HOUSE BILL 1161 RULEMAKING IMMINENT

C.A.R.D. needs donations to hire experts; Powertech and Colorado Mining Association expected to attempt to weaken rules

Posted August 27, 2008


Powertech releases first quarter financial results

Zero operating revenue; $1 million in stock options paid to officers and directors; cash burn rate is $1.1 million per month; only $7.8 million cash left at June 30

Posted August 24, 2008


Powertech refuses to lift veil of secrecy over exploratory drilling

State regulators hold up approval of June 24 NOI, request that more details be made public; Powertech news release fails to mention dispute with state over confidentiality

Posted August 16, 2008


DRILLING BEGINS ON SECTION 9

No evidence of approval by state, no announcement by Powertech, drillers can't produce permit

Posted August 1, 2008, Updated August 4, 2008

Powertech drilling rig at northwest corner of Weld County Roads 19 and 106.  The drilling contractor is Davis Drilling from Gillette, Wyoming.


Powertech looking for more uranium in troubled Centennial Project

Company files Notice of Intent to drill eight uranium exploration boreholes and two ground water monitoring wells; Colorado mining regulators find notice to be incomplete; will NOI be approved despite problems with 2007 exploration drilling?

Posted July 27, 2008, Updated July 29, 2008


Canadian province bans uranium exploration and mining in certain areas

New Brunswick prohibits "uranium exploration and extraction in designated watersheds and well fields, as well as in villages, towns and cities"

Posted July 7, 2008


Canadian uranium mining firm cited by State of Wyoming for numerous environmental and safety violations

Strathmore Resources violated exploration permit; company failed to protect groundwater aquifer and safety of public and wildlife

Posted July 2, 2008


Powertech releases fiscal year 2008 financial statements

Canadian company ends year with only $1.4 in working capital, no mining revenue, and $18.7 million of accumulated losses; report includes warning that House Bill 1161 could "affect the profitability of the Centennial Project"

Posted June 26, 2008, Updated July 3, 2008


Powertech wants to mine uranium in aquifer used for drinking water by thousands of Weld County residents

New map shows hundreds of domestic and agricultural wells in close proximity to mining area; well data from Colorado Division of Water Resources

Posted June 16, 2008, Updated June 19, 2008


AULT TOWN BOARD OPPOSES IN-SITU URANIUM MINING IN NORTHERN COLORADO

Vote is unanimous on resolution urging all federal, state, and county agencies to deny any and all permits

Posted June 10, 2008, Updated June 13, 2008 


Powertech sells off part of company to European multinational corporation

Canadian firm to get $9 million cash injection from Societe Belge De Combustibles Nucleaires Synatom SA, a subsidiary of Electrabel/SUEZ Group

Posted June 3, 2008


News release by CSU professor provides more details about uranium mining survey

"This study not only confirms the common wisdom that public opinion is against the proposed mining operation, but also gives an indication of the strength of this opposition"

Posted May 29, 2008


Mining project opponents are more credible and trustworthy than Powertech, according to CSU survey of northern Colorado residents

84% believe risks associated with uranium mining in area outweigh benefits; 4 out of 5 say mining issue will affect voting choices

Posted May 25, 2008, Updated May 26, 2008


HOUSE BILL 1161 IS LAW

Governor Bill Ritter signs bill at Capitol ceremony; Governor and legislators praise grassroots campaign by CARD and bipartisan efforts to pass bill; legislation touted as model for other states

Posted May 20, 2008, Updated May 21, 2008


Federal appeals court judges skeptical of New Mexico ISL uranium mining proposal

Hydro Resources Inc. was formerly run by Powertech CEO Richard Clement; after 14 years company still waits for approval to mine

Posted May 17, 2008


GOVERNOR RITTER TO SIGN HB-1161 ON TUESDAY

Bill to become Colorado law May 20

Next step: rulemaking process to draft detailed regulations

Posted May 15, 2008, Updated May 16, 2008


Hundreds of domestic water wells surround the Centennial Project

Map shows proximity of wells to proposed ISL uranium mining

Posted May 11, 2008


Another local business opposes uranium mining in northern Colorado.  Northern Colorado Feeders Supply, located in Fort Collins, is only eleven miles southwest of a potential open pit uranium mine.


SUCCESS!

HB-1161 wins final legislative approval and is sent to Governor Ritter; House approves Senate amendments and reaffirms bill

Posted May 5, 2008


32 to 2

SENATE PASSES HB-1161 ON FINAL READING

Posted May 2, 2008 - 10:00 AM


HB-1161 APPROVED BY SENATE ON SECOND READING

 

Senator Steve Johnson stands tall against efforts by Senators Wiens and Renfroe to gut bill; weakening amendments soundly rejected

Posted April 30, 2008, Updated May 1, 2008

 

 

Senator Johnson


ACTION ALERT: Colorado Senate to vote on HB-1161

Senator Wiens expected to offer amendment to weaken bill; emails and phone calls needed

Posted April 27, 2008, Updated April 29, 2008


IT'S UNANIMOUS!

Appropriations Committee approves HB-1161 on 10-0 vote; Land and Water Stewardship Act sent to full Senate

Posted April 25, 2008, Updated April 26, 2008


ACTION ALERT:  Senate Appropriations Committee to hear HB-1161 on Friday

Emails and phone calls needed to ensure passage

Posted April 23, 2008


Senate Local Government Committee unanimously approves HB-1611

Bill shepherded through committee by Democrat Bob Bacon and Republican Steve Johnson; Powertech brings out big guns to no avail

Posted April 17, 2008, Updated April 18, 2008


Greeley City Council opposes uranium mining proposal

Powertech's Centennial Project now formally opposed by Greeley, Fort Collins, Wellington, and Timnath

Posted April 17, 2008


HB-1161, the "Land and Water Stewardship Act," to be introduced in Colorado Senate on Thursday

Supporters urged to contact Senators and attend hearing at Capitol

Posted April 15, 2008


WELLINGTON TRUSTEES VOTE 7-0 TO OPPOSE URANIUM MINING PLAN

Companion resolution passed to support HB-1161; Congresswoman Musgrave sends letter to trustees urging careful examination of project's impacts on residents; Powertech a no show

Posted April 8, 2008, updated April 14, 2008


Wellington Board of Trustees to consider uranium mining resolutions

One resolution expresses opposition to Centennial Project, the other support for HB-1161

Posted April 5, 2008, Updated April 7, 2008

 


Marostica "very comfortable" with uranium mining

Loveland politician sees no need for HB-1161 provision setting higher standards for ground water restoration; did he accuse opponents of falsifying petitions?

Posted April 3, 2008, Updated April 4, 2008


Navajo President to U.S. Congress: Navajo Nation will not allow in situ uranium leach mining on tribal land

"The science on this process is, at best, inconclusive, and, at worst,
points to increased radioactive contaminants in the groundwater after the mining operations cease."

Posted April 1, 2008


ONE DOWN, ONE TO GO

HB-1161 gains final House approval on lopsided 49-16 vote and heads to Senate; Loveland Representative Marostica argues for uranium leach mining, insults Musgrave

Posted March 31, 2008, Updated April 1, 2008  


HB-1161 passes second reading in Colorado House of Representatives

Powertech CEO Richard Clement declares support for ground water protection but objects to "burdens" imposed by bill

Posted March 29, 2008


"Model" Wyoming in situ uranium mining operation cited for multiple permit violations

Cameco Corporation, a Canadian company, is world's largest uranium producer; Wyoming regulators note "inordinate number of spills, leaks and other releases", "low level of corporate commitment" to environmental issues, and "groundwater restoration not a high priority"

Posted March 27, 2008, Updated March 29, 2008


Governor Ritter backs HB-1161

 

Colorado governor joins effort to protect valuable ground water from in situ leaching

of uranium

Posted March 26, 2008

 


Denver Post supports passage of HB-1161

Bill will "ensure that the water supplies vital to agriculture and municipal use aren't sacrificed in a new mining boom"

Posted March 22, 2008


Domestic wells in vicinity of uranium exploration drilling have "alarming" levels of radiation according to Texas ground water district

Goliad County files lawsuit against Uranium Energy Corp.; Powertech doing similar exploratory drilling in Weld County

Posted March 19, 2008


Salazar:  EPA has not assured me that risks to ground water from in situ leach mining are understood

Senator makes statement during committee hearing; points out that Powertech's project area is near population of 300,000

Posted March 15, 2008


HB-1161 sails through House Appropriations Committee on 10-2 vote

Ground water protection bill sent to full House

Posted March 14, 2008


South Dakota water regulators move to tighten regulations for in situ leach mining

Revisions are in response to Powertech's plans to mine in Black Hills

Posted March 13, 2008


 

  powertechexposed.com

 

 

 

Conoco's Trevino in situ leach processing plant and evaporation ponds - Hebbronville, Texas, 1982 (click for larger image)


Colorado Legislative Council releases report on fiscal impact of HB-1161

Cost of implementing ground water protection bill estimated at less than $30,000 per year

Posted March 10, 2008


Timnath Town Council calls on EPA, State of Colorado, and Weld County to "deny any and all permits" to Powertech Uranium Corp.

Fast-growing town just south of the Centennial project believes mining would do irreparable harm to its economy and environment

Posted March 4, 2008


Texas county intends to sue uranium mining company for contaminating well water

Lawsuit against Uranium Energy Corp. is the result of "a number of water wells that have been rendered undrinkable" according to Goliad County attorney

Posted March 3, 2008


U.S. Congresswoman Musgrave urges Larimer County commissioners to oppose Powertech's mine plans

Musgrave seeks to protect ground water for area residents; letter follows similar message to Weld County commissioners last month

Posted February 28, 2008


Uranium mining controversy hits Washington Post, CNN, Baltimore Sun, and international websites

Associated Press story looks at impact on Hedigers' organic wheat farm; Powertech CEO Clements repeats misleading description of ISL as a "closed-system"

Posted February 23, 2008, Updated February 26, 2008


Sign on State Highway 392 - Windsor, Colorado.  This business is 12 miles due south of the southern mining area.  Powertech has not ruled out using open pit mining for this area.  The uranium ore is above the water table, so typical in situ leaching methods are problematic.  Powertech has suggested using a "modified in situ" process involving flooding the mine area.  (Photo: Lilias Jarding)


Fort Collins Coloradoan supports HB-1161

Editorial board endorses provisions to protect water quality

Posted February 22, 2008


HB-1161 passes out of ag committee on 11-2 vote

Amended groundwater protection bill moves on to appropriations committee

Posted February 21, 2008


Sign near the Goliad ISL site - Weesatche, Texas.  Uranium Energy Corp, a junior mining company with administrative offices in Canada, is attempting to permit the Goliad Project and faces stiff local opposition.


Greeley Tribune endorses HB-1161 and HB-1165

Newspaper cites Summitville Superfund site and groundwater contamination in Texas

Posted February 15, 2008


Larimer County Environmental Advisory Board issues uranium mining report

Twenty-page document describes potential risks from in situ leach and open pit mines

Posted February 13, 2008


Kingsville Dome ISL uranium mine and processing plant - Kleberg County, Texas - Uranium Resources, Inc.


Powertech executive accuses opponents of spreading inaccurate information

Canadian complains that Coloradans are "not playing fairly"

Posted February 9, 2008, Updated May 16, 2008


Powertech releases quarterly financial statements

Cumulative losses reach $18 mil, cash burn rate increases to $1.5 mil per month, only $5 mil working capital left

Posted February 8, 2008


INTRODUCTION

 

     This site is dedicated to uncovering the facts surrounding Powertech Uranium Corp's stated plans to mine uranium in Weld County, Colorado.  Furthermore, its purpose is to protect the health, environment, property, and livelihoods of residents, landowners, and business owners by petitioning elected officials and government agencies on this matter of heightened public concern. 

     My family and I live on the prairie between the towns of Wellington and Nunn, Colorado.  Our land is about two miles west of the area that Powertech wants to mine.  Our water, and all our neighbors' water, comes from wells drilled into the Laramie-Fox Hills aquifer.

     After reviewing the history of uranium mining by the in situ leach and open pit methods, my opinion is that this project would likely contaminate the groundwater aquifer used by hundreds of well owners, disperse windblown radioactive dust over the Fort Collins/Wellington/Nunn/Ault area, and negatively impact the real estate market and general economic prosperity of this part of northern Colorado.

     Powertech proposes to mine on at least twelve sections of land, roughly 7,000 acres, located between the City of Fort Collins and the towns of Wellington, Nunn, and Ault.  One of the mining areas is six miles from the city limits of Fort Collins, and much of the mining area is located within the proposed growth management area of the town of Nunn. 

     The proposed project is generally referred to as the Centennial Project.  In fact, it is two projects: The "Indian Springs" project consists of the seven northern sections where in situ leach mining is proposed The "Centennial" project includes the five southern sections of land slated for sand and gravel mining followed by conventional open-pit uranium mining. 

     At the July 19 open house in Nunn, Powertech representatives suggested the company is considering an untested alternative to open-pit mining on the southern sections - flooding the area to saturate the shallow uranium deposits, followed by "modified" in situ leaching.  Powertech officials admit that this flooding process has never been attempted. 

     The Canadian corporation, incorporated in 1984 as Ararat Oil & Minerals Inc., has for most of its existence been a manufacturer of boilers and water heaters.  In May 2006, control of the publicly-traded shell corporation was transferred to the current goup of managers who announced that the company was now in the uranium mining business.  However, Powertech has never mined uranium, has never realized revenue from mining uranium, and has never obtained a permit to conduct uranium mining. 

     It has, however, raised more than $23 million in Europe and Canada by promoting and selling penny stock to investors.  The promotion of Powertech has been orchestrated from its head office in Centennial, Colorado and its corporate office in Vancouver, British Columbia.  The Vancouver address has been shared by at least six other Canadian penny stock firms in the recent past.

    

Jim Woodward

Wellington, Colorado, USA

jbw@frii.com

 

 

One of Powertech's proposed open pit uranium mine sites is 6 miles northeast of Fort Collins' city limits, 6 miles due east of the Fort Collins Soccer Club Complex, 4 miles northeast of Cobb Lake, 5 miles due east of the Colorado State University Agricultural Research, Development and Education Center, 6 miles northeast of the Anheuser Busch Brewery, 2 miles north of Black Hollow Reservoir, 8 miles northeast of the Fort Collins Country Club and Long Pond, and 9 miles northeast of Lindenmeier Lake.  (large map)

 

 

 

 

 

 

Site updated August 27, 2008


Stock price $0.87 Canadian
Market capitalization $48,223,247 CAD
Uranium mined - 2008 none
Mining permits held none
Operating revenue - FY 2008 $0.00
Uranium spot price $64.50 per pound

10K: C.A.R.D. petition signatures break through 10,000 mark.  Number of petition signatures supporting Powertech still at zero.


When uranium mining goes wrong

Is this the future of northwestern Weld County?

Source: http://www.epa.gov/region09/waste/sfund/navajo-nation/contaminated-water.html

Introduction  updated1/28/08

House Bill 1161  updated 5/29/08

Powertech stock price  updated 8/27/08

Upcoming events  updated 5/3/08

News stories  updated 7/10/08

Maps  updated 6/21/08

Uranium spot price  updated 8/26/08

Editorials & letters  updated 7/29/08

Technical & scientific information  updated 5/17/08

What is in-situ leach mining?

Opposition  updated 4/17/08

Too close for comfort?  updated 1/9/08

Project documents

Quotes  updated 3/8/08 

Blubaugh & Atlas Corp  updated 5/17/08

Permits & regulations  updated 3/19/08

Scorecard  updated 3/22/08

CARD & nunnglow.com  updated 5/26/08

Uranium, radium & radiation

Archived postings  updated 5/16/08

The Buzz 

Photos  updated 2/6/08

Company news releases  updated 2/23/08

Links  updated 3/31/08

Financial statements  updated 2/8/08

Contact your elected representatives
Contact me
 

www.powertechexposed.com - a defamatory domain name?

Powertech has threatened to sue me for using the domain name "powertechexposed".  Read my response here.  Updated July 3, 2008


POWERTECH NEWS RELEASES: IT'S ALL GOOD

Not surprisingly, Powertech has never released negative information about the Centennial Project in a news release to investors.  So don't hold your breath waiting for a news release about House Bill 1161, the CSU uranium mining survey, Marilyn Musgrave's opposition, or resolutions by the City of Fort Collins, the Greeley City Council, the Wellington Board of Trustees, the Timnath Town Council, or the Colorado Medical Society.


The No Uranium Song - written and performed by Russ Hopkins.  Order your CD here Download an MP3 for $1.00 here.  All proceeds to benefit C.A.R.D. in the fight against uranium mining in northern Colorado.


Retraction and clarification of posting regarding financial statement disclosures

Posted January 1, 2008


Note to Powertech's attorneys:

The First Amendment to the US Constitution:  Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.


Quote:

"Located just 10 miles from the booming college town of Fort Collins, the proposed Centennial mine is unusual for a North American uranium project in that it’s close to a population center. Most of the mines worked in the 1950s and ‘60s were in southwestern Colorado, a region of mesas, deep river canyons, and few people." from "The Uranium Boom Hits Western U.S." by Richard Martin, energytribune.com.  Energy Tribune is a website providing news and analysis to investors in energy stocks.
Posted May 26, 2008


Upcoming Events

...stay tuned

 

Powertech Stock

The company is listed on the Canadian TSX Exchange under the symbol PWE and on the Frankfurt Exchange under the symbol P8A.F.

 

TORONTO STOCK EXCHANGE (TSX)

PWE share price: $0.87 CAD (August 27, 2008 - Down 5.43% from previous day)

Volume: 5,500 shares

52-week high: $2.78 CAD

52-week low: $0.83 CAD

Shares outstanding: 55,429,020

Market cap: $48,223,247 CAD

$1.00 CAD = $0.958 US (8/26/08)

Data from TSX Group

 

FRANKFURT STOCK EXCHANGE

P8A.F share price: €0.60 EUR (August 27, 2008 - Up 0.84% from previous day)

Volume: 0 shares

52-week high: €1.91 EUR

52-week low: €0.54 EUR

€1.00 Euro = $1.472 US (8/26/08)

1-year  P8A.F (euros)

3-years  P8A.F (euros)

Data from Deutsche Börse Group

 

Spot price of U3O8 yellowcake as of August 25, 2008:

$64.50 per pound (Unchanged from previous week)

Source: www.uxc.com

(Note: chart is one week behind)

Uranium does not trade on an open market like other commodities. Buyers and sellers negotiate contracts privately. Prices are published by independent market consultants Ux Consulting and TradeTech.

 

ABOUT URANIUM PRICES


Powertech wellhead on Weld County Rd. 96 just west of County Rd. 23.  Note the lack of any barrier protecting the well from vehicle traffic.


 

New radiation warning symbol introduced by International Atomic Energy Agency on February 15, 2007

 


Powertech Partners Local companies or companies with a local presence that are helping Powertech turn northcentral Colorado into a uranium mining area:

 

Wells Fargo

Ingram Drilling Inc.

Drilling Engineers, Inc.

Bath Excavating


Thank you

Thanks to the friends, neighbors, public officials, anonymous sources, and others who provide inspiration, ideas, and content for this site - your contributions are greatly appreciated.


This website was born on June 4, 2007.


Known Recoverable Resources of Uranium

tonnes U   % of world
Australia           1,143,000   24%
Kazakhstan 816,000   17%
Canada 444,000   9%
USA 342,000   7%
South Africa 341,000   7%
Namibia 282,000   6%
Brazil  279,000   6%
Niger 225,000   5%
Russian Fed. 172,000   4%
Uzbekistan 116,000   2%
Ukraine 90,000   2%
Jordan 79,000   2%
India 67,000   1%
China 60,000   1%
Other 287,000   7%
World total  4,743,000   100%
     
Reasonably Assured Resources plus Inferred Resources, to US$ 130/kg U, 1/1/05, from OECD NEA & IAEA, Uranium 2005: Resources, Production and Demand.

http://www.world-nuclear.org/education/mining.htm


Areas where uranium mining is currently banned:

 

State of Virginia, USA

Navajo Reservation, USA

Province of British Columbia, Canada

Province of Nova Scotia, Canada

Inuit Lands, Labrador region, Canada

State of Queensland, Australia

State of Western Australia, Australia