| | Published : April 04th, 2013 | NRC Revises Schedule for Final Suplemental Enviromental Impact Statement |
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Re: News Release - Thursday, April 04, 2013 Title: NRC Revises Schedule for Final Suplemental Enviromental Impact Statement
POWERTECH URANIUM CORP. ("Powertech" or the "Company") (Vancouver, B.C.), announces that the U.S. Nuclear Regulatory Commission ("NRC") has published a revised schedule for the completion of the Final Supplemental Environmental Impact Statement ("SEIS"). The NRC Staff submits monthly status reports specifying its best estimates of the issuance dates for draft and final agency documents associated with its review of Powertech's license application. NRC staff filed its previous status report on March 1, 2013.
In November 2012, the NRC issued the Draft Supplemental Environmental Impact Statement (SEIS) for the proposed Dewey-Burdock Project. The Draft SEIS states, "Unless safety issues mandate otherwise, the preliminary NRC staff recommendation to the Commission related to the environmental aspects of the proposed action is that a source and byproduct material license for the proposed action be issued as requested." Further, this statement is echoed in NRC's Safety Evaluation Report (SER) issued in March 2013 and which memorializes NRC Staff's safety review of Powertech's license application that states, "[t]he staff concludes that the findings described in this SER...support the issuance of a license authorizing the possession and use of source and byproduct material in connection with the proposed Dewey-Burdock Project."
While NRC Staff previously estimated it would issue the Final SEIS in May 2013, NRC Staff's current best estimate for issuance of the final SEIS is October 2013. This estimate takes into account the NRC's current resources, the demands on those resources from other licensing projects and non-licensing work, and the amount of time needed to fully respond to all comments on the Draft SEIS. NRC Staff is also revising its estimate because it continues to work with other agencies, including the Bureau of Land Management (BLM) and the Environmental Protection Agency (EPA), to ensure that all relevant views contribute to the Final SEIS. Although October 2013 is the NRC's current best estimate for issuance of the Final SEIS, NRC Staff has stated that it will make all reasonable efforts to expedite the issuance date.
Richard Clement, President of Powertech, stated, "While this revised schedule is disappointing, my direct communications with the NRC indicated that the staff will have completed their work on the Final SEIS by the end of June, 2013. They informed me that the remaining time was set aside for comments and concurrence from the cooperating agency, the Bureau of Land Management, and the reviewing agency, the Environmental Protection Agency. These additional government reviews will serve to strengthen our final operating license that will follow the Final SEIS."
About Powertech Uranium Corp.
Powertech Uranium Corp. is a mineral exploration and development company that, through its Denver-based subsidiary Powertech (USA), Inc., holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace and Aladdin Projects in Wyoming. The Company's key personnel have in-situ uranium experience throughout the United States, and worldwide. For more information, please visit http://www.powertechuranium.com
POWERTECH URANIUM CORP.
Per: "Richard F. Clement" Richard F. Clement Jr., President& CEO
For further information, please contact:
Thomas A. Doyle, CFO, VP Finance Phone : (604) 685-9181 Email : info@powertechuranium.com
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to obtain a final license from the NRC, permits from the EPA and approvals from the State of South Dakota. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) any negative change in the law, regulatory or political environment which would negatively affect the Company's ability to obtain all necessary environmental and regulatory approvals. license and permits, (2) the inherent uncertainties and speculative nature associated with uranium exploration, including the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and ore densities or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents or other risks of the mining industry, (3) a decrease in the demand for and/or a decrease in the price of uranium, (4) an increase in the operating costs associated with the extraction and processing of the uranium, (5) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (6) the risk that the Company does not execute its business plan, (7) inability to retain key employees, (8) inability to finance operations and growth, (9) an extended downturn in general economic conditions in North America and internationally, (10) an increase in the number of competitors with larger resources, and (11) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators at www.sedar.com.
Copyright � 2013 POWERTECH URANIUM CORP. (PWE) All rights reserved. For more information visit our website at http://www.powertechuranium.com/ or send email to info@powertechuranium.com ..
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Powertech Uranium Corp.
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EXPLORATION STAGE |
CODE : PWE.TO |
ISIN : CA7393691067 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Powertech Uranium is a uranium development stage company based in Canada. Its main exploration properties are ALADDIN, DEWEY TERRACE, CENTENNIAL and DEWEY BURDOCK in USA. Powertech Uranium is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.4 millions as of today (US$ 4.7 millions, € 3.8 millions). Its stock quote reached its highest recent level on March 30, 2007 at CA$ 4.50, and its lowest recent point on October 30, 2014 at CA$ 0.04. Powertech Uranium has 152 950 000 shares outstanding. |
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