Peninsula Energy (PEN) Q1 2027 TU earnings summary

Executive summary

• Wellfield changes lifted flow rates at HH15 and HH17 to ~370 GPM and ~500 GPM, respectively; the next priority is converting hydraulic gains into stronger, more consistent uranium head grades.

• Production ramp-up remains slower than planned, but new recovery wells, revised operating practices and technical oversight are supporting the path toward CY2027 production objectives.

Financial highlights

• Quarter-end cash was US$33.6 million after full drawdown of the Soul Patts Convertible Debt Facility during the quarter.

• Uranium captured on resin was 17,968 lb in 1Q27 versus 13,889 lb in 4Q26; pounds drummed were 15,588 lb versus 11,482 lb.

Outlook and guidance

• CY2027 production guidance was reconfirmed at 500,000–600,000 lb U3O8; prior CY2026 guidance of 400,000–500,000 lb was withdrawn after the slower-than-expected H1 ramp-up.

• December-quarter priorities include improving head grades through acid addition toward target pH ~1.8, optimizing well patterns, and improving resin loading, elution and recovery performance.