Western Copper Corporation (TSX:WRN)(NYSE Amex:WRN) received notification of the Yukon Supreme Court's ruling regarding the Company's appeal of the Yukon Water Board's decision not to grant the Carmacks Copper Project a Water Use License on February 24, 2011.
Western Copper had appealed the Yukon Water Board's decision in order to clarify the rules it would have to follow for re-application of a Water Use License.
The ruling does not require the Yukon Water Board to accept the findings of the Yukon Environmental and Socio-economic Assessment Board (YESAB) which concluded that the project can be built and operated without significant environmental effect. However, the Court decision does provide clarification of the environmental and regulatory process in Yukon. Western Copper will consider the decision and engage in discussions with regulators prior to resubmitting its Water Use License application.
"This decision affirms significant areas of overlap in the Yukon regulatory system. We'll review our options and move forward appropriately. Carmacks only represents a small portion of Western Copper's assets," said Dale Corman, Chairman and Chief Executive Officer.
Source: Western Copper Corporation