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EUROPEAN URANIUM RESOURCES LTD V.EUU

"European Uranium Resources Ltd is engaged in the identification, acquisition, exploration and, if warranted, development of mineral resource projects. Its projects are Kuriskova Uranium Deposit and Novoveska Huta uranium deposit."


TSXV:EUU - Post by User

Post by GejzaMiazgaon Jun 15, 2014 3:12pm
239 Views
Post# 22661730

First-hand info from Slovakia

First-hand info from SlovakiaGreetings from Kosice, Slovakia (the city closest to the Jahodna-Kuriskova uranium deposit that EUU and its predecessor Tournigan have been drilling/exploring since 2005). I guess that to you uranium mining in Slovakia is probably just a way how to earn some money via EUU shares but to us, local people, it is a threat to our lives, health and environment. Here are some facts, which are very likely unknown to you:

1. The idea of eventual uranium mining in the hills of Jahodna, which are located only some 6 km away from Kosice, in a recreational area and very close to 2 out of 3 sources of drinking water for the city, is extremely unpopular among local inhabitants. There have been several public protests against uranium mining in the past, the most notable one of them being the largest-ever environmental petition that has taken place in Slovakia so far ( https://www.greenpeace.org/international/en/news/Blogs/nuclear-reaction/113488-say-no-to-uranium-mining-in-slovakia/blog/11347/ ). The campaign - supported by Greenpeace - forced the Slovak national parliament in 2010 to change the geological and mining laws so that an approval by local municipalities is required before any uranium mining can take place.

2. Recently (on 3 June 2014), as a result of continuing protests, the Slovak national parliament has strengthened the mining laws so that they de facto impose a state-wide ban on uranium mining ( https://spectator.sme.sk/articles/view/54204/10/new_mining_rules_passed.html ) allowing only one exception - consent of ALL the affected communities expressed by a "yes" vote in local referendums (which is extremely unlikely to happen).

3. The uranium deposit Jahodna-Kuriskova itself is by far not as economically viable as EUU tries to present to its shareholders. The pre-feasibility study that was made by TetraTech for EUU (then Tournigan) a couple of years ago calculated with much higher uranium prices than today's ones. The truth is that Jahodna-Kuriskova is a marginal uranium deposit whose underground mining would be an economical suicide for the company who would attempt it (and an ecological disaster for the city of Kosice and its neighbourhoods).

4. I recommend to everybody to get rid of shares of any company that is counting on making profit from uranium mining in Kosice or in Slovakia in general. The probability that he/she will lose the money is much higher than the opposite. And besides, there is also the moral part of the problem - I believe that not everyone of the shareholders is a wicked b.st.rd who would donate his/her money to a company whose activity would ruin local people's lives, health and environment. The uranium mining business in Kosice is a black and filthy one and any money coming from it - besides being unlikely - would be black and filthy, too. I can assure you that we, the local people, will do everything possible and impossible to prevent uranium mining so close to our homes!
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