Greetings from Kosice, Slovakia. I've no idea what the FTE managers might have said to POLDARK and to his 6 investor-colleagues - however, what he calls here "recent regulations regarding mineral extraction" in Slovakia is in fact a state-wide ban on mining radioactive minerals admitting only one exception - consent of ALL the affected communities expressed in the form of a "yes" vote in a referendum. In case of the Jahodna-Kuriskova uranium deposit 6 referendums would have to take place, the most important of them in the city of Kosice itself (250,000 inhabitants and the 2013 European Capital of Culture), and all of the referendums would have to end with a "yes" result. I shouldn't forget to mention that for any referendum in Slovakia to be considered valid, at least 50% of the registered voters would have to take part in it. Most of you are well aware of the fact how unpopular the idea of uranium mining in Kosice is among locals (and those of you who are not should google for the information the sooner the better) - only a fool can think that 50% of all the registered voters in each of the 6 affected communities would come to vote in a pro-uranium referendum and to answer "yes" to the question. The Canadian EUU rats have been trying in vain since 2005 to persuade the local people about the "advantages" of uranium mining in Kosice - why do you think they are finally getting rid of their Slovakia uranium deposits in and trying their luck with copper mining in Serbia?! (of course they are looking fwd to close the deal on the 14th).
FTE was recently discussed with a group of 7 investors, of mixed nationalities, and of which I was one. It is felt news will arrive here shortly - in particular an update re. European who are set to conclude next week.
The news coming out of Slovakia re. recent regulations regarding mineral extraction was also discussed and is less of a concern than it may originally appear.
Further news on the African assets and drilling results should also soon be forthcoming. It was felt that these can not reasonably be released whilst the company is in mid-transaction/acquisition.
So expect a string of RNS' v.shortly.
I rate the shares a strong BUY once again and expecting the price to firm back up to 0.5 - 0.7p region in the near term. Confirmation of the acquisition and drilling results should begin to underpin the value here.
These are just the views/general consensus of recent recent talks noted above. ADYOR as ever.
Bad back lol. Could be the same...if it straightens itself out! I guess we have to trust MR! And, I suppose, peersuading locals who need work may be easier than persuading the whole country. The Economy Minister tho seems in favour...I read his comment to mean that disallowing the mining and therefore the energy and economic benefits is bad for the country. I think the article I read was badly written in this respect as most people would have formed the impression he was against mining- I don't think he is. Meantime, Areva seem to have new problems with the Uramin deal rearing up. And the experts are back ro 2 camps on Uranium price. Some think it's stuck while others reckon it is only a matter of time before it has to explode. Maybe Dusty at EUU didn't want to spend time in the diplomacy if taking this forward. He perhaps would prefer to spend the time drilling into something more straightforward? Don't know but I do think our Mark has his head screwed on and so good should come from this! Meantime, just a bit worrying...
I feel we need to find momentum to vote against the deal unless the company can release some information or RNS to reassure share holders. There are other assets out there so it does not have to be this one? If in doubt we must get out!! If anyone from FTE is reading these boards then say something regarding this potential white elephant. Please!
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