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They are currently burning through cash at over $1 mil per month -- at this rate they'll last less than 10 months without selling more stock. Growing concerns over their desired location is an issue very unlikely to go away any time soon. In fact, Fort Collins City Council recently sent a unanimous request to EPA, State of Colorado, and Weld County to DENY ALL PERMITS. Even the Colorado Medical Society (consisting of more than 6,800 physicians) are joining the opposition against mining Uranium in this remote area. Bottom Line: things are looking more and more bleak for this company, and unless positive news is revealed any time soon I suspect Powertech Uranium may not be around a year from now.
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