Peninsula Energy (PENMF) Stock Gained 60% Last Week: Here is Why

The Peninsula Energy Ltd (OTCMKTS:PENMF) stock is likely to be in focus among investors this week owing to the sort of gains it recorded last week. Despite there being no news about the company, the Peninsula stock soared by as much as 60%.

Considering the magnitude of the gains made by the stock it might be a good move to take a look at development from back in April this year.

Wayne Heili of Peninsula had stated in an interview that the demonstration test modifications for its Lance Project have delivered impressive results. He noted that one of the more important results was that there has been a rise in uranium recovery solutions.

That is a significant finding for the company and one that could have a long-term effect on Peninsula Energy’s fortunes. In light of the rally last week, it could be a good move for investors to keep an eye out for any news regarding Peninsula.