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Penbar Capital Ltd V.PEM


Primary Symbol: V.PEM.P

Penbar Capital Ltd. is a Canada-based capital pool company. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation by completing a qualifying transaction. The activities of the Company are initially limited to the efforts to identify and evaluate the acquisition of assets and business, which would represent a qualifying transaction for regulatory purposes. The Company has not commenced commercial operations and has no significant assets.


TSXV:PEM.P - Post by User

Bullboard Posts
Post by prospector7on Jul 09, 2009 8:24am
184 Views
Post# 16126737

Supreme Court Decision effects all mines

Supreme Court Decision effects all mines

9th Circuit lifts Kensington gold project tailings permit injunction

After a spectacular reversal ofits decision by the nation's highest court, the 9th Circuit Court of Appeals haslifted its injunction against the Kensington gold mine tailings permit.

Author: Dorothy Kosich
Posted:  Thursday , 09 Jul 2009

RENO, NV -

 

Following the reversal of its decision by the U.S. Supreme Court, the NinthCircuit Court of Appeals has lifted its injunction against Coeur d'Alene Mines'Kensington gold project 404 mine tailings permit.

With the anticipated reinstatement of the 404 permit by the U.S. Army Corpsof Engineers, Coeur will be able to resume construction of its tailingsfacility, the only component remaining to be constructed at the gold mine, andfor production to begin as scheduled in the second half of 2010.

The Alaska gold mine is expected to produce 125,000 ounces of gold annually,a 135% increase over Coeur's current gold production levels.

In a decision last month, the Supreme Court upheld the right of the Corps ofEngineers to permit mine tailings through Section 404 of the Clean Water Act.The decision also held that mine tailings are fill material.

The 9th Circuit had held that both the EPA and Corps regulationsapply in the Kensington tailings disposal case, which involves disposal oftailings in a freshwater lake. However, the high court found that the Corps hadthe final say on whether Coeur Alaska was entitled to receive the 404permit.

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