Our comments in the Share Discussion for Forte Energy (FTE)
Our comments in the Share Discussion for Forte Energy (FTE)
7 April 2014 21:41
The Australian uranium company Forte Energy NL (FTE), which is according to the information published on Friday 4 April 2014 about to become the new owner of the exploration rights for Slovak uranium deposits Jahodná-Kurišková and Novoveská Huta, has its shares quoted on the London Stock Exchange (LSE). At the website of the exchange ( https://www.lse.co.uk/
We have taken advantage of this opportunity today to let both the current shareholders (as well as potential new ones who might be possibly interested in earning some money from uranium mining at Jahodná in future) clearly know that they are absolutely unwanted here and that the local people are strictly against any uranium mining or processing in Košice! Our comments in the discussion didn't last too long - "somebody" was anxious enough to get them deleted (and to suspend our account) in no more than 2 hours. Nevertheless - be it for our comments or for whatever other reason - the FTE share price dropped down today from 0.48 to 0.42, its the daily minimum being 0.39.
This was our main message (see also the screenshots of our posts below):
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Hello to all from Kosice, Slovakia - the city closest to the Jahodna-Kuriskova uranium deposit, i.e. the "pig in a poke" that FTE has just purchased or is about to purchase from EUU. To most of you uranium mining in Slovakia is probably only a way how to earn some money via FTE shares but to us, local people, it is a threat and a danger to our lives, our health and our environment. Therefore I'd like to make you familiar with a few 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. The only people who support this dirty business are local corrupt politicians, hoping to get thick bribes from the mining company (and even they have to be very careful of what they say or do because they're risking they won't get elected the next time). As somebody has pointed out in this discussion already, the freshly elected president of Slovakia Andrej Kiska (taking the office on 15 June) has declared that he, too, is against uranium mining and will do all that he can to establish a moratorium on uranium mining in our country.
2. There have been several public protests against uranium mining in the past and others are planned to take place in future. The most notable one was the largest-ever environmental petition that has taken place in Slovakia so far ( https://www.greenpeace.org/
3. The uranium deposit Jahodna-Kuriskova itself is by far not as economically viable as both EUU and FTE try to present to their shareholders. The pre-feasibility study that was made by TetraTech for EUU (at the time the company's name was Tournigan Energy) 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).
Conclusion:
I strongly recommend 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!
the freshly elected president of Slovakia Andrej Kiska (taking the office on 15 June) has declared that he, too, is against uranium mining and will do all that he can to establish a moratorium on uranium mining in our country.
