PEN 1.75% 28.0¢ peninsula energy limited

News: Peninsula Energy appoints Evgenij Iorich to the board

  1. Peninsula Energy (ASX:PEN) has appointed Evgenij Iorich to the board as a non-executive director.

    Iorich currently holds a senior executive role at Pala Investments Limited and joins the board following Pala’s funding commitment in the recent $69.4 fully underwritten institutional funding for the Lance Projects in Wyoming U.S.

    Peninsula is looking to have the Lance ISR projects in production in 2015, one of few global projects to do so.

    John (Gus) Simpson, Peninsula's executive chairman, commented on the appointment: “The board welcomes Evgenij to the Peninsula board.

    "We are pleased to have him join the group going forward and welcome the support of Pala who are committed to partnering with Peninsula in becoming the ASX’s next uranium producer.”

    Recent research reports 

    Proactive Investors Research provided a Speculative Buy recommendation with a price target of $0.06 within 3-6 months based on Lance projects value as well as Peninsula's Karoo Projects in South Africa which has potential to rival Langer Heinrich in scale.

    Perth broker Patersons has also provided a Speculative Buy recommendation with a 12 month price target of $0.06.

    This reflects it securing Stage 1 funding with the support of major institutional investors and forward contracts that are well above the current spot uranium price.


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