PEN 1.08% 9.2¢ peninsula energy limited

Status of Intervenor's Petition for Review, page-14

  1. 13,538 Posts.
    lightbulb Created with Sketch. 2707
    shelcomm - your interpretation is incorrect.

    There is a legal process going on. It commenced late in 2011, when the intervenor's sought legal standing in the assessment of Strata's license application and acceptance of several contentions.

    It is still going on and probably will continue for some time yet.

    The last important decision was on 23 Jan 2015, when ASLB released its Initial Decision in favour of Strata.

    That Initial Decision would have become the Final Decision 120 days later (i.e. on 26 May), in the event that there was no petition of review (within following 25 days).

    There was a petition of review - lodged on 17 Feb.

    Both Strata and the NRC staff filed submissions opposing a review. However these requests were rejected by the Commission.

    The Commission subsequently had 120 days (until 16 June) to finalise its review or to seek an extension at its own discretion, as provided in the NRC Regulations (see below). That's what it has done. It wasn't the intervenors, as you suggest. It was the Commission. Why was 120 days not enough time to review the ASLB's Initial Decision? I have no idea - but as I wrote before, it is food for thought.

    Until the process is over, there is no certainty as to what may happen. The ASLB decision is highly encouraging to Strata, but there is simply no guarantee that it won't be overturned by the Commission. It is unlikely, but it could happen.

    It is a threat to the project commencement timeline, simple as that. How big a threat it is, is for each to judge. The only certainty is that it is NOT a zero threat. It might only be 1% or less or it might be more. Better to be aware of it than bury one's head in the sand.

    § 2.341 Review of decisions and actions of a presiding officer.

    a)(2) Within 120 days after the date of a decision or action by a presiding officer, or within 120 days after a petition for review of the decision or action has been served under paragraph (b) of this section, whichever is greater, the Commission may review the decision or action on its own motion, unless the Commission, in its discretion, extends the time for its review.
 
watchlist Created with Sketch. Add PEN (ASX) to my watchlist
(20min delay)
Last
9.2¢
Change
-0.001(1.08%)
Mkt cap ! $293.2M
Open High Low Value Volume
9.3¢ 9.3¢ 9.1¢ $478.7K 5.181M

Buyers (Bids)

No. Vol. Price($)
1 200000 9.2¢
 

Sellers (Offers)

Price($) Vol. No.
9.3¢ 384530 2
View Market Depth
Last trade - 16.10pm 01/11/2024 (20 minute delay) ?
PEN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.