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Peninsula Energy Director Steps Down

Peninsula Energy (ASX: PEN) director Michael Barton has stepped down from his role with immediate effect.

The company had in December noted it is was continuing allowable pre-license construction activity at the Ross Permit Area of its Lance Uranium Projects in Wyoming ahead of its being issued the final Source Material Licence.

Work is continuing at the central processing plant building and administration facility sites.

Excavation has also started for the installation of the Containment Barrier Wall (CBW), located along the south side of the building and pond locations.

Peninsula is well positioned to move quickly to full construction of the central processing plant and production well-fields upon issuance of the SML from the Nuclear Regulatory Commission, scheduled for late March 2014.

Subject to financing and SML grant, commencement of production at Ross is planned for the second half of 2014.

Ross will have production capacity of up to 1.25 million pounds per annum. It will be followed by Kendrick, ramping up over several years to a steady state 2.3 million pounds per annum.

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