RE:RE:RE:RE:European Uranium – Commences Legal Proceedings in SlovakiaI'm not joking at all since the PFS for Kuriskova estimated a net present value of $276 million at the prevailing price of Uranium. It will be less than that at current prices but still a lot more than the $25m invested.
As I have said before Ministers are the 'hand' of Government and the previous Minister entered into a Memorandum of Understanding with the company, which encouraged them to spend more money on proving up the resource. It does not matter who the current Minister is as the company acted honourably upon an agreement entered into by a Minsiter acting upon the authority of the Slovakian Government The company will have taken good legal advice before taking this action and have dropped a strong hint that they will be looking for in excess of 25m Euros by way of compensation.
Anyway there is no point in us arguing over this as the matter will be determined by the courts but on a risk to reward basis this is now a very attractive investment given the company's currentl lowly valuation.