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Article from yesterdays Wyoming Business Report.

Got to say pretty positive scribe.

toot toot! full steam ahead !

Uranium project could commence ops in 2014
By Mark Wilcox April 8, 2014
GILLETTE – The developers of the Lance Uranium Project in the Powder River Basin of northeast Wyoming are saying the project could begin operating by the second half of 2014.

Peninsula Energy Limited, an Australia-based company operating as Strata Energy Inc. in Wyoming, announced the news Tuesday, saying it is nearing closure on some final loopholes. In March, the company said it had received its final supplemental environmental impact statement – a major hurdle for any developer to clear before beginning production.

In early March, the company said it expected to receive a Source and Byproduct Material License from the NRC by the end of the month. That permit allows the company to “own, receive, possess, use, transfer, provide for long-term care, deliver or dispose of byproduct material or residual radioactive material … or any source material after removal from its place of deposit.”

Now, however, the timelines have shifted back. The company says it should receive the license “shortly.”

According to a release, the Lance Projects in Wyoming contain about 53.7 million pounds of uranium, with exploration potential of between 158 and 217 million pounds more.

Strata could produce as much as 2.3 million pounds of yellowcake per year from the project, although it will take $146 million in capital to reach steady production. The company has already spent $68 million to reach its current plateau. The company expects the enterprise to begin making money by the end of 2015.

For a more complete recap of uranium developments in the state, watch for Wyoming Business Report’s Energy Book, coming in April.