Energy Fuels Responds to Recent News Articles Regarding NRC Comments on Colorado Licensing Procedures
March 15 2012 - 12:02PM
Marketwired
Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") has
learned of several news stories that have been published recently
about our Pinon Ridge Uranium and Vanadium Mill, proposed for
Western Colorado. The Company wishes to clarify the facts and
address any misleading statements in the media.
The NRC recently sent two letters inquiring into the State of
Colorado's public hearing process for the licensing of uranium
mills. The NRC indicated that Colorado's laws and regulations may
not be consistent with federal procedures as it relates to public
involvement. Colorado and the Company vigorously dispute this
contention. In addition, the NRC mistakenly indicates that Colorado
has agreed to hold another public hearing on the matter. Colorado
has not agreed to any such course of action.
Colorado is an "Agreement State" whereby the sole authority for
the licensing of uranium mills was granted to the state by the NRC
itself, and continues to reside with Colorado. The NRC has no
jurisdiction or authority to issue, amend, or revoke mill licenses
in Colorado, including the license for Pinon Ridge. The NRC's
primary remedy is to work with Colorado to correct any perceived
deficiencies in Colorado's laws and regulations. While the Company
and Colorado dispute that any deficiencies exist, these corrections
would only apply to future radioactive materials licenses issued by
Colorado, and not past actions like the approval of the Pinon Ridge
Mill.
According to an article in the Telluride Watch, NRC spokesman
David McIntyre "dismissed concerns that the NRC might intervene in
the mill's approval process and 'take over' ...." McIntyre
continued, "(w)e don't intend to intervene or overturn (the)
decision."
In conclusion, very little has actually changed on the licensing
of the Pinon Ridge Mill. The license remains in full force and
effect. The State of Colorado and Energy Fuels continue to
vigorously defend the license in State District Court.
About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium
mineral development company. The Company recently acquired Titan
Uranium Inc., including the Sheep Mountain Project in the Crooks
Gap District of Wyoming. The Company also received a Final
Radioactive Materials License from the State of Colorado for the
proposed Pinon Ridge Uranium and Vanadium Mill in March 2011. The
mill will be the first uranium mill constructed in the United
States in over 30 years.
With about 61,000 acres of highly prospective uranium and
vanadium properties located in the states of Colorado, Utah,
Arizona, Wyoming, and New Mexico, and exploration properties in
Saskatchewan's Athabasca Basin totaling approximately 32,000
additional acres, the Company has a full pipeline of additional
development prospects. Energy
Fuels, through its wholly-owned subsidiaries, Energy Fuels
Resources Corporation, Titan Uranium Inc., and Magnum Uranium
Corp., has assembled this property portfolio along with a first
class management team, including highly skilled technical mining
and milling professionals based in Lakewood and Naturita, Colorado
and Kanab, Utah.
This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended and "Forward Looking Information"
within the meaning of applicable Canadian securities legislation.
All statements, other than statements of historical fact, included
herein are forward-looking statements and forward-looking
information that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time-to- time
with the British Columbia, Alberta and Ontario Securities
Commissions.
Contacts: Energy Fuels Inc. Gary Steele Investor Relations (303)
974-2140 or Toll free: 1-888-864-2125 Energy Fuels Inc. Curtis
Moore Corporate Communications (303) 974-2140 or Toll free:
1-888-864-2125investorinfo@energyfuels.com www.energyfuels.com
Energy Fuels (TSX:EFR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Energy Fuels (TSX:EFR)
Historical Stock Chart
From Jul 2023 to Jul 2024