The Canadian uranium company has changed its name again
THIS COMPANY IS A SHELL GAME AND YOUR MONEY IS THE BALL
(a quote from the Canadian financial portal stockhouse.com)
WOULD YOU TRUST A COMPANY THAT HAS CHANGED ITS NAME FOUR TIMES IN JUST 10 YEARS?
The Canadian company (whose Slovak subsidiary Ludovika Energy is trying to open a uranium mine in Jahodná-Kurišková near Košice, Slovakia) was first named Tournigan Gold Corporation (until 2008), then Tournigan Energy (2008-2012), now it calls itself European Uranium Resources (EUU) but this name that has lasted only some 3 years (2012-2015) should soon change, too, and the new name should be Reyes Resources. The plan for this name change was communicated to the company's shareholders and to the public in a news release on Monday 2 March 2015 ( https://www.euresources.com/s/
WOULD YOU TRUST A COMPANY THAT CHANGES ITS STRATEGY EVERY NOW AND THEN?
Alongside with the news release, the European Uranium Resources (EUU) company has also published a new presentation for shareholders ( https://www.euresources.com/i/
WOULD YOU TRUST A COMPANY THAT KEEPS GENERATING LOSS
but despite that it keeps promising a "bright future" to its shareholders and as the first step on the way to success it presents a share exchange on a 4:1 basis?
In the aforementioned news release (dated 2 March 2015) EUU announces that it has signed a purchase agreement for four gold deposits in Nevada, U.S., and that it plans to "consolidate" its shares on a 1 new for up to 4 old basis and issue new shares in order to finance its plans and settle its debt.
However, so far it seems that in spite of all this effort, EUU (aka Reyes Resources) has not been very successful in gaining trust of shareholders - in an internet discussion forum of the Canadian financial portal stockhouse.com, one of the forum members wrote the following comment: "This company is a shell game and your money is the ball. The whole purpose of this company is to keep management employed and well paid." ( https://www.stockhouse.com/
And with a company like this the Slovak ministry of economy signed a "Memorandum of Understanding"!? Isn't it a shame?
One more thing appears to be clear from the EUU (Reyes Resources)'s news release - they have not yet abandoned the plan to mine uranium at Jahodná, they have just moved away its financial burden to Australian Forte Energy and are waiting for a uranium price rise. Seems like not only the shareholders' money but also the health and the environment of the people of Košice are the ball in this shell game...