Latest Lance Project News

Peninsula Energy has increased the reported uranium resource at its Lance Project in Wyoming to 59.0 million pounds, with the Ross area delivering the clearest gain. The update adds confidence around Mine Unit 4, but remains a mineral resource estimate rather than a reserve or production forecast.

Peninsula Energy expects to book an approximately US$50 million non-cash impairment against legacy assets at its Lance uranium project in Wyoming. The charge removes value from Mine Units 1, 2 and 3 as the company concentrates capital and technical resources on Mine Unit 4 and future development.

Reward Minerals has begun the first-ever drilling at its Mountain Pond project in Newfoundland, testing whether a surface quartz vein and shear zone continues underground. New soil results have also outlined copper targets at Ante Up and Wildcard, but the project remains firmly in the discovery phase.

Reward Minerals (ASX:RWD) reported strong gold and copper assay results from its Mountain Pond Project in Newfoundland, with preparations underway for maiden drilling in the September quarter. The company also advanced its potash processing technology and ongoing discussions for the Beyondie Potash Plant in Western Australia.

Reward Minerals has validated high-grade gold and copper mineralisation at its Mountain Pond Project in Newfoundland, advancing towards maiden drilling at the Jackpot Prospect with strong soil sampling at nearby Bingo.

Peninsula Energy has extinguished its convertible loan debt with Adare Finance by issuing over 21 million shares and is positioned to draw down a new US$30 million convertible note facility, subject to conditions.

Reward Minerals has kicked off field activities at its Mountain Pond and Copper Lance projects in Newfoundland, advancing towards maiden drilling at the Jackpot Gold Prospect with sampling results due soon.

Peninsula Energy has executed a definitive agreement for a US$30 million senior secured convertible note facility with an affiliate of Soul Patts, advancing its financing strategy for the Lance Uranium Project in Wyoming.

Peninsula Energy has completed a fully underwritten A$36.1 million equity raising, supplemented by a US$30 million convertible debt facility, bolstering its financial firepower as it ramps up uranium production at its Lance Project.

Reward Minerals has identified new untested gold and copper anomalies at its Mountain Pond Project in Newfoundland, gearing up for maiden drilling in 2026 with local contractor support and strategic acquisitions underway.

Peninsula Energy (ASX: PEN) has voluntarily suspended trading of its shares pending a Supreme Court decision on the validity of share sales made earlier this year. The court hearing, set for 22 April, will determine if required disclosures were properly made for sales between February and April 2026.

Peninsula Energy has partially converted US$4.1 million of its convertible loan facility with Adare Finance, reducing its outstanding debt and issuing nearly 20 million shares at A$0.30 each. This transaction supports ongoing funding for the Lance Uranium Project restart and Reset Plan execution.