I agree, The Company could do nothing more than they did in suspending trading as soon as the Alberta Government made their statement and whilst the Government sorts out public consultation on a revised policy.
Below is the Reinstatement Order.
It does not revoke current approvals.
It covers new approvals (which in the future could mean Mining Licences for Elan but it does not cover the already issues Exploration Licence).
It does say no new exploration licences in Category 2 lands
It does say no removal of mountain tops.
So right now the stock trading has ceased but that does not stop ATU from continuing its exploration work or from continuing environmental assessments. It will likely delay the development of the mining plan until the company knows the implications.
In short the Company would I think be continuing its current work program plus a higher level of discussion/negotiation with the Alberta Government.
We are moving into spring and during & after the melt work can and I suggest will continue until the clarification of the specific implications for the project are understood. As I have said before this may take some time. If the Government recinds the exploration licence there will be massive claims made against the Alberta Government so I do not expect that to happen (just my opinion). The most likely outcome in my view will be more stringent environmental conditions.
The big unknown is what the implication may be when consultation is complete and the new policy enacted. Thus trading should not recommence until that time and the implications can be fully spelt out for the market..
It is not the time for panic and all we can do is wait - you cannot sell even if you wanted to!
Edgemac
(20min delay)