Peninsula Energy meets another milestone for Lance uranium projects with early issue of RAIs

Peninsula Energy (ASX: PEN) is encouraged by the US Nuclear Regulatory Commission’s (NRC) early issue of Requests for Additional Information (RAIs) to support its environmental and technical review of wholly owned subsidiary Strata Energy’s application for a Source and 11(e).2 Byproduct Material License.

Peninsula executive chairman Gus Simpson said, “We believe that the low number of RAIs and their early issuance are a further demonstration of the NRC’s proactive approach to the permitting process and to the quality of the application documents prepared by the Strata team.

“All in all it’s a credit to the parties involved”.

The RAIs were issued ahead of NRC’s schedule and were significantly less in number than have typically been expected.

This is believed to be due to the comprehensive nature of the original application submitted by Strata.

Early issuance of the RAIs marks another significant milestone in the overall process and a speedy response is expected to have a positive impact on the permitting schedule.

The Strata permitting team has anticipated the content of most RAIs and have already begun the work necessary to lodge detailed responses within a shortened time frame.

Earlier this month Strata was given the green light by the NRC to begin deep disposal well testing of subsurface conditions at the Lance uranium projects in Wyoming ahead of its original schedule. 

The NRC advised the company it considered the testing to be exploration, and drilling could begin without further approval.

Importantly, testing could see flow rates at the upper limits of expectation that would lead to significant capital expenditure reductions at the Lance Projects.

Construction and operation of up to five underground injection control Class 1 wells at the Lance Central Processing Plant site was approved by the Wyoming Department of Environmental Quality in April 2011.

The NRC has confirmed that Strata can, upon the issue of the Source Material Licence, apply to have the test deep disposal well converted for operations.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24660/peninsula-energy-meets-another-milestone-for-lance-uranium-projects-with-early-issue-of-rais--24660.html