EUROPEAN URANIUM RESOURCES LTD V.EUU

False hopes: EUU investors already immune, FTE ones not yet

[GejzaMiazga]

Quite funny how some people started rather madly buying the Forte Energy shares on the 23-Dec FTE news promising a "Kuriskova resource upgrade" in January. Obviously they're not familiar at all with what's currently going on here in Slovakia and what is expected to happen in 2015. Here's a short outlook for you:

1. The geological exploration licence that EUU and FTE possess through their Slovak subsidiary (named Ludovika Energy) will expire in April 2015. The licence - having been awarded to Ludovika back in 2005 for 4 years and already extended twice (in 2009 and 2013, respectively) - cannot be extended anymore. The Slovak geological law - under normal conditions - simply doesn't allow that.

2. Despite the above, Ludovika in early December announced the intention to extend the licence for another 10 years (masking it with the intention to explore "rare earth elements" - naturally, the current uranium price (about $40) is way too low now for uranium mining to be economically feasible). However, the spokesman of the Slovak Ministry of Environment (that shall make a decision once Ludovika's extension application arrives) has already told local media that the ministry considers the 2005-2015 10 years period long enough and is not likely to extend it any further. Hence Ludovika (and its owners EUU and FTE) are likely to lose practically all the rights they have to the Jahodna-Kuriskova uranium deposit.

3. FTE's news release in which they announced a "resource upgrade" is apparently not based on any real data. There's been no drilling made in the area since at least mid-2013 (I myself can't remember any Ludovika workers in the Jahodna area even since 2012). Some more info here: https://uranium-kosice.webnode.sk/news/australian-santa/

Happy New Year 2015 and better try finding your luck somewhere else - in Slovakia uranium diggers are (has always been and will always be) unwelcome!

[Itsagusher]

If you make wild claims like that on a public bulletin board you must be prepared to back them up with appropriate evidence, so before we go running for the hills lets have some eh? First the relevant section of Slovak geological law which allegedly prevents the exploration license being extended Secondly a link if you please to any article quoting the spokesman of the Slovak Ministry of

[GejzaMiazga]

itsagusher - here you have what you've asked for: 1. The Slovak geological law: https://www.vyvlastnenie.sk/predpisy/geologicky-zakon/ - check § 22 sec. 1 - I don't think Google Translate will cope with it properly, though, so here's a brief summary: the paragraph says that an exploration licence is granted for 4 years (happened in 2005) and can be extended twice, first for

[Itsagusher]

Well you've certainly nailed your colours to the mast with your local campaign, but it hasn't phased the shareholders of FTE which rose another 38% on the UK markets today. Also last time I checked Slovakia was a member of the European Union and will be bound by its laws and principles on human rights. EUU and FTE would therefore have resort to various legal mechanisms and compensation

[GejzaMiazga]

ltsagusher: I guess you don't have a degree in international law (correct me if I'm wrong). Me neither, so let's see what a MoU is: https://en.wikipedia.org/wiki/Memorandum_of_understanding "A memorandum of understanding (MoU) describes a bilateral or multilateral agreement between two or more parties. It expresses a convergence of will between the parties, indicating an intended

[Itsagusher]

Gezja my friend, let's go back to basics shall we? Nobody wants to experience mining activity in their home locality. It is a messy old business but one which is necessary to provide raw materials for industry or power generation, which is why decisions on it are normally taken at governmental level. Governments have a duty to take decisions in the wider national interest and frequently do so

[GejzaMiazga]

Apart from quoting large portions of stuff published at EUU website (which of course describes the Memorandum in the way they want their shareholders to see it, no matter if it's true or not) you didn't come up with any new information... As to "it would be very hard for the Government to set it aside without finding itself the subject of appropriate legal challenge" - keep on

[HobbyDigger2]

hI  GEZZA ;   unstand your  position . no one needs Uranium in the neighborhood.  we have a diffrent view .  Investors and Locals.  Remember  in  my Area  e  have had  20 year  problem with demonstrations.  All that with the demonsting actincs  wouldnt  help you If there is a capital interest with the mining and

[GejzaMiazga]

HobbyDigger2: You say that the nearest "Atom point" (not sure if you mean a uranium mine or a nuclear power plant) is about 60 km away from your home - do you happen to realize that Jahodná-Kurišková is only 6 km away from Košice? A bit of a difference, isn't it? As to the "cheap light" - mining uranium in Košice will not make the light any cheaper. You can't

[Itsagusher]

Gezja, Ministers are the hand of Government and it is they who are directly charged with taking decisions on most things within their sphere of responsibility, with a right of appeal to the courts on points of law. I used to work in this field and decisions are frequently overturned or referred back to Ministers for further consideration when they have erred on a matter of law and the principles

[GejzaMiazga]

ltsagusher: This "hand of Government" of yours named Malatinský that had signed the Memorandum with EUU was cut off by the government itself, after the head of the government (PM Fico) realized that it was poisoning his own popularity (realized it a bit too late - after Fico lost the presidential election vote to our current president Andrej Kiska who is clearly against uranium

[Itsagusher]

Oh....and one more thing ref your third point. EUU's last NR informs us that "The Company completed a three hole core drilling program in late 2012 for the purpose of obtaining composite samples for metallurgical test work. Those drill results will now be reviewed to assess whether an update of the mineral resource estimate is warranted. Work will also begin on evaluating whether there is