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« Uranium spot price eases to $68/lb-$69/lb | Main | Jordan’s Uranium for a French Nuclear Plant »

Aurora Energy after the vote!

The Labradorian logo 15 April 2008
The minister for Lands and Resources, William Barbour said: “the message the government is sending to the communities is not that they are anti-development, but rather they are taking time to ensure there is responsible development taking place on Labrador Inuit Land.”

Endeavouring to get a handle on the situation regarding Aurora Energy we came across this article carried by The Labradorian entitled 'All is not lost'

The minister went on to say that: “Just looking at the economy and job loss is looking with tunnel vision. We need time, we can't be forced into decisions that are rushed. Our time lines are important as well, "

So it now appears that Aurora Energy will have to wait three years while the government compiles a land use plan, formulates its own environmental assessment legislation and staffs up a land and resources division.

The bottom line would appear to be that uranium mining can be accommodated, however, it has to be implemented correctly with all due care and attention to the regulations, once they are compiled.

Dr. O'Dea said "We strongly believe that we can demonstrate to the Nunatsiavut government that uranium mining can be safely carried out, with the utmost care for the integrity of the environment and that Aurora-Energy representatives would continue to hold public discussions on uranium mining. "

Maybe as the the land use plan takes shape some relaxation could be afforded to Aurora to enable them to carry out preparatory work we as move forward?

All we can do now is wait and see!

Aurora Energy is currently trading at $3.95, down from a 2007 high of almost $20.00, has a market capitalisation of $289 million and is not for the faint hearted.

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Reader Comments (1)

Thanks for the regular updates. They are very welcome in these dark days, makes me realize I'm not the only one that sees a bright future for nuclear -- but, man, there have been days where I've asked myself, "Are you insane? How could you invest almost everything in such a loser?" Then I step back and reevaluate things, along with your messages, and I project into the future and am satisfied that many wars over oil will be avoided when nuclear is adopted by the World.

April 15, 2008 | Unregistered CommenterDan L

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