Peninsula Energy Limited (AU:PEN) has released an update.
Peninsula Energy Limited has successfully completed a significant equity raising effort, securing A$105.9 million before costs, with its retail entitlement offer contributing A$39.8 million to the total. Despite a shortfall in the retail component, the entire offering was fully underwritten, positioning Peninsula to advance operational restart at the Lance Projects in late 2024 and sustain cash flow into the third quarter of 2025. The raised capital will support the company’s development and construction work, ensuring a robust financial footing for near-term production.
For further insights into AU:PEN stock, check out TipRanks’ Stock Analysis page.
