licence issuance updateLicense issuance timeframe makes very little change to URE plans.
"ill Boberg, President & CEO stated, "While this decision of the NRC extends our timeline for the receipt of our license we recognize that the NRC is being cautious and trying to ensure that all licenses granted for new ISR operations in the US will be based on solid engineering, scientific, environmental and legal foundations. We are taking steps to mitigate the potential for extending our production timeframe beyond that set for Q4 2010 and have determined that we should be able to be in production within only a few months beyond our current plans, keeping us essentially within our original budget and enabling us to reach production with funds currently on hand. Our Q4 2010 production timeframe was already based on commencing construction in the spring of 2010 and not Q4 2009 because of the potential for severe winter weather at the site. As a result, this schedule change of the NRC only affects the timing of our license issuance but does not significantly change the timing for the start of construction or commencement of production."