Powertech pays brother-in-law of South Dakota governor to promote Dewey Burdock ISL uranium mine

Governor Mike Rounds claims he didn't know

Posted December 7, 2008

Atomic Energy Act may prohibit a foreign company from operating ISL mines

Nuclear Regulatory Commission to make determination in Nebraska mine license renewal case; national security issues to be considered; decision could affect Powertech and the Centennial Project

Posted November 26, 2008, Updated November 28, 2008

Powertech releases financial statements, delays Centennial Project permitting

Can Powertech submit South Dakota permit applications and attract more equity capital before running out of cash?

Posted November 22, 2008, Updated/Corrected November 25, 2008

Uranium price crash begins to take its toll

Uranium Resources Inc. begins shutting down Texas ISL wellfields; profit margins are squeezed; company expects production and exploration to cease entirely by April 2009 unless uranium prices recover

Posted November 14, 2008

Report by hydrogeologist finds Texas in-situ uranium mines have been unable to restore ground water aquifers to premining water quality

State regulators routinely approve leaving higher uranium levels in ground water; author questions mine operators' scientific understanding of aquifers

Posted October 24, 2008

Powertech and other uranium stocks headed lower due to hedge fund sell-offs and credit crisis

Investment strategist says stay away from uranium mining companies; suggests uranium price could fall below $25 a pound; selling price could drop below cost of production

Posted October 12, 2008

"Most comprehensive report ever compiled" on ISL uranium mine restoration shows water is worse than before mining started at most mines

Texas County sues mining company over threat to ground water; county attorney claims baseline water testing is faulty

Posted September 23, 2008

RESOLUTION REDUX:  Governing bodies of Fort Collins, Greeley, Wellington, Timnath, and Ault come out forcefully against in-situ leach and open pit uranium mining in northern Colorado

For the first time, five local government resolutions are published in one place

Posted September 21, 2008

HOLD ON!  Powertech shares plummet 14% on Toronto Stock Exchange, 16% on Frankfurt

$58.8 million CAD of shareholder value wiped out in less than 15 weeks

Posted September 16, 2008

Powertech contractor drilling exploration borehole east of Weld County Road 17 and north of Weld County Road 106.  The Colorado Division of Reclamation, Mining, and Safety approved Powertech's new exploration drilling program on August 27.  Note the friendly signage, including the small green sign with the fictitious domain name and advice to "find truth in the facts".  Does that include facts such as aquifer restoration data from the Texas Commission on Environmental Quality showing 17 in-situ leach uranium mines that were unable to clean up elevated levels of uranium in the ground water?  Photo taken August 27, 2008 courtesy of H. Mike Williams. 

Texas in-situ leach uranium mines failed to restore ground water to premining condition

Texas Natural Resource Conservation Commission agendas from 1990s reveal that relaxing water cleanup standards is routine

Posted September 7, 2008

After in-situ uranium leaching, ground water cannot be returned to the way it was

Nuclear Regulatory Commission official and uranium mining executive acknowledge restoration of aquifer to baseline is unachievable

Posted September 3, 2008

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

Archived postings

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 December 18, 2008

One-year chart of uranium spot prices www.uxc.com

One-year chart of Powertech stock listed on the Toronto Stock Exchange (TSX)

Will the Belgians throw good money after bad?

On June 4, 2008, Belgian firm Synatom invested $9 million CAD in Powertech Uranium Corp.  Six million shares of stock were issued at $1.50 CAD per share.  The value of Synatom's stake has dropped to $2.1 million CAD as of December 18, 2008.  Synatom's investment has fallen 77% in 197 days, for an unrealized loss of $6.9 million CAD.

See story: 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

10K: C.A.R.D. petition signatures break through 10,000 mark.  Number of petition signatures supporting Powertech holding steady 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

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

Spot price of U3O8 yellowcake as of December 15, 2008:

$53.00 per pound (Down 1.85% from previous week)

Source: www.uxc.com

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.

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

Greenland