Peninsula Energy Limited has provided an update on its Lance Project in Wyoming, detailing significant progress in key operational workstreams and outlining steps to reset its production strategy. The Company is in the final stages of constructing its Central Processing Plant, with on-site work being directed towards securing regulatory certification and initiating hot commissioning. An initial payment of US$1.25 million has been made to Samuel EPC under a previously announced settlement, emphasizing the commitment to advancing plant development. In tandem with construction efforts, Peninsula Energy Limited is refining its commercial strategy. The reset plan involves renegotiating sales contracts in order to align with the updated production timeline. As part of this approach, three contracts with global power utilities—amounting to 1,950,000 lbs of dried yellowcake over eight years—have been terminated by mutual consent. This move removes future delivery obligations and any associated liabilities, though it also means that the Company will now be fully exposed to fluctuations in uranium pricing without the cushion of fixed take-or-pay arrangements. The Company is actively pursuing short-term debt funding as it works to complete the remaining workstreams, with several reputable parties already conducting due diligence at the site. This funding initiative is critical for supporting the revised production plan and preparing for a restart of operations. Despite these positive developments, trading in the Company’s shares remains suspended as discussions continue regarding sales contracts, production guidance, and related financial plans. Market sentiment surrounding the news is mixed. On the bullish side, progress on the Central Processing Plant and the disciplined approach to restructuring contracts suggest that Peninsula Energy Limited is positioning itself for long-term operational success. The active pursuit of short-term funding and the potential to re-engage with former customers once the project demonstrates consistent production add to the optimistic outlook. Conversely, the suspension of trading underscores ongoing uncertainty, and the termination of contracts introduces an element of price volatility due to the loss of fixed pricing mechanisms. These factors may be viewed as bearish by investors cautious about near-term disruptions and market risk.