Peninsula Energy Limited · ASX:PEN
Peninsula Energy — Non-Deal Roadshow (August 2024)
28 slides from Peninsula Energy's roadshow presentation, Aug 5, 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 A u g u s t 2 0 24 In v e s to r R o a d s h o w 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: Company Highlights
Co m p a ny Hi g hli g h t s Lance Projects: The next ASX-listed uranium company set to enter production with a world-class asset in a tier-1 jurisdiction On-track for commencement of production commissioning in late 2024 Strong financial position with current cash balance expected to fund operation
Slide 4: Corporate Overview
Co rp o ra t e O v e r v i e w A$351m A$0.11 3.19B 335.7m US$99.9m Nil Market Share Price Shares on Issue Options 1 Cash Term Debt Capitalisation (As of 29 Jul 2024) (29 Jul 2024) (29 Jul 2024) (30 Jun 2024) (As of 29 Jul 2024) Board of Directors Share Price Performance Mr John Harrison Non-Executiv
Slide 5: Management Team
M a n a g e m e nt Te a m • Experienced in design, construction and operation of Uranium ISR facilities Wayne Heili Willie Bezuidenhout Managing Director and CEO Interim CFO, VP – Corporate Development Mr Heili has spent the bulk of his 35+-year professional career in the Accomplished Chartered Acco
Slide 6: Sustainability Focus
S u s t a in a b ili ty Fo c u s Peninsula’s inaugural Sustainability Report is built around the pillars of Employees, Environment, Social and Governance (“EESG”) • 2023 Report Sustainability highlights: • No lost-time or recordable injuries for more than 6 years (now 7) • Rollout of ISO 14001 & ISO
Slide 7: Ready to Deliver into a Robust North American Market
R e a d y to D e li v e r into a R o b u s t N o r t h A m e ri c a n Ma rket Bolstering the domestic supply chain • US ban on Russian sourced uranium has unlocked $2.72 billion of funding in support of domestic nuclear fuel supply Uranium Price History USD/lb • Acceleration of nuclear technology de
Slide 8: The Lance Uranium In-Situ Recovery Project
T HE L A N CE UR A NIUM IN - SI T U R EC O V ER Y P R O JECT PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 8
Slide 9: Lance – A Premier ISR Uranium Project & Location
La n c e – A P re mi e r ISR Ura ni u m P ro j e c t & Lo c a t i o n Located in Wyoming USA, a leading US uranium extraction jurisdiction PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 9
Slide 10: The Lance Projects – Wyoming, USA
T h e La n c e P ro j e c t s – W y o m i n g , US A • Ross Production Project Area • Fully licensed uranium ISR production project • Home of the project facilities and central process plant • Estimated remaining Resource of 6.4 Mlbs U3O8 • 2 previously operated Mine Units (MU-1 and MU-2), with pote
Slide 11: Lance Project JORC Resource
La n c e P ro j e c t J O R C R e s o u rc e U3O8 Tonnage Metal Grade U3O8 Permit Area (Mtonnes) (ppm U3O8) (Ktonnes) M lbs Ross One of the Largest Uranium ISR Projects Measured 1.5 0.8 510 46 1.7 Indicated 3.1 1.4 3.1 in the United States Inferred 1.5 0.7 0 450 1.5 Total 6.1 2.9 470 6.4 Kendrick Me
Slide 12: The Lance ISR Project History (2015 - 2019)
T h e La n c e ISR P ro j e ct Hi s to r y ( 2015 - 2019 ) Mine Unit 2 Satellite Plant Ion Exchange System • Lance was granted a license to produce up to 3.0 Mlbs U3O8 per year • The plant was first constructed in 2015 as a satellite facility to produce uranium-loaded ion exchange resins, relying on
Slide 13: Preparations for Production at Lance
PR EPA R AT IONS FO R PR O D U CTIO N AT L A N CE PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 13
Slide 14: Lance Project Upgrade Activities (2019 - Present)
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 ( 2019 - Pre s e nt ) 1. Transition to low-pH recovery - Complete Process Plant Phase II Upgrade • Low-pH uranium in-situ recovery is the most widely Previous utilized method for uranium production U3O8 Processing Toll “Dry Circuit Processing •
Slide 15: Plant Expansion Design
Pl a nt Ex p a n s i o n D e s i g n Phase II Plant Expansion Update • Plant design capacity to be expanded up to 2.0 Mlbs U3O8 per year in 2024 • Design incorporates ability for future expansion to 3.0 Mlbs/yr • Plant capability to be expanded to include resin processing/elution, precipitation, fil
Slide 16: Construction Progress at Lance
Co n s t r u c t i o n P ro g re s s a t La n c e Phase II Plant Expansion Update • Activities to expand the plant are progressing as scheduled • All major process equipment is ordered for on schedule delivery with costs kept in line with budget expectations • Auxiliary facilities designed to improv
Slide 17: Wellfield Development Progress Update
We ll f i e l d D e v e l o p m e nt Progress Update • Mine Units 1 and 2 have been modified for low-pH ISR operations • Mine Unit 3 (MU-3) is the first wellfield at Lance specifically designed for the low-pH in-situ recovery method • 11 drilling rigs working under contract to develop new Mine Units
Slide 18: Pre-Production Operational Activities
P re - Pro d u ct i o n O p e ra t i o n a l A c t i v i t i e s Wellfield Preconditioning • Mine Unit 1 preconditioning operations commenced in July • Lowering the pH in the wellfield area to prepare for production • MU-3 is anticipated to be available for preconditioning in Q3 -2024 Process Optimi
Slide 19: 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 Q3 2025 Commencement Commence Plant Project Projected of Plant Mine Unit Commissioning/ to Achieve Expansion Pre-conditioning Low pH-ISR Sustainable Construction Operations Production Start Positive Free Cash Flow May-
Slide 20: Production Guidance and Offtake Contracts
P R O D U CT I O N GUID A N CE A ND O FFTA K E C O N T R A CTS PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 20
Slide 21: Production Guidance
P ro d u c t i o n Gui d a n c e 3-Year Estimated Production • CY 2025 through 2027 total production CY-2025 0.7 – 0.9 Mlbs guidance closely aligns with August 2023 CY-2026 1.4 – 1.6 Mlbs Ross and Kendrick LOM Model plan CY-2027 1.4 – 1.6 Mlbs • August 2023 LOM plan developed to reach steady-state p
Slide 22: 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 with
Slide 23: Significant Potential Exploration Upside
SIGNIFI C A N T P OT EN T I A L EX P LO R AT IO N UP SID E PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 23
Slide 24: Lance Projects Exploration Upside
La n c e P ro j e c t s Ex p l o ra t i o n Up s i d e Exploration Target of 104 – 163 Mlbs eU3O8 • Based on a combination of past exploration results and proposed Ross Area exploration programmes1 • Greater than 300 linear km of redox fronts (mapped in red) • Fronts defined by wide spaced drilling
Slide 25: 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 Opportunity to expand production rate through Satellite In- Situ Recovery operation 6.9 Mlbs U3O8 of JORC (2012) Inferred Resources1 >2x the Grade of U3O8, compared to Lance Resource Mineral rights and data s
Slide 26: 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 26 Not for distribution or release in the United States
Slide 27: 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 28: 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