CEL 7.84% 4.7¢ challenger gold limited

Exploration Licenses on track

  1. 576 Posts.
    lightbulb Created with Sketch. 75
    Even the gropu staunchly opposed to  Fracking ,Treasure the Karoo, concedes licenses are to be issued shortly:

    Fracking licences to be issued before we can see eco impact assessment: TKAG

    The department of minerals is going ahead with plans to issue exploration licences before the release of results of a two-year strategic environmental assessment (SEA) into fracking‚ the Treasure Karoo Action Group (TKAG) said on Monday


    Last month‚ the TKAG cautiously welcomed the announcement of the SEA by science and technology minister Naledi Pandor and environmental affairs minster Edna Molewa‚ saying it was “fundamental step in the appropriate evaluation of shale gas in South Africa‚ and it is a process for which for which we have been calling since 2011”.
    On Monday‚ however‚ the TKAG released a statement headlined “department of minerals tows the Zuma line”.
    “In an unsurprising move‚ the final regulations on ‘petroleum exploration and production’‚ which encompass shale gas exploration and hydraulic fracturing‚ have been published in the government gazette. Draft regulations were initially published in October 2013‚” the TKAG said.
    “Having regard for the fact that (President) Jacob Zuma has in two State of the Nation addresses‚ told South Africa that ‘shale gas will be a game changer’‚ it is hardly surprising that his acolytes will follow through‚ giving effect to his premature and ill-considered declarations‚” said TKAG leader Jonathan Deal.
    He said the regulations are based on a “set of standards published by the American Petroleum Institute – an industry-funded group in the United States”.
    He said the TKAG believes the regulations must be “based on a broad and specialised scientific platform”.
    While Deal acknowledged that the new regulations display “some effort to address shortcomings”‚ they “remain largely inadequate to control an activity which presents the intrinsic risk allied to shale gas exploration and production”.
    “Regulations designed by the oil and gas industry itself will focus on keeping costs down at the expense of environment and community‚” Deal elaborated‚ adding that the TKAG will publish an analysis of the regulations on Friday.
    While the government has adopted the US industry-funded group’s standards‚ TKAG said it “ignores precedent in the US and other countries‚ where full investigations have preceded the granting of even exploration permits”.
    The department of minerals also appears to have overlooked the “lawful requirement of public consultation” and many “communities living in the Karoo are still factually uninformed and thus unaware of the potential implications of shale gas mining on their livelihoods”‚ Deal said.
 
watchlist Created with Sketch. Add CEL (ASX) to my watchlist
(20min delay)
Last
4.7¢
Change
-0.004(7.84%)
Mkt cap ! $72.01M
Open High Low Value Volume
5.0¢ 5.0¢ 4.6¢ $246.5K 5.225M

Buyers (Bids)

No. Vol. Price($)
1 16622 4.7¢
 

Sellers (Offers)

Price($) Vol. No.
4.8¢ 139222 2
View Market Depth
Last trade - 16.10pm 15/11/2024 (20 minute delay) ?
CEL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.