RE:RE:RE:RE:I don't know what is happening, but I like it.I read it differently. It looks like Jardine is saying the new Act does not allow a compaby to apply for a reassessment of an EA. I'm sure there is other recourse, but not through the mechanism of the Act itself. From Jardine: "As you note, the new Act, which is not yet in force, does not include an option for reassessment. However, if and when the Lieutenant Governor in Council brings the new Act into force, the order for reassessment made by Ministers in July 2015 will continue to be in effect under the transition provisions of the new Act."
So this doesn't mean that Booker is done in by the new Act, just that it has to move quickly to preserve its right to the reassessment.
"Projects that have been issued a Section 11 Order at the time the new Act is brought into force will proceed under the current Act (a transitional project) for the purposes of obtaining an EA certificate. Projects that have not received a Section 11 Order under the current Act will need to submit an Initial Project Description under the new Act.
Any transitional project will have six months to file a notice to indicate their desire to have an Application accepted under the current Act and will be required to complete the EA process within three years. Upon expiry, the CEAO could terminate the assessment process or by Order set procedures to transition the project to the new Act.
Amendments and applications for exemption initiated by the proponent before the new Act comes into force will be processed in accordance with policy and procedures in place under the current Act."
(This is all from an explanation of the transition provisions on page 24: https://www2.gov.bc.ca/assets/gov/environment/natural-resource-stewardship/environmental-assessments/environmental-assessment-revitalization/documents/ea_revitalization_intentions_paper.pdf)
BKM received the section 11 order on January 18, 2008 and it looks like Jardine is acknowledging a reassessment order from 2015. BKM is now indicating its interest in continuing the reassessment process under the current Act, not the new one. Information about the status of that reassessment appear to be on that EPIC website: https://projects.eao.gov.bc.ca/p/morrison-copper-gold/detail
So, my take is that Booker is keeping the old reassessment process alive (under the old Act) because it is administrative, as opposed to having to take what might be legal action to get a reassessment if the process moves to being under the new Act. That being said, I can’t figure out why the optimism in the share price unless it is because there’s an expectation that the EA office will want to wrap up old files and move completely to the new Act asap.
Thoughts?