Pacmag sells uranium assets to Peninsula

TAKING advantage of the white-hot uranium sector was one of the driving factors behind Pacmag Metals’ decision to divest its yellowcake assets to Peninsula Minerals, with Pacmag chairman Mike Joyce not ruling out the possibility for a return to the commodity’s industry.

Both companies have signed a heads of agreement with Peninsula to acquire 100% of Pacmag’s uranium assets in the US, South Australia and Western Australia following a due diligence period.