Peninsula Energy Reports Significant Cash Outflows Amid Lance Project Development

The latest announcement is out from Peninsula Energy ( (AU:PEN) ).

Peninsula Energy Limited’s quarterly cash flow report reveals a net cash outflow from operating activities amounting to $1.917 million, primarily due to staff and administrative costs. The company also reported significant cash outflows of $18.893 million in investing activities, largely attributed to the Lance Project development costs. Financing activities provided a minor net cash inflow of $142,000, resulting in a decrease in cash and cash equivalents for the period.

More about Peninsula Energy

Peninsula Energy Limited operates in the mining exploration industry, focusing primarily on uranium exploration and development projects. The company is involved in the Lance Project, which is a significant aspect of its operations.

YTD Price Performance: -54.07%

Average Trading Volume: 26,773

Technical Sentiment Signal: Buy

Current Market Cap: $63.62M

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