Previous to this appointment, Dr Penney was Executive Director and Chief Executive Officer of NGM Resources Limited (ASX:NGM), a diversified mineral exploration company with a focus on uranium and base metals.
During his 4 years at NGM, Dr Penney led the team that acquired and advanced uranium and nickel exploration projects in three African nations. Dr Penney has a PhD in geology and a BA from Trinity College Dublin University and has conducted research at Oxford and Melbourne Universities.
Dr Penney has worked for a number of larger mining companies including Placer Dome (now part of Barrick Gold), Pasminco (later becoming Zinifex), BP Minerals and CSIRO Exploration and Mining.
Commenting on the appointment, UXA Chairman Mr Neill Arthur said, "We are excited to have Dr. Penney lead the UXA team, given his experience and depth of industry knowledge. He has a proven track record in mineral discovery, having run advanced uranium exploration teams, played a significant part in discovering the 14Mt Duddar zinc deposit in Pakistan, and the Mount Olympus gold deposit in W.A, which no doubt will benefit the company as we advance our $10 million exploration programmes."
Dr Penney replaces Patrick Mutz as Managing Director of UXA. Mr Mutz will be available on a consulting basis for a limited time to assist the new Managing Director in the smooth transition and in bedding down the proposed acquisition of GAA.
About UXA Resources Limited
UXA Resources Limited (ASX:UXA) is a publicly listed active base metal and uranium explorer in Australia and owner of the independently managed borehole wireline logging company, Geoscience Associates Australia Pty Ltd (GAA), provider of the unique Prompt Fission Neutron (PFN) device, a sophisticated tool for directly measuring uranium in boreholes.
UXA Resources Limited
NGM Resources Limited