RE:RE:RE:RE:MAA - SUBMITTEDGood post Molly, wholeheartedly agree ... Although I have had my days/weeks/months of frustration re timelines we ARE on the right track ... Measure twice cut once ... Do it right the first time ... Both came to mind when I read Sprott's take on the MMA milestone ... If we have done it right and have taken the extra time identifiing and solving all areas of concern the ministry may have, including being proactive by having the consent of the Nisga's Lisim's Government, then we have a chance to get our approval in weeks not months ... 6 Weeks technical review followed by 30 days consultation and public review ... Everyone wants this project so I don't see any hold up in the public review process ... Add 30 days we could be going full bore building the mine by mid-May ... Doing it right the fisrt time may save us months in back and forths with the government ... From the Sprott report:
Ascot announced it has submitted its Mines Act / Environmental Management Act permit application for
regulatory screening and review. This is an important milestone that commences the permitting process.
In our view the key points are i) Ascot requires a permit amendment rather than a full EA, this is a faster
process; ii) the ministry’s timeline indicates a six-week technical review process followed by consultation
and public review (30-days); iii) new disturbance is limited as there is a mill building, legacy mine workings
and a permitted TMF in place; iv) Premier enjoys strong First Nations support and Ascot’s announcement
includes a statement in support by the president of the Nisga’a Lisims government. We maintain our BUY
rating and 0.75xNAV5%-1850 PT of C$1.85/sh. This is another milestone accomplished for Ascot, which is
steadily progressing towards construction start and first production, which we model in 3Q21 and 3Q22,
respectively. As Ascot nears production, we expect a positive rerating on scarcity value: a high-grade
150kozpa development-ready project in BC with a completed DFS and debt funding in place.
Ascot submits joint Mines Act / Environmental Management Act permit amendment
Ascot announced that it has submitted the joint Mines Act / Environmental Management Act to amend
its Mines Act Permit M-179 and Environmental Management Act Permit PE-8044 for regulatory screening
and then review. It is noted that Premier has completed a number of pre-construction milestones
including ordering of the grinding mills. Premier already has an Environmental Assessment Certificate
(EAC) and mine permit, so therefore requires a permit amendment, which is a faster process than the full
EA process required for new builds. The BC Government’s public guidance is that it strives to complete
the technical review within 60-days. Other stages in the process include consultation and public review
and comment. Ascot’s statement included the following statement of support from the president of the
Nisga’a Lisims government: “The submission of the Joint MA/EMA Application for the Premier site
demonstrates a comprehensive and collaborative effort by the proponent and Nisga’a Nation as we
continue to build mining as an important industry within the Nass Area.”
Link to their report:
https://www.sprott.com/media/3591/210204-scp-aot-permit-submission.pdf