Uranium producer Peninsula Energy has appointed George Bauk as its managing director and chief executive, effective from January 20.
Uranium producer Peninsula Energy has appointed George Baulk as its managing director and chief executive, effective from January 20.
The appointment follows on from news in November last year that longstanding MD and CEO Wayne Heili had signaled his intent to resign from the role, following a conversation with company chair John Harrison.
Despite this, Mr Heili will not be totally lost to the company, as he will transition into technical adviser role.
Mr Bauk, who has more than 30 years of experience across multiple sectors – including uranium, rare earths, gold and lithium – joins Peninsula with sustained managerial and capital raising experience, along with a solid network of contacts within both the global political and uranium arenas.
“I am extremely pleased to be joining the Peninsula team at such an exciting and pivotal time for the company,” Mr Bauk said.
“I want to acknowledge the outstanding work of Wayne in bringing the Lance project back into production and setting a solid foundation for its future success.
I look forward to collaborating with him in his advisory role as we build on this achievement.
“The uranium market is experiencing a remarkable resurgence, driven by the growing global demand for clean, reliable energy.
“As nations prioritise reducing carbon emissions and enhancing energy security, uranium’s role in fuelling nuclear power has become more critical than ever.
“The past year has underscored this growth, with increasing investments in nuclear energy projects, growing global recognition for nuclear as the leading clean energy source and strong tailwinds for the sector.”
The new CEO arrives just weeks after production resumed at the company’s flagship Lance project, located in the American state of Wyoming, on December 18.
Prior to this, Peninsula forewarned shareholders that its 2025 calendar year production guidance would be revised, from 700,000-900,000 pounds of uranium oxide to 600,000 pounds, due to previously unrectified commissioning of its new acid storage and delivery systems.
Six days after Mr Heili’s announcement, Peninsula confirmed Wyoming-based Frederic Guerin had been appointed chief operating officer.
In this role, the uranium producer said Mr Guerin would report to Mr Heili and oversee all mining and process-based operations for the company.
As a result of this, Ralph Knode, CEO of Peninsula’s subsidiary Strata Energy, moved into a new senior-based role once Mr Guerin had found his feet with the new job.
Peninsula last traded at $1.38, down 6 per cent as of 11.44am AWST, while the present uranium spot price is $US74.90 per pound.
