Trading in shares of Edgewater Exploration (EDW.V) has been halted on pending news. Although we are still waiting for a press release from the company, the website of a Galician ecological group has confirmed the government of Galicia has issued the Environmental Impact Study to Edgewater, stating the project is viable and meets environmental standards.
The EIS has been signed and will be published next Monday on the site of the Galician government (www.xunta.es). We expect Edgewater to release a statement on this positive development early next week.
With this key license in place, Edgewater Exploration is ready to go full steam ahead in 2013, expecting a resource update and a definitive feasibility study in Q1 2013.
Disclosure: The author holds a long position in Edgewater Exploration Ltd. Please see our disclaimer for current positions.
