Peninsula Energy Limited along with its wholly owned subsidiary Strata Energy Inc. (Strata) announced the award of a supply contract between Strata and the US Department of Energy (DOE) to provide domestically produced uranium concentrates to the USD 75 million Uranium Reserve established by Congress in 2020. Under the supply award, Strata is to supply 300,000 pounds of US origin U3O8 for the Uranium Reserve. Strata was a qualified supplier under the terms of the solicitation and provided an initial offer to the DOE in early August 2022.

The DOE notified the successful suppliers on 15 December 2022 (US time). The delivery will be satisfied with US origin material currently held in the accounts of Strata. The agreed pricing is above current reported spot and term pricing benchmarks, reflecting the scarcity of US origin materials in the uranium market.