{
  "id": 10528391,
  "title": "Peninsula’s uranium resource grows as ramp-up lags",
  "url": "https://urgent.news/2026/09/28/peninsulas-uranium-resource-grows-as-ramp-up-lags",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T15:23:11.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/peninsulas-uranium-resource-grows-as-ramp-up-lags/"
  },
  "original_language": "en",
  "account": "Peninsula Energy has increased the estimated uranium contained at its Lance project in Wyoming, bringing its total to 59 million pounds, according to a recent update. This upgrade solidifies Lance's status as the largest uranium project in the United States based on publicly disclosed and compliant resources. The company now reports 15.5 million measured and indicated tonnes grading 0.05% uranium oxide (U3O8) for 16.2 million pounds of contained U3O8 and 38.5 million inferred tonnes at 0.04% U3O8 for 41.7 million pounds of U3O8. The resource in the Ross area expanded by almost 16% to 7.4 million pounds of U3O8, a 1.7% increase over the 2023 figure. However, the gains at Lance's Kendrick and Barber targets remain minimal at this point, with neither producing at the moment. While the resource size may seem modest, the ultimate value lies in the location of these reserves. Peninsula shares slipped almost 2% to A25.5¢ in Sydney on Friday, rebounding nearly 2% to A26¢ on Monday, with the company currently valued at A$145.7 million. The production forecast was revised downward in July due to slower than anticipated ramp-up and low solution flow rates in the wellfields, resulting in a US$50 million non-cash impairment expense. Despite this, Peninsula maintains its 2027 production guidance of 500,000 to 600,000 pounds of U3O8. The update arrives as Wyoming sees a resurgence in U.S. uranium mining, with most production facilities located in the state. U.S. uranium production surged to 2.1 million pounds of U3O8 in 2023, the highest level since 2017, following restarts of idled operations and plans to raise domestic supply. Peninsula's Lance project employs in-situ recovery (ISR) technology, injecting solutions underground to extract uranium and later pumping it to the surface for processing. Wyoming's Ross area, where the recently upgraded resource resides, is the focus of Peninsula's spending, as the company believes it can capitalize on this improved understanding of the resource to meet near-term production targets.",
  "summary": "U.S. uranium production more than tripled last year, as producers plan to raise domestic supply.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}