Perhaps I was grasping at straws slick239. My point was the...

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buc

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28/09/16

17:50

Post #: 19485527
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Originally posted by slick239 ↑

Grasping at straws, buc?

From WUC's 8/15/16 MD&A:

"During the second quarter of 2016, the Company canceled certain of its coal mining leases in Alaska. As part of that cancellation Alaska notified the Company that during the third quarter of 2016, its reclamation deposit would be forfeited. During the three months
ended June 30, 2016, the Company accreted $174,412 to accrete its reclamation liability to its fair value."

A more pertinent question might be, why hasn't the CDPHE announced its determination regarding regulation of the ablation process? The expectation has been that the CDPHE would issue a statement 60 days after the public comment period ended on July 22.

In fact, WUC claimed in a SEC filing that "Within 60 days after that date (July 22, 2016), the CDPHE is required to make a ruling on the application." The problem is that WUC did not submit an application to operate the ablation technology, as the SEC filing asserts. WUC simply filed responses to technical questions from the CDPHE.

There is currently no definitive licensing requirement for ablation in Colorado statutes or regulations. The CDPHE is trying to determine whether ablation is even subject to its jurisdiction, and if so, does it fall under existing licensing rules, or should new rules be developed.

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Perhaps I was grasping at straws slick239.

My point was the Jonesville coal project is an asset and if thermal coal can go to $100/tonne, it could have some resale value.

Last edited by buc: 28/09/16

BLR Price at posting: 0.2¢ Sentiment: Buy Disclosure: Held
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