Thanks to cait, we now know that the Aoyon Ashraf article came from WUC's investor relations office, which happens to be the office of Baobab Asset Management and WUC director Russell Fryer. The article has yet to be published online, much less posted on a Bloomberg site.
It's hard to believe that Mr. Glasier told Ashraf that production from the Sunday Mine Complex could start within about 30 days if uranium prices reach the mid-30s. Considerable permitting work still needs to be done on the five-mine complex. For instance, the U.S. Bureau of Land Management is requiring a new environmental assessment for the complex.
The Colorado Division of Reclamation, Mining and Safety requires permit amendments for the use of ablation processing at the five mines.
Most significantly, the Colorado Department of Public Health and Environment is in the middle of a stakeholder process which will determine any radiation control/source material licensing required for the ablation technology. The outcome of this process is anyone's guess.
Production water from the ablation process will require disposal, potentially requiring permitting from Colorado or perhaps the U.S. Environmental Protection Agency (underground injection control permit).
In addition to permitting, WUC has apparently not built the ablation machines that would be deployed at the SMC. The Hallgarten research report states that initially 2-3 ablation machines would be used to process SMC ore stockpiles, and that each ablation machine would take 60-90 days to build.
Surely Mr. Glasier did not make this 30-day startup claim; Mr. Ashraf must have misquoted him.
BLR Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
