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Peninsula Energy Names New CEO To Head Up Strata Energy

Peninsula Energy (ASX: PEN) has appointed Ralph Knode as chief executive officer of its subsidiary Strata Energy.

Knode has more than 20 years of experience in uranium mine construction, mine operations and property evaluation, throughout North America, Kazakhstan and Australia.

He joins Strata from Uranium One, one of the world's largest publicly traded uranium producers, where he was senior vice president of projects for the past four years.

During that time Knode worked across all Uranium One operations and joint ventures, including overseeing four operating uranium mines in Kazakhstan, as well as the start-up of Australia's fourth uranium mine - Honeymoon.

Prior to joining Uranium One, Knode was with Cameco Corporation as director of operations and construction at the Inkai Joint Venture, an in-situ recovery project in Kazakhstan between Cameco and Kazatomprom, Kazakhstan's State owned Uranium entity.

Peninsula Energy executive chairman Gus Simpson said, "Ralph is an experienced uranium industry executive and is well qualified to assume leadership of the Lance Projects as the company transitions to a uranium producer."

The company revealed today it is on track to uranium production from the Lance Projects in Wyoming in 2013, where the resource continues to grow.

High grade results announced during early 2012 has provided a 24.3% increase in the total JORC Resource to 51.5 million pounds of uranium.

Just as important is the increase in the confidence categories, with a 30.7% boost in the Measured and Indicated Resource to 14.7 million pounds of uranium.

Also, the vanadium Resource increased to 4.9 million pounds.

Peninsula's plan for the Lance Projects is to build a 2.18 million pound per year in-situ recovery operation, expanding production to 3 million pounds per year by 2017.