Monday, December 30, 2013

Virginia Energy Provides Update (VUI): temporarily suspend some of its activities

The company suffered a setback following the election of the Democratic candidate Terry McAuliffe as the Commonwealth's next Governor. McAuliffe's post-election statements of opposition to our project are disheartening to say the least.

As a result, the company has decided to temporarily suspend some of its activities so that the Board can evaluate the best course of action to advance the longer term potential of Coles Hill uranium project.

The Company has significantly scaled back its government affairs program for the 2014 Virginia Legislative session and will likewise scale back some of the technical work on the project, at least for the interim period.