Peninsula Energy Ltd's (ASX:PEN) non-executive chairman, John Harrison, has bought 20,000 shares on market for $15,675, which is an average entry price of around $0.78.
Harrison has a wealth of experience and resource sector knowledge acquired over a 45 year career, including 20 years of investment banking in London.
He has developed an extensive international contact base advising companies across a range of commodities, including uranium, and raising more than £500 million in equity capital in the process.
Peninsula is currently producing uranium from the Lance Projects in Wyoming, U.S.
Recently the company raised $15 million in funding from its major shareholders, Resource Capital Fund (RCF) and Pala Investments Ltd, to drive expansion and reduce future cash costs by US$9-10 a pound.
Under these agreements, RCF VI and Pala have each provided Peninsula with a convertible loan facility, with participation in proportion to their existing shareholdings in the company.
Resource Capital Fund VI has a stake of 21.6% and Pala Investments a 12.2% shareholding in Peninsula, respectively.
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