Australia's Peninsula Energy slumps on termination of resin processing deal

Peninsula Energy

19/07/2023 02:26

** Shares of uranium miner Peninsula Energy Ltd  PEN.AX 
fall as much as 30.6% to A$0.125, their biggest intraday pct
drop since June 4, 2020
    ** Co's resin processing provider, Uranium Energy Corp,
notified terminating agreement with co
    ** Agreement was to treat loaded resins and produce dry
yellowcake from Lance ISR Projects in U.S. 
    ** Says co will now accelerate plans for in-house resin
processing and dry yellowcake production at the projects
    ** Co hits their lowest level since March 28, 2023
    ** About 14.9 mln shares change hand at 0110 GMT compared to
30-day average trading volume of 3.2 mln shares 
    ** Shares of co are up 38.5% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))