Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Urgently curbing emissions from burning hydrocarbons seems to be particularly high on the environmental agenda atm, quite rightly. Maybe a real tipping point is near, when wider opinion shifts towards greater acceptance of more nuclear power, or at least greater resistance to the more radical counterproductive outmoded anti-nuclear agenda of some environmentalist groups, at least whilst the reliability and scalability of other renewables catches up. There are hundreds of existing and new reactors being built in the world, so it's happening in places like China anyway, and realistically unstoppable. Most of England is downwind of the Hinkley Point nuclear reactors. Somerset's pretty laid back. So is a simple U mine in impoverished rural Spain, built to the highest standards, such a problem, or really such a risk, or such a bad idea? It could help save the planet. Stakes are getting higher.
Must say that thought has crossed my mind as well Paul. I remember buying at 8p in December 2018 and within a fortnight the share price had trebled on press rumours of approvals for the project which turned out to come to nothing. I luckily turned an 83% loss into a break even position. Sold out at that point.
The problem is obvious to us all at the moment - the ecologistas are in power (Atalaya have also been feeling the brunt of their activities lately as well) and the CSN ludicrously has new members who are anti uranium. It's worth noting that BKY were due to submit responses to the CSN earlier this month to answer their previous queries on risk analysis, waste management and clarification of previous official documentation. It will be interesting to see the response. Any vaguely encouraging news could see a spike as now BKY are listed on the Bolsa, the share price seems more volatile if anything. I'm not holding my breath though.
Until the political situation changes, which it may well do in time, we're stymied. The EV exploration results so far haven't been particularly exciting at all IMHO but there may be some chance that they could be mined economically.
It could only be a small punt at the moment though.
If this slumps closer to 5p I’m tempted to move in.
https://www.ft.com/content/e92100f8-7cca-11e5-98fb-5a6d4728f74e
Even if they did get permits they would need to raise money again. This is dead. Amazed it stayed so high for so long.
Thanks for the links and research, Dave, useful stuff. I think Spain's a cakewalk compared to Kyrgyztan. Was keen on MNRG for exposure there but held off once they announced the ban.
As Salamanca is already well progressed, it could move quite quickly anyway with a good CSN report, and an epiphany or implosion of El Guapo's latest coalition.
Bloomin well hope so Gloster!
Would do the pf a world of good. Start with sweden for me, then Spain, then kyrgyzstan.
Thing is re terraframe, they already mining and the uranium otherwise goes into the tailings and has the potential (however mitigated that potential maybe) to be leached out into the ground water and cause wider contamination.
I've read research where bacteria have been found to breakdown (convert really) the uranium over time and that is imo the second best option for maximial mitigation of long term risk (on top of all physical containment measures that maybe specified project by project).
The best option however, once you accept the material containing the uranium will in fact be mined and broken up, is to extract as much of the stuff as possible. It can then be stored/sold as yellow cake etc.
Point being if companies are incentivised by profit they are more likely to leave as little in the waste as is economically optimal which is likely to be very little. States get their cut through taxes etc (even ignoring any state stakes that already exists eg TF 70%) which increase in line with U price.
Talvivarra has a very troubled past environmentally but the case study proves that mining companies can and have changed, and through public/state pressure (in their case involvement) now see environmental concerns as economically important if not crucial depending on jurisdiction.
Although any refusal would be counterproductive in terms of likely environmental consequence, and this is quite different to allowing a new potential contimation risk, the granting of permission is non the less, imo, a step in the right direction.
As the article states these things move glacially.
Once uranium price gets going, imo H2 this year and beyond, I expect the decision making (pressure upon) to get more balanced, wheels slowly but surely to be greased and the dominos, as you say, to begin to tumble & maybe hasten.
Really hope so anyway.
https://www.newscientist.com/article/mg23431211-300-radiation-eating-bacteria-could-make-nuclear-waste-safer/
Soluble to insoluble basically back to being how it was insitu (pre-mined) I think.
More on the same lines....
https://ensia.com/articles/bacteria-water-contamination-pollution-cleanup/
https://sputniknews.com/science/201810081068701682-nuclear-waste-neutralizing-bacteria/
Bottom line is U is quite common in low levels in certain areas of the world and if said rocks are prospective primarily for other, potentially 'critical minerals', what is to be done? This decision sets an EU precidenct for uranium production, logically, with salami tactics in mind, next would be allowing commencement of a new operation where the uranium production would be as a biproduct. Then allowing full blown blatant mining of U (Salamanca) after that.
Just my thoughts anyway.
AIMO ATB
Looks like Finland have given the go ahead to uranium production. First in the EU so perhaps that starts the domino effect. https://www.euractiv.com/section/energy/news/finland-set-to-become-eus-sole-uranium-producer/1429044/
Started buying in here today. Will add slowly when funds allow.
Well aware of the issues re Salamanca and I'm specifically buying here due to the strength of the uranium asset.
Just think at some point it's going to happen, at some point in the next 5 years there will, imo, be so much money to be made, things will change/get done.
Meantime, never know - sp could do well just from other assets or general uranium uptick, this is included is several targeted uranium focused vehicles Ive come across. When the space moves likely so will this and if it ever gets the ok - likely multibag.
AIMO GLA