Showing posts with label uranium. Show all posts
Showing posts with label uranium. Show all posts

Tuesday, October 23, 2012

URZ finally gets it Wel Permit for Uranium mine production! .56 + .07

 
 
URZ Long anticipated news for them hearing....
 

Uranerz Energy Corp. (URZ)

-NYSE MKT
 
Stabbing intraday highs / Extending focus in light of news/technicals...
9:01AM Uranerz Energy receives deep disposal well permit (URZ) 1.50 : Co announces that the Wyoming Department of Environmental Quality has issued the Class I Underground Injection Control (deep disposal well) permit for the Co's Nichols Ranch ISR Uranium Project located in the Powder River Basin of Wyoming, U.S.A. This deep disposal well authorization is the last permit required to begin operations and commercial uranium production at Nichols Ranch.

The Nichols Ranch ISR Uranium Project is expected to become the first new uranium mine built in Wyoming since 1996. The project is licensed for a production level of up to two million pounds of uranium per year with initial annual production targeted for 600,000-800,000 pounds after ramp-up. The project will also serve as a platform to develop the Co's other Powder River Basin properties with enhanced economics for adjacent and satellite projects.


the Wyoming Department of Environmental Quality has issued the Class I Underground Injection Control (deep disposal well) permit for the Company''s Nichols Ranch ISR Uranium Project located in the Powder River Basin of Wyoming, U.S.A. This deep disposal well authorization is the last permit required to begin operations and commercial uranium production at Nichols Ranch.
"The receipt of the deep disposal well permit concludes a long but successful effort to obtain all of the regulatory permits and licenses needed to construct and operate an ISR uranium mine in Wyoming," stated Mike Thomas, Vice President of Environment, Health and Safety.
"With this final permit in hand, Uranerz will focus on installing two deep disposal wells this winter while completing the remaining construction activities," stated Company President and CEO, Glenn Catchpole. "We are all very excited at the prospect of becoming America''s next ISR uranium producer in 2013."
The Nichols Ranch ISR Uranium Project is expected to become the first new uranium mine built in Wyoming since 1996. The project is licensed for a production level of up to two million pounds of uranium per year with initial annual production targeted for 600,000 to 800,000 pounds after ramp-up. The project will also serve as a platform to develop the Company''s other Powder River Basin properties with enhanced economics for adjacent and satellite projects.


Recall NBT coverage of them back in Sespt...

http://www.nbtequitiesresearch.com/company/uranerz-energy-corporation-urz


US Shale Oil E&P


Investment Thesis: Uranarerz Energy Inc. is now with a few months of opening the world’s next significant uranium mine at their Nichols Ranch facility in Wyoming…and it’s just in the nick of time.
URZ has all the approvals and agreements to begin mining - except the Deep Disposal Well UIC. Uranerz has all other approvals from the State and NRC, including the UIC for the injection wells in the well-field. URZ does have a permit for a 2 MM lbs U3O8 ISR plant which it won't immediately be using, and permits from the BLM are not required at Nichols Ranch.
CRIC 

Monday, September 17, 2012

URZ best chart this week under 2....bullish report

Worth a look.
Solid trending from 1.40 to 1.85 in last week...Added risk, but still like for trending to 2 on nature/steadiness of current technicals.
Uranerz Energy Corp. (URZ)
-NYSE MKT
1.88 Up 0.09(5.02%) 1:45pm EDT - Nasdaq Real Time Price
Volume:294,019



Bullish news today.
 
Microcap specialists nbt bullish report on URZ from late last week:
 
 
 
 

Initiating coverage of Uranerz Energy Corporation (URZ) with $5 target for 2013 or 3.5X Upside

Opening the World’s Next Major Uranium Supply in United States: Initiating Coverage with Strong Buy Rating and 3.5X Upside with $5 Target for 2013
Investment Conclusion: We are initiating coverage of Uranerz Energy Corporation with a Strong Buy Rating and $5.00 target price on 92.4 million shares fully diluted on a $3.50 NAV and 1.5 DCF multiple to represent M&A premium.
Investment Thesis: Uranarerz Energy Inc. is now with a few months of opening the world’s next significant uranium mine at their Nichols Ranch facility in Wyoming…and it’s just in the nick of time.
URZ has all the approvals and agreements to begin mining - except the Deep Disposal Well UIC. Uranerz has all other approvals from the State and NRC, including the UIC for the injection wells in the well-field. URZ does have a permit for a 2 MM lbs U3O8 ISR plant which it won't immediately be using, and permits from the BLM are not required at Nichols Ranch.
But the Underground Injection Control (UIC) permit is required before Uranerz could start using a deep disposal well to inject fluids back underground.
For ISR to work properly, about 0.5-1% of the groundwater must be removed from the system and these liquids need to be disposed of in order to make sure that proper convection occurs within the well fields.
Preparing for Plan B. Currently it appears Uranerz is preparing for Plan B. While it holds out hope it will get UIC permits for the deep disposal well, an alternative option is to bring that excess liquid to surface and have it evaporate in ponds, rather than sending it down a disposal well. This method is NOT much more environmentally invasive. Construction of the evaporation ponds would take three to four months so we aren't yet in a position where production would be delayed, although amendments to existing permits would have to be made to allow surface evaporation.
The company is suggesting that it may go the evaporation route first to keep production on schedule, and then follow it up with deep disposal wells following approval.  NOTE: The Plan B route could cut water disposal Capex in half as compared to the cost of drilling a deep disposal well, and operating costs shouldn’t be materially impacted. The deep disposal wells are each about $2.5-$3 MM (two required), whereas the evaporation pond cost would be about $2 - $2.5 MM.
Total Capex remaining is about $35-38 MM for which URZ has about half the cash in the bank and ample capacity to raise additional equity or capital in the Canadian capital markets.
No ISR plant required. Currently Uranerz are drilling the production and extraction wells at its Nicholas Ranch property. The company does not require an in-situ recovery or ISR plant at this point because it has toll milling arrangement with Cameco’s Smith-Highland ranch literally next door.
We currently forecast URZ production to begin towards year-end 2012, but further delay of the UIC permit or amending existing permits to allow evaporation ponds could potentially delay production into next year.
And given the massive major transition in world uranium supply/demand balance…this new plant coming on is JUST in time.

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