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Peninsula Energy Appoints David Coyne Chief Financial Officer

Peninsula Energy (ASX: PEN) has appointed David Coyne as its new chief financial officer - with immediate effect.

Coyne joins Peninsula after having held similar senior executive roles including chief financial officer-Australia for manganese miner Consolidated Minerals and, most recently, chief financial officer for engineering and construction company VDM Group (ASX: VMG).

Gus Simpson, executive chairman for Peninsula, commented: "We are pleased to welcome David to the company.

"The experience that he brings in relation to financial control and reporting along with debt/equity capital markets will be instrumental in the efficient development of both the Lance Projects and the company going forward."

Lance Projects

The Lance Projects are ready to be progressed to the construction stage subject to current permitting and project funding status. Total construction time is estimated at 12 months with first commercial U3O8 production estimated to begin in 2014 subject to final permitting.

Lance has a JORC Resource of 53.7 million pounds U3O8 at the Ross, Kendrick and Barber Production Units.

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