(MENAFN- ProactiveInvestors)
() has been granted a trading halt by the ASX pending an announcement from the company in relation to the financing of the Lance Projects.
Peninsula is aiming to bring the Lance Projects into production in 2015.
Earlier in the month the company entered into an additional uranium concentrate sale and purchase agreement with a major U.S. power utility.
Deliveries of uranium concentrate under the new agreement will commence in 2016 and continue through until 2024.
Up to 912500 pounds of uranium will be delivered by Peninsula under the new agreement at a base price consistent with current uranium Term Contract Price.
This adds to the existing 2011 sale & purchase contract which represents 34-50% of annual sales during the initial years of operation.
The halt will remain in place until the opening of trade on Thursday 11th December 2014 or earlier if an announcement is made to the market.
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