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Powertech Closes Colorado Office, Says Focusing on South Dakota Uranium

Canadian uranium digger Powertech isn't looking too rosy for investors. After several months in which its stock price has tumbled nearly 80%, Powertech apparently can't even afford to continue leasing an old house in Wellington, Colorado, as a local office.

Perhaps to reassure South Dakota State Representative Lance Russell that the uranium lease near Custer that he helped his mom finagle will still be worth something, Powertech tells the press that they will focus now on digging for that special glow in the Black Hills. If Powertech can't afford an old house in Colorado, it will be interesting to see where they come up with the cash for actual mining equipment to operate regularly and safely in the Black Hills. Regulators and investors, cast your wary eyes on Powertech.


  1. Roger Elgersma 2011.08.29

    Thank Japan for this one.

  2. Douglas Wiken 2011.08.30

    Thank General Electric in Japan for this one.

    Uranium power is a dirty past for energy. Thorium salt reactors should be driving mineral exploration and development and our South Dakota colleges and university physics, electrical engineering, and chemistry departments should get into thorium reactor development and research.

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