Peninsula Energy Secures Permits for 19.8Mlbs Uranium at Kendrick Project
Peninsula Energy has received critical regulatory approvals for its Kendrick Project in Wyoming, paving the way for uranium recovery operations and advancing its broader Lance Projects development strategy.
- Wyoming Department of Environmental Quality grants Permit to Mine and Source Materials License for Kendrick
- US EPA approves Aquifer Exemption for Kendrick Project Area
- Kendrick holds a JORC-compliant resource of 19.8 million pounds of U3O8
- Combined Ross and Kendrick resources support over a decade of uranium production
- Phase II of Central Processing Plant commissioning underway despite temporary uranium capture pause
Regulatory Green Light for Kendrick
Peninsula Energy Limited has reached a significant milestone with the receipt of major regulatory approvals necessary to commence uranium recovery operations at its Kendrick Project Area, part of the larger Lance Projects in Wyoming. The Wyoming Department of Environmental Quality (WDEQ) has granted the Permit to Mine and Source Materials License, while the U.S. Environmental Protection Agency (EPA) Region 8 has approved an Aquifer Exemption for the project’s injection zone. These approvals mark the culmination of a rigorous regulatory process and clear the path for production activities to begin.
Strategic Importance of Kendrick
Kendrick is positioned as the next sequential production area following the Ross Area within the Lance Projects. It boasts a substantial JORC (2012) compliant uranium resource estimated at 19.8 million pounds of U3O8. When combined with Ross, the two areas hold a total resource base of 26.2 million pounds, underpinning at least a decade of production-ready uranium supply. This resource scale reinforces Peninsula’s status as a key player in the US uranium sector and supports its ambition to become a fully independent uranium producer.
Operational Progress and Challenges
While regulatory hurdles have been cleared, Peninsula Energy has temporarily paused uranium capture operations due to a piping issue identified in Phase I of its Central Processing Plant (CPP). The company is actively working with its primary contractor, Samuel EPC, to resolve this issue ahead of commissioning Phase II of the CPP, which is progressing well with commissioning and handover activities scheduled to begin shortly. This development phase is critical to ramping up production and achieving operational targets.
Outlook and Market Position
Peninsula’s Managing Director and CEO, George Bauk, emphasized the importance of the Kendrick approvals as a foundation for long-term growth at Lance. The company is finalizing an updated production forecast to reflect these developments and expects to share this with the market soon. With a refreshed leadership team and a flagship asset in a strategically important uranium market, Peninsula is well-positioned to capitalize on improving market conditions and contribute meaningfully to the US clean energy transition.
Bottom Line?
With Kendrick’s permits secured, Peninsula Energy is poised to accelerate uranium production, but operational hurdles remain to be cleared.
Questions in the middle?
- When will Peninsula release its updated production forecast reflecting Kendrick’s approvals?
- How quickly can the Central Processing Plant piping issue be resolved to resume uranium capture?
- What impact will Kendrick’s production ramp-up have on Peninsula’s overall market positioning?
