Great news! Another milestone is achieved. The closer we get to production, the higher the market cap should move. Market cap is around A$15million versus NPV of project of A$189million. Lots of other milestones ahead and the need for financing but still very positive news.
PERTH, Western Australia, Oct. 9, 2013 (GLOBE NEWSWIRE) -- via PRWEB - Anatolia Energy Limited (the "Company") is pleased to announce that Operation Licences for the Temrezli Uranium Project have been granted by the Turkish General Directorate of Mining Affairs, the agency within the Ministry of Energy and Natural Resources responsible for mine permitting. The Operation Licences cover all previous Exploration Licence areas that contain the Company's high grade Temrezli uranium deposit, and are valid for a minimum of 10 years. The Licences will enable the Company to construct the ISR well field and processing plant upon issue of an Operation Permit, typically granted within 14 days of application. The application for an Operation Permit will occur shortly after the submission of the Environmental Impact Assessment that the Company commenced in 2010, and will follow the granting of the relevant property and business permits. The Company has commenced a substantial program of work to be completed over the next 10 months, including refined metallurgical and hydrological studies, and a significant in-fill and step out drilling program to be incorporated into a Pre-Feasibility Study. Upon completion of the Pre-Feasibility Study, it is expected that a development decision will be made. Commenting on the granting of the Operation Licences, Anatolia's Managing Director, Jim Graham, said "The granting of the Operation Licences is a major permitting milestone for the Temrezli Uranium Project. We have developed a solid working relationship with the Ministry of Energy and Natural Resources, working cooperatively to advance the Turkish uranium industry. The significance of the Operation Licences should not be understated. These are the first Operation Licences for a uranium project in Turkey, and, on the back of our recent capital raising, stand the Company in good stead to bring Temrezli into production in early 2016." This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2013/10/prweb11207198.htm
