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Uranium Resources, Inc. (URRE) Message Board

  • afp4u afp4u Feb 22, 2012 5:27 AM Flag

    Party Has Just Started.

    I dwelled a little further into the notion that some of the blogs and documentation I've been reading on the New Mexico mining site and the ENDAUM committee was skewed. Here is a list of the most recent conclusions to date starting from the real reason into filing the complaints back in 1996. It shows that not unlike a certain Texas town and rancher that the issue always comes back to the money. The Navajo nation has a legitimate concern about unpaid uranium mining royalties and water contamination from the previously bankrupted sister company of Hydro Resources. The Navajo nation successfully renegotiated for a bigger slice of the royalty pie in the coal industry and I expect they want more of the same here. I also note the money prospects seemingly outweigh any water contamination issues in my opinion. I have read an outrageous amount of material to make a simple investment decision. I also need to restate my resources as some of the information that I received and posted was inaccurate and I apologize for that. The final outcome is based on an injunction that is currently presented by legal representation of the ENDAUM committee.
    Here is a historical archive of this information dated back to 2008.
    10/11/2011 - ENDAUM requests hearing on motion for summary judgment.
    09/01/2011 - ENDAUM requests judgment that the NMED has no authority to accept HRI’s application as a discharge permit renewal.
    07/15/2011 - NMELC files Plaintiff’s Motion for Preliminary Injunction and supporting documents for client, ENDAUM.
    06/27/2011 - On behalf of ENDAUM, NMELC filed a letter demanding New Mexico Environment Department issue a notice to HRI that their discharge permit has not been renewed based on documents obtained that show high-ranking employees of the NMED have been improperly influencing regulatory decisions of the Groundwater Quality Bureau.
    05/13/2011 - NMELC files a petition with the Inter-American Commission on Human Rights seeking to halt a uranium mining operation in the Navajo villages of Church Rock and Crownpoint, N.M
    11/15/2010 - U.S. Supreme Court denies review of decision to allow in situ leach (ISL) uranium mining in the Church Rock and Crownpoint communities.
    09/15/2010 - NMELC files an appeal to the U.S. Supreme Court to reverse the 10th Circuit Court of Appeals decision to allow in situ leach (ISL) uranium mining in the Church Rock and Crownpoint communities.
    05/18/2010 - The 10th Federal Circuit Appeals Court denies request for En Banc Rehearing.
    04/22/2010 - NMELC files Petition for Panel or En Banc Rehearing to the 10th Federal Circuit Appeals Court.
    03/08/2010 - The 10th Federal Circuit Appeals Court in Denver, CO returned with their decision upholding the NRC license allowing HRI to mine for uranium in Crownpoint’s municipal water supply.
    05/12/2008 - Oral arguments are heard in 10th Circuit Court of Appeals in Denver, CO. Currently we are waiting to hear judge’s decision.
    In conclusion the company has stated that it will continue to complete its projected goals for mining resources and operational readiness to be in place and completed by year end 2012. The company also states that mining the ore will commence by Q1 2013. I notice the higher court refusing to hear the case. I note the UIC permit was renewed and is currently in stasis due to the ENDAUM injunction. The company says it will not stop with the development, placement, and implementation of its intended mining project. IMO I can see an 80 percent chance of 5 dollars a share come March. I see many quarters of profit on 6.5 million pounds of Uranium worth around 395-425 million dollars. I can see a cost of 47 million dollars to initially build the project to completion. I can take that to the bank. Daytraders will continue to work the stock. I will now hold for the premium pps.

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    • "Party Has Just Started"????

      The party has been going on for 3 years.

      A few guys.
      Trying to hang on to what they percieve to be "their" pile of ore.
      Hoping the big boys don't take it from them.
      And willing to "party up" stockholder equity too do so.

      Recall how quickly Gallagher transitted the board room.
      And how much it cost YOU.
      REMEMBER what your BOD gave him?
      That entire affair smelled.
      And I said so at the time in this forum.

      And Lueras isn't very visable anymore either, is he?

      NO! the party isn't just starting, it's been raging.
      And it won't end until all the equity is gone.

      Stockholders MAY win, and they may loose it all.
      Either way, those "few" guys are doing just fine.

      This thing should have been sold 3 years ago.
      Every stockholder would be in better shape today.
      Not so the BOD.

    • Thanks for the excellent info, afp4u. And for anyone who would like to review this further, and perhaps review the actual plaintiff filings and arguments, here is the link:

      Afp4u- do you know where we might find the defendants' filings or the court's findings? (I can't search at the moment.) I'm not clear as to whether the 9/01 request was denied and thus the 10/11 request for the hearing, or if that is just standard operating procedure.


      • 1 Reply to apalobills
      • I would have posted earlier but I got side tracked on a project for the Air Force. It seems that two people both who are representatives for the ENDAUM have a couple of small parcels of land right across the street from the HRI INSITU processing facility. Eyes on the royalty prize so to speak. HRI had a discharge permit that was renewed in 1996. Per law the discharge permit is only good for a period of 5 years and possible max of 7 years. HRI managed to convince the Deputy Director at the NMED to issue a renewal permit while the Chief Director was on vacation last year. However the ENDAUM representatives who were quite aware of the laws and had copies of the (made very public) only permits issued noting that HRI failed to renew its permit in 2003 and 2007. This would require that HRI pay and wait for a new permit (still trying to get the cost). Then ENDAUM noticed the post of HRI getting a renewal knowing full well that this was wrong because they let the old permit lapse. ENDAUM informed the director of the renewal and in their injunction accused HRI of conspiring with the deputy director to overlook the outdated permit and try a grant a renewal. The idiot in HRI who concocted this little scheme got burned and I hope UR had the sense to fire this man. I heard, and this is just a rumor (well informed rumor), that in exchange for dropping this injunction. The Navajo Nation will get an undisclosed amount of UR shares from the last public offering and an undisclosed amount of HRI/NR royalty back pay plus interest and legal fees. I was also told that the Navajo Nation will also get any royalty increase from HRI or UR in mining on any Indian lands. This will be disclosed; as a settlement has been reached during the March 8 hearing. Then HRI will have to apply for a new permit which is why they stated it would be April before a permit was realized. If I can find out what a new discharge permit would have cost VS the HRI idiot who didn’t know the Navajos were well educated move. I would hate to think what might initially have cost HRI/URI 50 grand may end up costing HRI and URI millions in the end. Still the scuttlebutt on the street is… It has been all worked out with the Navajos. I also heard the Deputy Director was just an oblivious dupe to listen to the HRI rep at all. The ENDAUM was just waiting for a stupid move like this and has been see as payback for getting the shaft for a couple of decades. Call it Karma? Still the proposed outcome seems to be positive and I hope this matter is settled once and for all.

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