Would expect a lift on this news, then perhaps a downward trend until the federal environmental approval is given in a month or two.
The good news is that these environmental assessments are done under a bilateral agreement between the states and feds and therefore the path to federal sign off should be quite straight forward.
Once the approvals are in for the final setup then we can get serious about project financing. Will need the recent positive U price moves to continue however.
Ann: Trading Halt, page-19
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