Advancing Lance Towards Restart
A d va n ci n g La n c e To wa rd s R e s t a r t For personal use only 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 an
Slide 24: 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 EQUITY RAISE PRESENTATION Not for distribution or release in the United States 24
Slide 25: Peninsula's Key Differentiator
Pe ni n s ul a ’ s Key D i ffe re nt i a to r For personal use only “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
Slide 26: 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 • 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
Slide 27: 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 EQUITY RAISE PRESENTATION Not for distribution or release in the United States 27
Slide 28: Well-Positioned to Fast-Track Into Production
We ll - Po s i t i o n e d t o Fa s t - Tra c k Int o Pro d u c t i o n For personal use only 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 respe
Slide 29: The Peninsula Advantage
T h e Pe ni n s ul a A d va nt a g e For personal use only 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, operation
Slide 30: Contact Details
For personal use only 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 info@pel.net.au FURTHER INFORMATION Wayne Heili Managing Director/CEO +1 (307) 467-9401 Not for distribution or release
Slide 31: Appendix – Resource
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 (kg) Grade (ppm U3O8) U3O8 (Mlbs) (million) 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 32: Appendix – Risk Factors
A p p e n di x 2 – R i s k Fa c t o r s For personal use only 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
Slide 33: Appendix – Risk Factors
A p p e n di x 2 – R i s k Fa c t o r s For personal use only 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 chang
Slide 34: Appendix – Risk Factors
A p p e n di x 2 – R i s k Fa c t o r s For personal use only 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 perform
Slide 35: Appendix – Risk Factors
A p p e n di x 2 – R i s k Fa c t o r s For personal use only 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
Slide 36: Appendix – International Offer Restrictions
A p p e n di x 3 – Int e r n a t i o n a l O ffe r R e s t r i c t i o n s For personal use only 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 d
Slide 37: Appendix – International Offer Restrictions
A p p e n di x 3 – Int e r n a t i o n a l O ffe r R e s t r i c t i o n s For personal use only 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
Slide 38: Appendix – International Offer Restrictions
A p p e n di x 3 – Int e r n a t i o n a l O ffe r R e s t r i c t i o n s For personal use only 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 me
Slide 39: Appendix - Lance Exploration Target Additional Disclosure
A p p e n di x 4 - 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 Exploration Target The Lance Projects cover a significant proportion of the Powder River Basin Basin Cretaceous sandstones of Wyoming, which are believed to represent an Exploration Ta
Slide 40: Appendix - Lance Exploration Target Additional Disclosure
A p p e n di x 4 - 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 With a database of approximately 7,500 drillholes together with several decades of geological research the level of exploration activity
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