The full answer to your question is as follows...
Mining operations in the State of Utah require two permits to be issued, one by the State Division of Oil, Gas and Mining and the other by the Federal Authority which acts as custodian for the land upon which the claim is located (for there is more than one Federal Authority acting as land custodian in Utah). Although the requirements are similar (Notice of Intention, Surety/Bond), the regulatory process it seems is not, and the Federal Requirements may take longer to fulfill than state.
There are three specific types of permits which can be applied for, an Exploratory Mining Permit, Small Mine Permit and Large Mine Permit, the requirements increase as the operation becomes larger. Russell Industries is applying for an Exploratory Mining Permit... FYI, the official definition of an Exploratory Mining Permit is as follows...
MR-EXP
This Notice of Intention to Conduct Exploration form applies only to exploration activities. "Exploration" means surface disturbing activities conducted for the purpose of discovering a deposit or mineral deposit, delineating the boundaries of a deposit or mineral deposit, and identifying regions or specific areas in which deposits or mineral deposits are most likely to exist. "Exploration" includes, but is not limited to: sinking shafts; tunneling; drilling holes and digging pits or cuts; building of roads, and other access ways; and constructing and operating other facilities related to these activities. A $150.00 initial application fee is required to accompany the application form and annually thereafter, until the operator reclaims the site and obtains a formal release from the Division.
Please pay close attention to the portion of that paragraph in bold... you will see that the definition of Mining Operations for the purposes of Exploration cover support infrastructure and much more than simply digging ore out of the ground... I have been making this point for a while, that anybody out here who expects Russell Industries to be selling Uranium Ore in May is going to be sadly dissapointed. They are indeed making moves to exploit the resources within these claims, whether independently, through a JV or Buyout, however it happens, but IMO, it wont be happening in May, although support operations and exploration to identify Ore may well do so.
I can confirm the following for you, the Federal Authority in question HAS received a Notice of Intention from Russell Industries to apply for an Exploratory Mining Permit, in addition the state requirement for a company to be registered to do business in the state of Utah was met by Russell Industries on May the 14th, when Russell Industries appeared on the Utah Secretary of States Web Site, Anthony Brandt is named therein as the registered agent for Russell Industries in Utah. This is not supposition, I have e-mails confirming the facts related to the Federal Authority statement from State officials.
The State Permit can be issued in 15 days, depending on the Federal requirments for public comment and environmental impact assessments, the Federal application can take longer.
Hope this helps flesh out the current situation a little for you.... Seems like a lot of people have a lot of time to discuss trivial issues on the board at the moment... If youre here to flip this, scalp it or ride the projected momo I can understand that.... but if you actually feel that this is a long term investment type play... why not do a little digging folks... there is much more information out there..
Cheers, J.
In Remembrance of Joe Bresler, former C Sqn (Rhodesia) SAS, good friend, sorely missed. RIP Joe
