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Additional Information
Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: PEN
Latest Price: A$0.04  (0,00%)
52-week High: A$0.09
52-week Low: A$0.03
Market Cap: A$80.07M
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Peninsula Energy
www.pel.net.au

Peninsula Energy (ASX: PEN) is an emerging ASX listed Uranium producer with assets in the USA and South Africa. The company is focused on advancing the Lance ISR Projects, located in the Powder River Basin, Wyoming USA through to production, and to take the Karoo Projects in South Africa further up the development curve.


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Peninsula Energy receives boost at Ross with NRC review expected ahead of schedule

4th May 2011, 2:37 am

Peninsula Energy (ASX: PEN) has received a boost at the Ross Project in the United States as the Nuclear Regulatory Commission (NRC) has advised the company that the formal safety and environmental acceptance review is underway, and ahead of schedule.

The review is on the Ross In-Situ Recovery (ISR) License Application.

Gus Simpson, executive chairman, said “The confirmation that the NRC expects to complete its acceptance review ahead of schedule is an example of the efficiencies being achieved through the pro-active involvement of Strata and the regulatory bodies during the new streamlined licensing process.”

The NRC has indicated that they expect to complete the acceptance review within 60 days, well ahead of the 90 day statutory period.

Peninsula's said that the company's subsidiary, Strata Energy Inc, the NRC and other regulatory bodies have regularly engaged to facilitate a more efficient review process throughout the licensing process.

This included a 2010 site visit and presubmission review by the NRC of Strata’s license application to identify any major acceptance or technical/environmental review issues in advance.

The acceptance review is performed to confirm the completeness and technical adequacy of the application, and once successfully completed initiates the detailed technical review process, which, based on correspondence from the NRC, is expected to commence prior to 2 July, 2011.

This latest boost to Peninsula at the Ross Project comes hot on the heels of last month’s announcement of the deep disposal well license permits for the company to construct and test five wells in the area.

The permits reflect the quality of the application studies, the licence applications, the ongoing outreach program and the level of acceptability of uranium extraction in Wyoming.

 

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