- Joined
- 30 November 2011
- Posts
- 15
- Reactions
- 0
PEN - Peninsula Energy
- Thread starter dingos
- Start date
-
- Tags
- pen peninsula energy
$70 MILLION INDUSTRIAL REVENUE BOND FOR LANCE PROJECTS WINS
UNANIMOUS CROOK COUNTY COMMISSION SUPPORT
Peninsula Energy Limited (PEN) is pleased to announce a significant step forward in project
financing for its Lance Projects in Wyoming, USA.
The Crook County Board of Commissioners voted unanimously on Tuesday to provide
authorization to proceed toward the issuance of the Crook County Wyoming Industrial
Development Revenue Bonds in the amount of $70 million to partially fund development of
the Lance Projects.
The Bond funding is allocated under the Industrial Development Projects Act (IDPA)
(Wyoming Statute 15-1-7), which allows cities and counties in Wyoming to issue Bonds to
promote economic growth within the state, and to create jobs for in-state residents.
The Bond program is funded up to $600 million through the state Permanent Mineral Trust
Fund at an interest rate equal to the present rate of return for the Fund. The County acts as
the issuing authority and has recommended purchase of the Bonds to the Wyoming
Business Council (WBC), which will conduct a thorough due diligence review of the
application.
Upon successful WBC review, the application will proceed to approval by the State
Attorney General, State Treasurer, and ultimately the Governor.
In requesting the County’s support, Strata was required to demonstrate that the Lance
Projects provide a clear and factual economic benefit to the County and local
communities in four key areas:
● Creating new or additional employment opportunities;
● Expanding the tax base and increasing sales, property or other tax revenues to the
County;
● Maintaining and promoting a stable, balanced and diversified economy among
agriculture, natural resource development, business, commerce and trade; and
● Promoting or developing use of agricultural, manufactured, commercial or natural
resource products within or without the state.
The $70 million in requested Bonds represents 47% of the $148.1 million required to construct
the Lance Projects Central Processing Plant, CPP expansion, Satellite Ion Exchange Plant
and initial well-field development.
In addition to the Bonds above, the Company continues to advance several
complimentary debt funding opportunities which are progressing on schedule and
according to plan.
UNANIMOUS CROOK COUNTY COMMISSION SUPPORT
Peninsula Energy Limited (PEN) is pleased to announce a significant step forward in project
financing for its Lance Projects in Wyoming, USA.
The Crook County Board of Commissioners voted unanimously on Tuesday to provide
authorization to proceed toward the issuance of the Crook County Wyoming Industrial
Development Revenue Bonds in the amount of $70 million to partially fund development of
the Lance Projects.
The Bond funding is allocated under the Industrial Development Projects Act (IDPA)
(Wyoming Statute 15-1-7), which allows cities and counties in Wyoming to issue Bonds to
promote economic growth within the state, and to create jobs for in-state residents.
The Bond program is funded up to $600 million through the state Permanent Mineral Trust
Fund at an interest rate equal to the present rate of return for the Fund. The County acts as
the issuing authority and has recommended purchase of the Bonds to the Wyoming
Business Council (WBC), which will conduct a thorough due diligence review of the
application.
Upon successful WBC review, the application will proceed to approval by the State
Attorney General, State Treasurer, and ultimately the Governor.
In requesting the County’s support, Strata was required to demonstrate that the Lance
Projects provide a clear and factual economic benefit to the County and local
communities in four key areas:
● Creating new or additional employment opportunities;
● Expanding the tax base and increasing sales, property or other tax revenues to the
County;
● Maintaining and promoting a stable, balanced and diversified economy among
agriculture, natural resource development, business, commerce and trade; and
● Promoting or developing use of agricultural, manufactured, commercial or natural
resource products within or without the state.
The $70 million in requested Bonds represents 47% of the $148.1 million required to construct
the Lance Projects Central Processing Plant, CPP expansion, Satellite Ion Exchange Plant
and initial well-field development.
In addition to the Bonds above, the Company continues to advance several
complimentary debt funding opportunities which are progressing on schedule and
according to plan.
"The spot market price of uranium is now below $41/lb U3O8, according to price publishers TradeTech and Ux Consulting.
And given continued bearish sentiment in the market, some analysts are not ruling out the possibility that the spot price could fall $40/lb before the end of the year. UxC said that the price has not been $40/lb since March 2006."
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8889209
And given continued bearish sentiment in the market, some analysts are not ruling out the possibility that the spot price could fall $40/lb before the end of the year. UxC said that the price has not been $40/lb since March 2006."
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8889209
I am happy for PEN holders that the IRB talk has strengthened the share price . . . . . . . . . . it is great for traders . . . . . . and I would imagine the good ones have already packed up their profits and left.
When company's need more capital via debt or equity raisings, they usually employ various techniques to help the share price rise in the preceding period, closely followed by the news that they will be offering more shares . . . . . usually at a discount to the prevailing price.
This is not a bad thing if a company has found it's resource and had in JORC'd ( M & I ), and there is something tangible to move forward with . . . . . . . . however I hate to sound like a proverbial broken record BUT, in all the latest excitement about IRB's, a few have forgotten that the company has still yet to release a JORC ( M & I ) that meets it's own DFS/PFS resource guidelines.
These are not MY guidelines they are the company's . . . . . . . . . . . so why is it taking so long to get all that U they keep finding ( @ high grade ) into the existing JORC ( M & I ) . . . . . . . . . . . . surely the resource takes precendence over financing at this stage of the project.
Mining is about grade and profitability . . . . . . . . . . financing won't find more U for the JORC.
Maybe someone can enlighten us on why the company's own JORC cutoff has not yet been achieved in a Uranium province.
Facts only please . . . . . . . . Remember, even Ronald McDonald has an opinion.
GT 86
When company's need more capital via debt or equity raisings, they usually employ various techniques to help the share price rise in the preceding period, closely followed by the news that they will be offering more shares . . . . . usually at a discount to the prevailing price.
This is not a bad thing if a company has found it's resource and had in JORC'd ( M & I ), and there is something tangible to move forward with . . . . . . . . however I hate to sound like a proverbial broken record BUT, in all the latest excitement about IRB's, a few have forgotten that the company has still yet to release a JORC ( M & I ) that meets it's own DFS/PFS resource guidelines.
These are not MY guidelines they are the company's . . . . . . . . . . . so why is it taking so long to get all that U they keep finding ( @ high grade ) into the existing JORC ( M & I ) . . . . . . . . . . . . surely the resource takes precendence over financing at this stage of the project.
Mining is about grade and profitability . . . . . . . . . . financing won't find more U for the JORC.
Maybe someone can enlighten us on why the company's own JORC cutoff has not yet been achieved in a Uranium province.
Facts only please . . . . . . . . Remember, even Ronald McDonald has an opinion.
GT 86
PENINSULA RECEIVES DRAFT SOURCE MATERIALS LICENSE
Peninsula Energy Limited (Peninsula) is pleased to announce that the U.S. Nuclear Regulatory
Commission (NRC) has issued a draft Source and 11e.(2) Byproduct Materials License (SML) to
wholly-owned subsidiary Strata Energy Inc (Strata). This issuance marks a major milestone in
Strata’s progress toward approval of the application and issuance of a final Source Material
License for the Ross ISR Project.
The NRC’s on-schedule issuance of the draft SML demonstrates that the project is technically
sound and that the approaches to public and environmental safety outlined in the application
were robust. The issuance of the draft SML in less than two years after application submission
reflects a significantly accelerated schedule over the applications of others in the industry,
which have averaged 3 years or more in receiving draft licenses. Achieving this milestone on
schedule and ahead of industry standard is indicative of the completeness of Strata’s
application and the efficiency of the streamlined regulatory approval process.
To receive NRC approval, an application must complete three review processes: acceptance
review (completed 6/28/11); safety review, resulting in a Safety Evaluation Report (SER); and
concurrent environmental review, resulting in a Supplemental Environmental Impact Statement
(SEIS).
Issuance of the draft SML follows acceptance and detailed technical review of Strata’s
responses to Requests for Additional Information (RAI) on both the safety and environmental
portions of the application. The draft SML also confirms regulatory bounding conditions upon
which the project economics have been based.
Granting the draft SML on schedule represents a significant commitment by the NRC to timely
application review. The draft SML is a key step toward finalization of the SER for the Ross
application, targeted for completion by the end of February 2013. Once the SER is finalized,
Strata and NRC Staff can focus exclusively on completing the environmental review.
Strata now have 30 days to review the draft SML and provide suggested changes as part of the
continued progression to the final SER and SEIS.
Peninsula’s Executive Chairman Mr. Gus Simpson said “The Company is very pleased to receive
the draft SML on schedule from the NRC and acknowledges the streamlined regulatory
approval process that is now in place and working well.”
Unit 17, Level 2, 100 Railway Road, Subiaco WA 6008 PO Box 8129, Subiaco East WA 6008
Phone: +61 (0)8 9380 9920 Fax: +61 (0)8 9381 5064
Peninsula Energy Limited - ABN: 67 062 409 303
The issuance of the final SML, together with the Wyoming Department of Quality (WDEQ) Permit
to Mine (PTM) and Deep Disposal Well (DDW) License, are the three key regulatory permits
required for the development and commencement of a commercial ISR mining operation at
the Ross Project.
Strata was granted the DDW license in April 2011 and the PTM from the WDEQ is expected
shortly. On receipt of the PTM the Company plans to commence construction, along with the
ordering of long lead items, whilst awaiting the final SML.
Peninsula Energy Limited (Peninsula) is pleased to announce that the U.S. Nuclear Regulatory
Commission (NRC) has issued a draft Source and 11e.(2) Byproduct Materials License (SML) to
wholly-owned subsidiary Strata Energy Inc (Strata). This issuance marks a major milestone in
Strata’s progress toward approval of the application and issuance of a final Source Material
License for the Ross ISR Project.
The NRC’s on-schedule issuance of the draft SML demonstrates that the project is technically
sound and that the approaches to public and environmental safety outlined in the application
were robust. The issuance of the draft SML in less than two years after application submission
reflects a significantly accelerated schedule over the applications of others in the industry,
which have averaged 3 years or more in receiving draft licenses. Achieving this milestone on
schedule and ahead of industry standard is indicative of the completeness of Strata’s
application and the efficiency of the streamlined regulatory approval process.
To receive NRC approval, an application must complete three review processes: acceptance
review (completed 6/28/11); safety review, resulting in a Safety Evaluation Report (SER); and
concurrent environmental review, resulting in a Supplemental Environmental Impact Statement
(SEIS).
Issuance of the draft SML follows acceptance and detailed technical review of Strata’s
responses to Requests for Additional Information (RAI) on both the safety and environmental
portions of the application. The draft SML also confirms regulatory bounding conditions upon
which the project economics have been based.
Granting the draft SML on schedule represents a significant commitment by the NRC to timely
application review. The draft SML is a key step toward finalization of the SER for the Ross
application, targeted for completion by the end of February 2013. Once the SER is finalized,
Strata and NRC Staff can focus exclusively on completing the environmental review.
Strata now have 30 days to review the draft SML and provide suggested changes as part of the
continued progression to the final SER and SEIS.
Peninsula’s Executive Chairman Mr. Gus Simpson said “The Company is very pleased to receive
the draft SML on schedule from the NRC and acknowledges the streamlined regulatory
approval process that is now in place and working well.”
Unit 17, Level 2, 100 Railway Road, Subiaco WA 6008 PO Box 8129, Subiaco East WA 6008
Phone: +61 (0)8 9380 9920 Fax: +61 (0)8 9381 5064
Peninsula Energy Limited - ABN: 67 062 409 303
The issuance of the final SML, together with the Wyoming Department of Quality (WDEQ) Permit
to Mine (PTM) and Deep Disposal Well (DDW) License, are the three key regulatory permits
required for the development and commencement of a commercial ISR mining operation at
the Ross Project.
Strata was granted the DDW license in April 2011 and the PTM from the WDEQ is expected
shortly. On receipt of the PTM the Company plans to commence construction, along with the
ordering of long lead items, whilst awaiting the final SML.
PEN Lance resource upgrade announcement is due in December. Watch this space.
hangseng
Gong Xi Fa Cai
- Joined
- 19 March 2007
- Posts
- 1,069
- Reactions
- 2
Here is a fact for you that you should go and comment on your beloved ex market darling BLR.
No comment on the BLR thread on the capital raising that sent the BLR sp plunging yesterday?
The market has spoken on this once traders market darling, falling from over $0.30 to now be a sub $0.01 totally out of favour dog ramped on little more than hot air....but the balloon has finally burst.
PEN on the other hand, canned by many BLR posters here and elsewhere, now successfully advancing toward full funding and permitting as I always believed it would.
BLR has a lot of catching up to do with sentiment now at an all time low.
Yes what is the better stock? The one with a resource going nowhere, or the one with a smaller but steadily increasing resource advancing into funding and permitting over the next year?
Ramp all you like buc, The market has spoken...that is a fact and the BLR of sub 1c is very real. Not even the forum hot air can hold it up anymore.
Neither, leave it in the ground...or have you conveniently forgotten Fukushima?
"If an earthquake or other event were to cause this pool to drain, this could result in a catastrophic radiological fire that could wipe out most of the northern hemisphere; certainly it would be a massive civilization-breaking event some are suggesting.
...we are at risk for something in the order of the 85 times the radiation of Chernobyl and I hear it could be much worse than that because of the plutonium factor."
http://www.opednews.com/populum/linkframe.php?linkid=158548
The Intellihub.com , and I thought the National Enquirer was the biggest load of made up garbage ever published. This site makes the Enquirer look like a bunch of Pulitzer prize winning journalists.
Four days on and price follows the RSI below it's uptrend line.
Sell signal confirmed by the bearish MACD crossover.
Short term bearish rectangle measured move target = 3.5c
Gap @ 3.7c
Here's a couple of "major Uranium miner" charts. Outstanding...
The "Exciting times" for uranium investors were six years ago!
The "Exciting times" for the rest of us include Three Mile Island, Chernobyl and Fukushima...
Another box ticked. This company will be mining in 12-18 months despite the protests of the green scaremongers.
22 November 2012
Companies Announcement Of f ice
Via Elect ronic Lodgement
PENINSULA RECEIVES PERMIT TO MINE
Peninsula Energy Limited (PEN) is pleased to announce that the Wyoming Department of
Environmental Quality (WDEQ) has granted a Permit to Mine (PTM) to wholly-owned subsidiary
Strata Energy Inc (Strata) for the Ross Production Unit. The completion of this licensing action
concludes a major milestone in advancing the Lance Projects towards production.
The WDEQ notified Strata in August 2012 that the application complied with all WDEQ
requirements and was deemed complete, thereby initiating the final public review process for
the PTM.
The PTM is the second of three licenses required for advancement of the Lance Projects. The
first license was the Deep Disposal Well (DDW) license granted in April 2011. The final license
required before commencement of production is the Combined Source and 11e.(2)
Byproduct Material License (SML) issued by the US Nuclear Regulatory Commission. Strata
received a draft SML for the Ross Production Unit in early November 2012, a month ahead of
projections.
Having concluded the PTM licensing process, Strata may now focus its entire permitting efforts
on completing the SML application process.
Within the coming weeks, Strata will commence allowable construction (pre the SML license)
at the Lance Projects, including the development of deep disposal wells, monitoring wells and
CPP site and civil works.
Peninsula Executive Chairman Mr. Gus Simpson stated “With the issuance of the WDEQ Permit
to Mine, the Lance Projects continue to gain momentum toward production. Yet again, the
project team and regulatory authorities have achieved a significant project milestone on time
and without issue.”
- Joined
- 1 October 2008
- Posts
- 3,733
- Reactions
- 391
That's all terrific but with PDN, a urnanium miner in production having come down from $10.80 to .80c and ERA a uranium miner in production and sitting on one of the biggest deposits yet discovered, having come down from $18 to $1.20. Uranium, on the back of global crisis and also being out of favour; getting a mine up in 12 to 18 months’ time with probable blowouts is hardly something to get excited about.
PDN also commented a couple of months ago that uranium is not expected to turn around for 10 years.:22_yikes:
God knows why you'd wanna be in this!
PDN also commented a couple of months ago that uranium is not expected to turn around for 10 years.:22_yikes:
God knows why you'd wanna be in this!
After such a magnificent announcement from PEN, here are the results of today's trading...
PEN - Flat
BLR - Up 29%
"out of favour dog ramped on little more than hot air"
:It appears a bearish head & shoulders reversal is imminent
A close below 4.0 will be confirmed by a bearish drop below 50 for the RSI
The head & shoulders measured move will target recent support @ 2.5c
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,400
- Reactions
- 6,317
A close below 4 will mean the lagging indicator RSI will fall below the 50 line.
Closes are wider than rises.
It confirms nothing.
Are you sure its an imminent head and shoulders.
I could swear its a flying pig!!
The only thing thats confirming anything is supply.
If it dries up it will rise.
Continues it will fall.
Support at 4c
No lag whatsoever. Check the recent buy signal confirmed by the RSI on the same day when it crossed above 50
Support @ 4c on my charts too
While 35% of Fukushima's children have acquired thyroid growths 20 millimeters or smaller...
Madness!
http://www.ww4report.com/node/11715
