GTI Energy confirms board changes

Nathan Lude has stepped down as chair and a director of GTI Energy, following five years with the uranium aspirant.

Along with Mr Lude’s departure, GTI confirmed it has appointed former Cameco Australia general manager Simon Williamson as a non-executive director.

Mr Williamson spent 13 years at Cameco, which is the second largest annual producer of uranium in the world, behind Kazakhstan-based Kazapromtom.

His arrival comes at a time when the North Perth-based junior, which has multiple uranium assets in the US, is determined to capitalise on recent political legislation likely to benefit the sector.

Last month, US president Joe Biden signed into law the banning of Russian uranium imports from 2028 – a country which as of two years ago, accounted for 12 per cent of America’s annual intake of the commodity.

GTI executive director Bruce Lane said Mr Williamson would be a welcomed addition to the company.

“We are delighted to secure Simon’s services as a director,” he said.

“He brings a wealth of highly relevant technical, governance and commercial experience in addition to his significant industry relationships.

“Simon’s appointment strengthens the boards uranium project development capability, and we expect his input to be invaluable as we accelerate development at the Company’s flagship Lo Herma project.”

Next month, GTI plans to begin its 2024 drilling program at Lo Herma, located in the American state of Wyoming.

The program will include 71 drill hole locations, along with the construction of up to five groundwater monitoring wells.

Once completed, GTI plans to publish an updated mineral resource estimate for the project, coupled with an exploration target range.

Longer-term, it is expected the junior will also finalise a scoping study in order to outline the economic benefits of Lo Herma.

The present uranium spot price is $US88.75 per pound.