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Bullboard - Stock Discussion Forum Plateau Energy Metals Inc. PLUUF

Plateau Energy Metals Inc is an exploration stage company. The company is in the process of acquisition, and exploration, and evaluation of mineral properties in Peru. It is principally engaged in the exploration for uranium on its properties located in the Macusani plateau region of southeastern Peru and the Falchani lithium project.

GREY:PLUUF - Post Discussion

Plateau Energy Metals Inc. > Ulises Solis responds to Corani's mayor
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Post by juanPeru on Jun 14, 2019 1:21pm

Ulises Solis responds to Corani's mayor

https://larepublica.pe/economia/1486147-litio-macusani-yellowcake-puno-denuncian-minera-macusani-habria-respetado-norma-exploracion-litio
Puno: Mining company Macusani (Yellowcake) would not have respected environmental standards for lithium exploration

They do not oppose to mining investment, as long as the rules and the current social license are respected. This was stated by the mayor of the district of Corani, in Puno, Edmundo Caceres, who denounced that the discovery of lithium by the mining company Macusani Yellowcake, in 2018, did not have environmental certification.
 
"When the Ministry of Energy and Mines reaches the letter 446, on March 13, in all the reports we found that explorations were carried out in our area without authorization, we are concerned because they have damaged the environment, and have not respected the rights of the peasant communities of the place", he said this morning in a local media.
 
The mayor said that the company, which also explores for uranium in the area, would have caused environmental damage by drilling the subsoil to make the discovery". We do not know if they damaged the water branches, but it should be clear that we do not oppose to mining investment", he said, adding that although Puno is one of the regions with several mining activities, it does not contribute to National GDP.
 
On the other hand, he denounced that the Regional Office of the Ministry of Energy and Mines in Puno wanted to hold a participatory workshop on May 27 for a new mining exploration in another area, even though it is not its competence. "Fortunately, they stepped aside and said they will not interfere, we have already sent a document to the Ministry of Energy and Mines, pointing out the interference", he said.
 
Macusani responds
 
In response to the mayor's statements, Macusani Yellowcake's general manager, Ulises Solis, informed "La Repblica" that - indeed - the company would not have waited for the approval of its environmental certification before the Regional Directorate of Energy and Mines to perform the lithium explorations in the district of Corani.
 
"It's true we do not have the approved environmental instrument but that does not mean we did not start it (February 2019), as well as the informative workshops before the community [...] We could not wait, because (the community) required us to work", he said. .
 
Likewise, he indicated that the OEFA has already initiated a sanctioning process against which the company has raided. "There is still no formal sanction, but they have forced us to paralyze the perforations (case of uranium) and close gates, which we have complied with", he added, pointing out that in the case of lithium, no drilling would have been carried out as stated by the mayor of Corani, denying possible contamination.
Comment by rockmoney on Jun 18, 2019 11:16am
Ok, this sounds like a much more serious mess than we first thought. Plateau's GM is bascially saying they started drilling without permits! Insane. Where is the board in managing this? That should never happen. The Peruvian managers now lose a lot of credibility with the local communities and the anti-mining opposition will pounce on this failing. And this is not the first time this has ...more  
Comment by zorsofstesab on Jun 18, 2019 12:57pm
June 2017, that's correct, June 2017 you wrote "I did not make a money and took a lose when it popped up. i was there before the consolidation - took my lumps and moved on." Moved on? :Looks like you made a comback to me as you have posted here since that post. All negative as well.  
Comment by CdnMicroCaps on Jun 18, 2019 1:36pm
You gotta love those people who are short term trading in and out of this stock.  I believe they call them "poop and scoopers".  They post negative things to drive down the stock price, buy the stock and sell it on any upward momentum.  Lather, rinse, repeat.  Thinly traded stocks that move on any kind of volume are going to attract these types. They stalk the stock ...more  
Comment by McInvestor on Jun 18, 2019 1:47pm
I would think that transaction fees would negate any profit in a stock as thinly traded as PLU.  Doesn't sound like much of an investment strategy rockmoney.  Maybe spread your BS elsewhere with a little more volume.
Comment by juanPeru on Jun 18, 2019 1:06pm
I think that this thing of "the community required us to work" is only partially true, and the main reason they strated drilling without the permits is because the claims are oficially "expired" until the "appeal for review" is accepted by the Mining Council and INGEMMET's Expiration Resolution is consequently revoked. That is, management decided that drilling was ...more  
Comment by Misetrone on Jun 25, 2019 8:30am
Hi Juan! Is this the fine (83,000)? https://drive.google.com/open?id=1CVhRZPdMjFPyXn8F_SzxDRJwgwrKXMGK
Comment by UraniumBull23 on Jun 25, 2019 9:17am
Hey Misetrone,  Was updated on April 17th from my perspective it is showing a debt of $83000 no deposit made by macusani yellowcake and a balance of -$83000 which is just proof of the clurgical error that occurred which started this whole fiasco. 
Comment by juanPeru on Jun 25, 2019 1:07pm
Hi guys! The amount you mention (S/. 83,000) is in PEN (soles, peruvian currency), that's why the "S/." symbol. That is equivalent to approximately $25,000, and is the debt accrued this year for the concept of "penalty". Is this the reason why the claims were expired? No, those claims were expired because of the "validity right" not being payed for two consecutive ...more  
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