NickelX appoints new MD to oversee uranium exploration

Special report: NickelX hires new managing director Peter Woods as the company looks to consolidate its focus on uranium and gold exploration.

NickelX (ASX:NKL) is looking to add shareholder value across its portfolio of projects in Canda and WA as it transitions away from nickel.

Its main game, the Elliot Lake project, was acquired in February and represents a potential company maker-type opportunity, only a stone’s throw from the world largest uranium refinery at Cameco’s Blind River.

The project hosts recorded uranium mineralisation in large scale formations, is accessible year-round by road and benefits from substantial infrastructure networks.

“Unrealised potential”

NKL is currently carrying out a company-wide strategic review and assessing near term opportunities in its focus to double down on uranium and gold exploration.

“I am delighted to announce the appointment of Pete Woods to the role of managing director as NickelX plans to advance its exciting uranium and gold portfolio,” NKL chairman Jonathan Downes says.

“With a tight capital structure of only ~88M shares on issue, NickelX represents a leveraged opportunity to add shareholder value as the projects deliver exploration results and the company assesses other potential strategic opportunities with the aim of creating shareholder value.

“This appointment represents a transition away from nickel exploration and into the unrealised potential of the Elliot Lake Uranium Project.”

Experienced uranium executive

Woods has extensive ASX board level experience across various industries and geographies, including significant resources exposure.

With over 15 years’ experience in the financial services industry specialising in corporate finance, capital markets, and project generation, he has successfully managed and raised capital for both unlisted and listed companies.

He has recently listed a North American uranium focussed exploration company he founded – Uvre (ASX:UVA) – and has strong capabilities in generating strategic opportunities, business development and driving growth for early-stage companies.

This article was developed in collaboration with NickelX, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.