This new PR seems both confusing and misleading, even for me, who has been an investor in this company for several years. From prior personal communications with the company, and other "informative" notes from supportive posters on this site whom I believe to be "reasonable", I've got a problem. doesn't anyone have a problem with the second paragraph of the PR? "the application for the Butte Highlands Hard Rock Operating Permit, ....... will be submitted shortly.!! huh? It was my understanding that the Hard Rock permit had been submitted last year, but was not approved because 1. the MPDES program had to be satified due to a greater amount of discharge water found during the initial mining phase, and 2. the exact route of mining trucks to the mill was approved. This communication makes its seems like TLR never submitted the initial Hard Rock permit. so, what am I missing here?
bodyimager...You're correct about the original Hard Rock permit being submitted in 2010. IMO, what we are seeing here is a continuation of the correspondence between the MDoEQ and Highland Mining concerning updated needed/requested changes. This appears to be part of the process with updated information related to the hydrology issues being focused on. There is going to be additional pumps and a water treatment facility constructed to control water pooling in the mine, that is my understanding of it. It's reassuring Highland Mining is dotting the i's and crossing the t's concerning permitting paperwork and Timberline is keeping us informed. Management has called this a "bump in the road" on the way to production.
We still have an updated NI 43-101 on the way from South Eureka that should show a significant increase of resources there. Longs have reason to hold on, Butte is financed, Timberline is debt free and South Eureka is growing! Hope this helps, Good Luck!
Sure. You can adjust your thesis now: this release says nothing about “summer 2012”; it says 2012 (to commence production) without specifying which part of 2012, i.e. you can start talking about December 2012. However, if you look carefully, this release also says that they just submitted application for mining permit and you may check how long it takes to get application approved in Montana, or in USA, in general.
Once a plan is submitted, DEQ has 60 days to either call it complete (which doesn't mean the plan is approved, just that there is enough information to begin preparation of the appropriate environmental analysis document and make an informed permit decision), or incomplete. If the application is deemed incomplete (which is usually the case the first time around) a certified (or registered) "completeness review" (or "deficiency") letter is mailed on or before the 60th day. The letter "stops the clock", and contains additional informational requirements and questions to which the applicant must respond.
The company can take as much time as it wants preparing a response. Once they respond, the clock starts again; this time, however, DEQ has only 30 days to review the resubmitted permit application. (DEQ has signed agreements with most of the other state and federal agencies that have some degree of permitting authority, that compels those agencies to meet DEQ=s statutory time frames for reviewing Operating Permit applications.) Following this 30-day review period, the application can either be called complete, or a second completeness review letter is issued. This process continues until the application is deemed complete by the agencies. Once again, "complete" does not mean the company gets a permit - it means that enough information (technical and otherwise) has been supplied by the applicant for the agencies to carry out the environmental analysis process (write an Environmental Assessment [EA] or Environmental Impact Statement [EIS]) and make an informed permit decision.
Once the EA or EIS is complete, the permit is either: 1) Approved as submitted; 2) Denied*; 3) Approved with conditional mitigations or stipulations. If approved, a bond is then calculated based upon the applicant's reclamation plan which is approved by the agencies. Once the bond is submitted and approved, the permit is signed and activities can begin.