Potential Outcomes Being that I didn't panic sell this morning, it gave me some time to think about potnetial outcomes here.
1. Licensing works itself out.
I don't know how likely this is to occur but from past experience, clarifying information in these matters usually moves the licensing forward. In which case we pick ourselves up, dust off our knees, and it is business as usual.
2. Licensing is rejected and a new production facility will need to be sourced.
From the press release we already know that production will be allowed to continue until the licensing issues have been reviewed. In the meantime, NH is aggressively looking for another production facility. I am sure that there are other facilities that can scale out to meet their demand. In which case this may not really slow things down all that much. A quick pivot and maybe a few weeks of lost production.
It s not an ideal situation at the moment but I don't see any major catastrophes happening here. There will be other produciton alternatives if things don't work out with Palo Verde.