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Re: Nickftw post# 713

Wednesday, 09/27/2017 11:49:06 PM

Wednesday, September 27, 2017 11:49:06 PM

Post# of 3580
Not sure when the draft permit will be issued with notice to the public for review, comment, and process to request a hearing. CEO said in July that he thought late Q3, which jives with sometime in October. At that time, Excelsior staff were working with EPA Reg 9 on technical review and writing for the draft permit.

Once the notice of the availability of the draft permit for review, comment, and public request for a public hearing (I doubt there will be public requests for a hearing) is announced, the draft permit and a statement of basis (brief explanation of why EPA thinks it's okay to issue the permit) are available for review/comment for 30 days, unless EPA thinks more extensive public outreach is necessary (unlikely). If you want to research the process more thoroughly, see 40 CFR Part 124. Link below:

[url]https://www.ecfr.gov/cgi-bin/text-idx?tpl=/ecfrbrowse/Title40/40cfr124_main_02.tpl


If CEO's prediction is accurate about the late Q3 timeframe for the draft permit, and assuming there is no public clamor for a hearing or significant comment, the permit will likely go final in late November or possibly early December.

I expect Excelsior to issue a PR about the permit and details about a financing partner or creditor(s) (Excelsior has been working the beat to get financiers/creditors for the upfront capital investment) and possibly financing a portion with equity (shares with warrants). Just my speculation, though.

Optimally, Excelsior gets the final UIC Class III permit and financing completed by year's end, and starts construction immediately thereafter.