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Peninsula Energy Withdraws 2026 Production Guidance on Slower Well Field Ramp-Up; Shares at All-Time Low

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Peninsula Energy (ASX:PEN) withdrew its calendar 2026 production guidance following a slower-than-anticipated well field ramp-up, largely related to reduced flow rates, as it continues to advance the Lance Uranium Project's low-pH in-situ recovery (ISR) operations, according to a Wednesday Australian bourse filing.

The company said the issues relate mostly to Mine Unit 1, Mine Unit 3 and well field chemistry refinement in the first two to three header houses in Mine Unit 4, with calendar 2027 production guidance of 500,000 to 600,000 pounds of uranium oxide reconfirmed.

Following its recently secured $56 million funding package, Peninsula said it remains in a position to continue the production ramp-up, supported by a cash balance of $47.1 million as of July 17, it added.

The company's shares sank 24% in recent Wednesday trade and earlier hit an all-time low.

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