In the Quarterly Activities Report:
US$19m Cash Realised Through Non-dilutive Contract Transaction
On 31 January 2018 the Company signed binding agreements to sell a portion of its interest in an existing longterm uranium concentrate sale and purchase agreement for cash consideration of US$19.0 million (Contract Sale).
Under the terms of the Contract Sale, Peninsula has sold to a third-party a portion of its delivery commitments under two (2) existing uranium concentrate purchase and sale agreements. The volume of U3O8 delivery obligations sold totals 935,000 pounds. The delivery commitments were previously scheduled to be fulfilled between 2018 and 2021.
Proceeds from the Contract Sale of US$19.0 million were received in full by Peninsula on 31 January 2018.
As part of the Contract Sale, Peninsula has also sold its entire interest in an agreement to purchase 900,000 pounds U3O8 between 2018 and 2020. This purchase commitment is no longer required as uranium purchases under this agreement were intended to provide the bulk of the material for the delivery commitments that have now been sold.
In the Quarterly Activities Report: US$19m Cash Realised Through...
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