Yes, Mr. Glasier offered good insights into the current uranium market. However, his claim that no capital expenditures are needed to commence production seems overly optimistic. Granted, capex to process aboveground stockpiles at the SMC would generally be low, but at least 2-3 ablation machines and related crushers, conveyors, mix tanks, filters, centrifuges, and filter presses would be needed, not to mention basic infrastructure upgrades.
WUC's ablation information submitted to the CDPHE for its permitting determination is predicated on ablation being conducted underground. One of WUC's arguments is that underground deployment of ablation demonstrates that ablation is mining and not milling. However, Mr. Ecclestone's report states that WUC's goal is to ablate surface stockpiles first, and then later move on to underground processing, where three more ablation machines will be required.
Mr. Glasier also said WUC has seven permitted mines. The five SMC mines have state reclamation permits, all on temporary cessation status. The SMC mines require a new BLM permit and environmental assessment, and the jury is still out on whether ablation will require a radiation control/source material or milling license from the state of Colorado. None of this was discussed in the interview.
The other two "permitted" mines may be a reference to Hansen-Taylor Ranch. Permit applications have yet to be submitted for Hansen-Taylor Ranch.
BLR Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
