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Peninsula Energy ( (AU:PEN) ) has shared an update.
Peninsula Energy announced a fully underwritten A$69.9 million equity raise to support its reset production plan and ramp-up operations. This funding will be used for final construction payments, wellfield development, and other corporate costs. The company has updated its production guidance with a focus on sustainable operations, aiming for a significant increase in uranium production by 2027. The equity raise includes significant commitments from investors, including Tees River Uranium Fund, which will become a cornerstone investor. This strategic move positions Peninsula Energy to strengthen its market presence and meet the growing demand for uranium, particularly in the U.S.
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 is a company operating in the uranium industry, focusing on uranium production and supply. It is involved in the development and operation of uranium resources, with a strategic emphasis on the U.S. market and global uranium supply chains.
Technical Sentiment Signal: Sell
Current Market Cap: A$98.97M
For detailed information about PEN stock, go to TipRanks’ Stock Analysis page.