DEIS: We hope to be able to put out news this week - we need an opportunity to review the contents of the DEIS and provide our shareholders with a general assessment of the document.
Virgin River: Basically, it is a first right of offer, which means that if Cameco were to offer any percentage of the project to a third party, they must offer it to us first under no less favourable circumstances. This, in my opinion, is actually a likely scenario: If the project were to advance to the stage where a production decision were to be made, it is very feasible that Cameco would want to bring in a third party to help finance the project (as they have done in the past), in order to help mitigate risk (remember the flooding at Cigar Lake for example) as well as lessen any large cash outlay that would not be viewed as favourable on their financial statements. The third party would take on a percentage of the project in exchange for participating financially to help construct the mine. However, as we have a first right of offer, Cameco would be obliged to offer us an additional 8% before they offered an additional interest to a third party to help finance the project.
NPDES ROD: Theoretically, I believe it is possible. yes, but the NPDES permit is being drafted to come out at the same time as the Final DEIS as it is dependent on the contents of the DEIS.
Near future: Secure a mine permit, secure mine financing, and start mine construction on the Idaho Cobalt Project, as well as advance other projects that we have not been able to concentrate our resources on since the focus has been on the refinery and the Idaho Cobalt Project.
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