Big picture - Why invest in Peninsula Energy Ltd
Peninsula Energy Ltd Snapshot
Peninsula Energy Limited (PEN) is an ASX listed uranium mining company which commenced in-situ recovery uranium operations in December 2015 at its Lance Projects in Wyoming, USA.
WYOMING, USA – LANCE ISR URANIUM PROJECTS
(Peninsula Energy 100%)
The Lance Projects are located on the North-East flank of the Powder River Basin in Wyoming, USA (Lance Projects). The original NuBeth Joint Venture between Nuclear Dynamics Inc, Bethlehem Steel Corporation and later Pacific Power and Hydro (NuBeth JV), discovered thirteen substantial zones of uranium mineralisation associated with an extensive system of roll fronts confirmed by drilling between 1970 and 1979. As part of this exploration program, the NuBeth JV drilled more than 5,000 exploration and development holes, totalling in excess of 912,000 metres. A proprietary database of the historic drilling and pilot plant data was acquired by Peninsula in 2007, defining a then relatively unknown uranium district of which Peninsula is now the dominant mineral rights holder.
SOUTH AFRICA – URANIUM
(Peninsula Energy 74% / BEE Groups 26%)
Peninsula held a 74% interest in a total of 40 prospecting rights (PR’s) covering 7,800 km² of the main uranium-molybdenum bearing sandstone channels in the Karoo Basin (Karoo Projects) before embarking on a restructuring strategy during 2016 and 2017 aimed at reducing the Company’s existing tenement landholdings and applying for mining and prospecting rights over areas considered to hold the most significant development potential. Subject to completion of the various regulatory processes, Peninsula’s total tenement holding will amount to 3,669 km2. The residual 26% interest remains with the BEE partners as required by South African law.
Last updated 16th July 2018
MR JOHN HARRISON
(Non Executive Chairman)
Mr Harrison brings to Peninsula a wealth of experience and resource sector knowledge acquired over a 45 year career including 20 years of investment banking in London. During this time Mr Harrison has developed an extensive international contact base advising companies across a range of commodities, (including uranium) and raising more than £500m in equity capital in the process.
Prior to joining RFC Ambrian Ltd and following a successful career in the Lloyd’s reinsurance market, Mr Harrison was Managing Director at Numis Securities Ltd (Numis) where he worked on the development and listing of the then, new Lloyd’s corporate underwriting vehicles, an activity upon which the Numis corporate finance franchise was built.
Mr Harrison is the former Non-Executive Chairman (UK) of international advisory and broking firm RFC Ambrian Ltd and is currently the Non-Executive Chairman of unlisted UK coking coal development company West Cumbria Mining Limited.
MR WAYNE HEILI
(Managing Director / Chief Executive Officer)
Mr Heili has spent the bulk of his 30-year professional career in the uranium mining industry. He most recently served as President and Chief Executive Officer of Ur-Energy, Inc. where he successfully oversaw the design, construction, commissioning and ramp-up of the Lost Creek in-situ uranium project in Wyoming USA. Prior to joining Ur-Energy, Inc., Mr Heili served as Operations Manager of the Christensen/Irigaray in-situ uranium mines in Wyoming and also has experience on conventional uranium mines in Texas. He holds a Bachelor of Science in Metallurgical Engineering from Michigan Technological University and is a past President of the Uranium Producers of America.
MR EVGENIJ IORICH
Mr Iorich is currently Vice President, Investment Team at Pala Investments Limited (Pala) and has extensive experience in the natural resources sector across a broad range of commodities with a focus on M&A opportunities, operational, financial planning and corporate structuring.
Prior to joining Pala in 2006, Mr Iorich was a financial manager at Mechel, the Russian metals and mining company, where his responsibilities included all aspects of budgeting and financial modelling.
Mr Iorich graduated from the University of Zurich with a Master of Arts degree and is currently a Non-Executive Director of TSX-listed Serinus Energy and TSX-V-listed Asian Mineral Resources.
MR HARRISON (HINK) BARKER
Harrison (Hink) Barker retired June 1, 2015 from the Generation segment of Dominion Resources with over 40 years of fossil and nuclear fuel commercial and technical responsibilities. Since 1992, Mr Barker had been the manager responsible for Dominion’s procurement of nuclear fuel and the related processing steps of conversion from U3O8 to UF6, enrichment of UF6, and fabrication of nuclear fuel assemblies.
He is a former chair of the Nuclear Energy Institute’s Utility Fuel Committee, and a past member of the World Nuclear Fuel Market Board of Directors (Chairman for two years). He served on an Advisory Board to American Uranium Corporation while they attempted to develop the Wyoming Reno Creek uranium deposit.
From 1975 to 1984 he worked as an engineer and supervisor in the areas of nuclear fuel quality assurance, nuclear core design, nuclear fabrication contract administration, nuclear fuel procurement, spent fuel transportation and disposal planning during a period when Dominion was building its regulated nuclear operating fleet in Virginia.
Mr Barker holds a Bachelor of Science degree in Electrical Engineering, and a Master’s in Nuclear Engineering Science both from the University of Florida.
MR MARK WHEATLEY
Mr Wheatley is an experienced resources company CEO, Non-Executive Director and Chairman with a career spanning more than 30 years in mining and related industries. He has worked in the uranium industry since 2003 and been involved in ISR project exploration, feasibility studies, start up, production, rehabilitation and closure. His uranium experience includes the roles of Chairman and CEO of Southern Cross Resources Inc., the operator of the Honeymoon ISR uranium project, Non-Executive Director of Uranium One Inc. and Uranium Resources Inc. His other board roles have included Non-Executive Chairman of Xanadu Mines Ltd, Gold One International Ltd, Goliath Gold Mining Ltd, Norton Gold Fields Ltd and directorship of St Barbara Ltd.
MR DAVID COYNE
(Finance Director / Chief Financial Officer)
Mr Coyne has over 20 years' experience in the mining, and engineering and construction industries, both within Australia and internationally. Prior to joining Peninsula, My Coyne held senior executive positions with Australia listed companies Macmahon Holdings Limited and VDM Group Limited, and with unlisted global manganese miner Consolidated Minerals. Over the past 10 years, Mr Coyne has been directly involved in a number of equity and debt raising transactions and has been the project director on a company-wide systems implementation project. Mr Coyne has previously served on the Board of listed iron ore miner, BC Iron limited, where he also held the role of Chairman of the Audit and Risk Committee.
Last updated 16th July 2018
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Units 32/33, Level 3,
22 Railway Road
Subiaco WA 6008
PO Box 8129
Subiaco East WA 6008
Phone: +61 (0)8 9380 9920
Fax: +61 (0)8 9381 5064
Email: [email protected]
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