PERTH (miningweekly.com) – ASX-listed Peninsula Energy has announced the immediate departure of its MD and CEO John Simpson, who will also be stepping down from the board.
Wayne Heili has been appointed CEO and MD, effective April 3.
Peninsula told shareholders on Tuesday that Simpson’s departure followed careful consideration by the company’s board of the key operational and commercial priorities in the near term and the skills set required to further progress the company’s business plan.
Simpson will receive a severance package in accordance with his employment agreement.
“Simpson has carefully led Peninsula from the time that the Wyoming uranium assets were acquired by the company in 2007. He has overseen the delineation of a substantial mineral resource in Wyoming, permitting for development and operations and the evolution of Peninsula from an exploration company to a uranium producer,” said chairperson John Harrison.
“Despite the challenges facing the uranium industry over the past five years, Simpson has been instrumental in securing attractively priced long-term uranium concentrate sale agreements which provide Peninsula with an excellent revenue stream from which to further grow the company.”
Heili has spent nearly 30 years in the uranium mining industry and has most recently served as president and CEO of Ur-Energy. Prior to that, he was operations manager of the Christensen/Irigaray uranium mines, in Wyoming.
Meanwhile, company directors Warwick Grigor and Richard Lockwood have also agreed to step down from the board, while David Coyne has accepted an invitation to join the Peninsula board in an executive capacity as FD, effective March 27.