Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) has bolstered the expertise of its board with the appointment of Rachel Rees as a non-executive director, effective as of Saturday, February 5.
Rees brings more than 25 years’ experience in senior executive roles for multinational listed and unlisted companies across diverse industries including uranium, transport and logistics, industrial conglomerates, agriculture and member-based associations.
Peninsula is pursuing the potential restart of its Lance Uranium Project in Wyoming US, which will be well placed to capitalise on US government incentives once it returns to production.
Extensive experience
“We are thrilled to welcome someone of Rachel’s calibre to the Peninsula board,” Peninsula Energy chair John Harrison said.
“Rachel is a highly regarded professional with commercial acumen and excellent uranium experience having played a key role on the development of the Honeymoon ISR project in South Australia during her time with Uranium One Australia.
“Additionally, Rachel has extensive Australian and international experience in strategic business, risk management and financial management and unique corporate governance experience.
“We think she will add considerable strength to the board as we contemplate an exciting growth phase.”
Rees is an experienced non-executive director, risk, audit and finance committee chair and international presenter.
She is non-executive director and chair audit committee for MACA Ltd, a non-executive director and chair risk, audit and finance committee for Governance Institute Australia and is the managing director of Rees Corporate and Governance Advisory Pty Ltd.
Exciting outlook for Peninsula
Commenting on her appointment Rees said, “I am delighted to be back working in the uranium sector and excited to be joining the Peninsula board.
“Peninsula is in such an interesting position being the only ASX-listed US-focused uranium company, with an advanced project that is close to a re-start decision, and an existing uranium sales contract book that delivers significant cashflow.
“The outlook for Peninsula, along with the uranium sector, is very exciting.”
Rees has had previous executive experience across key roles including the uranium industry as vice president for TSX-listed Uranium One and executive director and chief financial officer of its Australian subsidiary between 2004-11.
Outside uranium, Rees has held positions as group chief financial officer and company secretary at both Lionel Samson Sadleir Group and Empire Oil and gas and chief financial officer at Rex Minerals Ltd.
About Peninsula Energy
Peninsula Energy owns the Lance Uranium Projects in Wyoming, the US which is transitioning from an alkaline in-situ recovery to a low-pH in-situ recovery operation.
The company is the only ASX-listed uranium company that has the immediate ability to take advantage of the US Government’s programs supporting domestic uranium mines.
When back in operation, Peninsula has long-term sales contracts extending to 2030, representing about 15% of projected Lance production.