Thursday, November 22, 2012

Peninsula Energy Granted Permit To Mine For Ross Uranium Project - Wyoming USA

Published on Thursday November 22 2012 (AEST)  

The Wyoming Department of Environmental Quality (WDEQ) granted the Permit to Mine for the Ross Production Unit to wholly-owned subsidiary Strata Energy. Strata received the first licence, the Deep Disposal Well licence, in April 2011. 

The final licence required before commencement of production is the Combined Source and 11e.(2) Byproduct Material Licence issued by the U.S. Nuclear Regulatory Commission. Strata received the draft Source Material Licence for the Ross Production Unit in early November 2012, a month ahead of projections. Having concluded the Permit to Mine licensing process, Strata can now focus its entire permitting efforts on completing the Source Material Licence application process. Within the coming weeks, Strata will begin allowable construction, prior to receiving the final Source Material Licence, at the Lance Projects. 

This will include the development of deep disposal wells, monitoring wells and central processing plant site and civil works. Simpson told Proactive Investors today effectively the pre-Source Material Licence construction will shorten the entire time to production. “The risk for us going to production is dramatically reduced by the grant of these licences.” Peninsula Energy (ASX: PEN) has marked a milestone today in its rapid advance towards production at its Lance Projects with the granting of a Permit to Mine for the Ross Production Unit. This is the second of three licences required for the advancement of the Lance Projects to production, which is targeted for the second half of 2013. 

Gus Simpson, executive chairman, commented: “With the issuance of the WDEQ Permit to Mine, the Lance Projects continue to gain momentum toward production. “Yet again, the project team and regulatory authorities have achieved a significant project milestone on time and without issue.” 

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