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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Uramin Inc | LSE:UMN | London | Ordinary Share | VGG9298V1067 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 389.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7941X UraMin Inc 05 June 2007 NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES URAMIN AND NORTHWESTERN JOINT VENTURE ANNOUNCES US$19 MILLION PRIVATE PLACEMENT June 5, 2007 - UraMin Inc. (TSX: UMN; AIM: UMN) and Northwestern Mineral Ventures Inc. (TSX-V: NWT) and are pleased to announce that the joint venture company they have agreed to form has entered into an agreement with Haywood Securities (UK) Limited for a private placement to raise gross proceeds of US$19 million. The proceeds of this private placement will be used to fund the activities of the joint venture company, which will advance eight highly prospective uranium concessions in Niger, as detailed in press releases dated June 4, 2007. At closing, the joint venture company will have a treasury in excess of US$30 million. The private placees will acquire a total of 23% of the joint venture company, while Northwestern and UraMin will each maintain a 38.5% interest. The formation of the joint venture company remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. At closing, Haywood Securities (UK) Ltd. will be paid a 6% cash commission on gross proceeds. Haywood will also be granted broker warrants equivalent to 6% of the private placement financing at the private placement price. These warrants will expire 24 months from the closing date. ABOUT NORTHWESTERN: Northwestern Mineral Ventures (www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT." ABOUT URAMIN: UraMin (www.uramin.com) was established in 2005 to acquire and develop mineral properties, predominantly uranium. UraMin is focused on advancing its 100%-owned Trekkopje uranium project in Namibia to the completed Definitive Feasibility Study ("feasibility study") stage. A trial mine is planned for the fourth quarter of 2007 and commercial production is planned for late 2008. The Company also has a feasibility study underway at its 90% owned Bakouma uranium project in the Central African Republic and on its 74%-owned Ryst Kuil uranium project in South Africa. SRK is the lead consultant for the Ryst Kuil Project. UraMin intends to bring these near surface open pitable projects into production, utilizing efficient mining and processing methods currently in practice worldwide in similar deposits in a cost effective manner. UraMin also has a number of exploration projects in both Africa (Chad, Niger, Senegal and Mozambique) and joint venture projects in Canada (the Rea Project within the Athabasca Basin in Alberta and the Labrador Project in Quebec) on which it is advancing exploration programs that could provide a pipeline of potentially economic uranium projects for the future. FURTHER INFORMATION: UraMin Inc Ian Stalker Chief Executive Officer Neil Herbert, Finance Director Tel: +27 11 783 5056 Nominated Advisor Canaccord Adams Limited Robin Birchall Tyler Broda Tel: +44 20 7050 6500 Toronto Steve Vaughan Tel: +1 416 643 6924 Northwestern Mineral Ventures Inc Marek J. Kreczmer, M.Sc., P.Eng. President and CEO (866) 437-9551 info@northwestmineral.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of either Northwestern or UraMin are forward looking statements that involve various degrees of risk. The following are important factors that could cause the actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. This information is provided by RNS The company news service from the London Stock Exchange END MSCKGGGVMKRGNZM
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