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Peninsula Energy ( (AU:PEN) ) has issued an update.
Peninsula Energy Limited has announced a fully underwritten equity raising of A$69.9 million, consisting of a pro-rata accelerated non-renounceable entitlement offer and a two-tranche placement of new shares. The funds raised will be allocated towards the construction of a central processing plant, infrastructure development, studies, sales contract termination payments, and corporate working capital. This move is expected to strengthen Peninsula’s financial position and support its ongoing projects, potentially enhancing its market presence in the uranium industry.
The most recent analyst rating on (AU:PEN) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Peninsula Energy stock, see the AU:PEN Stock Forecast page.
More about Peninsula Energy
Peninsula Energy Limited operates in the energy sector, focusing on uranium mining and production. The company is listed on the Australian Securities Exchange (ASX) under the ticker PEN, and it is involved in the development and operation of uranium projects.
Average Trading Volume: 7,241,274
Technical Sentiment Signal: Sell
Current Market Cap: A$52.8M
For an in-depth examination of PEN stock, go to TipRanks’ Overview page.