i think this release is one of political appeasement. All...

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Pat07350

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09/02/21

15:13

Post #: 50830126
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Originally posted by edgemac: ↑

The wording will I think be important and so we need to wait until the Company is fully apprised of the situation and what are the legal implications may be. The announcement by the Minister appears to be a reactionary announcement and could be called Government Policy by Press Release (never good). It is my impression from my research that the final wording has not yet been finalised. I think that this Trading Halt may be for some time until the Government releases the final wording. It may differentiate between Met Coal and Thermal Coal according to some comments.
However it seems that some people in the know in Canada are suggesting that the approved Leases in what was Category 2 land on which ELAN sits (except the cancelled leases which appears to have minimum impact on us) will continue.
One of the key planks of the Category 2 lands is no surface mining. Consequently, there may be a need to modify the mine plan to significantly include underground mining - guess/thought bubble only and I have not gone back to look at the geology yet.
Until we get the Company Announcement we will not know for sure.
If the mine was lost due to random Policy changes then there would be room for massive compensation claims against the Alberta Gov. All in MOHO.

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i think this release is one of political appeasement. All existing approvals will remain but everyone else, bad luck. We need more details but considering the coal is so close to surface I cant see underground mining making much sense

ATU Price at posting: 25.0¢ Sentiment: Buy Disclosure: Not Held
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i think this release is one of political appeasement. All...

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