Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) is hoping to bolster its North American credentials with the addition of Brian Booth as a non-executive director to its board on May 14.
Peninsula chairman John Harrison said: “We are very happy to secure the experience and services of Brian as a non-executive director as we embark on a critical six-month period for the company."
North American mining experience
He said: “Brian brings extensive North American mining and capital markets experience and an impressive history of successfully guiding and leading companies through the mining lifecycle. I much look forward to working with Brian as we work towards transitioning Lance into production.”
Booth is an experienced mining executive, who brings more than 35 years of experience across the mineral exploration and mining sectors with major and junior mining companies.
Strategies across mining lifecycle
During his career, Booth has held a number of CEO roles developing and executing high-level growth strategies across the mining lifecycle, implementing and progressing key ESG objectives and securing ongoing funding requirements through the capital markets.
Most recently, Booth was president, CEO and director of Element 29 Resources Inc (TSX-V:ECU, OTCQB:EMTRF), a public company listed on the TSX Venture Exchange in Canada, focused on advancing the exploration and development of the Elida and Flor De Cobre copper porphyry projects in Peru.
Before this, Booth was chair of Canadian gold producer Claude Resources acquired by Silver Standard Resources (now SSR Mining Inc.) for C$337 million in 2016.
He was president, CEO and a director of Lake Shore Gold Corp (TSX:LSG) when the company progressed from resource drilling to the underground development of the Timmins West gold deposit and purchased the Bell Creek Mine and Mill. Lake Shore Gold Corp. was acquired by Tahoe Resources in 2016 for C$751 million. Booth is currently a director of SSR Mining Inc.
Defining time for company
The appointment of Booth to the Peninsula board comes at a defining time for the company as it progresses an update to the 2018 Low-pH Feasibility Study at its 100%-owned flagship Lance Project, which is expected to be completed in the third quarter of 2022 and works towards a final investment decision to re-start operations at Lance this year.
Commenting on joining the Peninsula board, Booth said: “I am excited to join Peninsula as a non-executive director and look forward to working with my fellow board members and management team as we work through the critical stages ahead of an FID at Lance later in the year.
“Critical need for nuclear”
“What attracted me to the role were the compelling advantages of Lance and the significant opportunity this project provides to play a role in the critical need for nuclear as part of the green energy mix.
“The moral acceptance of nuclear as an energy source is growing and Peninsula is well-positioned to become an important supplier of uranium once Lance is back in operation.”