Under the agreements, Peninsula will supply about 1,935,000 pounds of uranium with deliveries due to start next year.

The power utilities will pay term contract prices reported by uranium industry commentators during the first half of this year. It would be well above the current spot price.

Peninsula Energy now has four agreements in place for a major part of the U3O8 that the company wants contracted in the next five years.

Peninsula Energy managing director/CEO Gus Simpson said: "We are very pleased to add two more contracts to Peninsula’s forward sale position, guaranteeing a significant proportion of the Company’s revenue stream at better than market when production commences at the Lance Projects."

The company signed a sales deal in December last year to supply about 912,500 lb of uranium to a US power utility between 2016 and 2024.

The Lance projects are situated on the North-East flank of the Powder River Basin in Wyoming. They have 305 line kilometers of identified roll fronts and an exploration target of 104 to 163mlbs U3O8.