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UMN Uramin Inc

389.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
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 Shares Traded Last Trade
  0.00 0.00% 389.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 389.00 GBX

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Date Time Title Posts
17/2/201010:43URANIUM!!1
12/9/200715:43UraMin-Uranium producer in the near term2,554
23/7/200719:03URAMIN INC - THE NEXT NUMBER ONE URANIUM PRODUCER10
30/5/200709:34Uramin Inc17
21/2/200722:24! -- Uramin Inc - Goes Nuclear -- !6

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Posted at 21/6/2007 10:52 by papillon
Hi seagreen, why are you so categoric in your assertion that there will be no counterbid? What is your source of information that enables you to be so catagoric? Do you have inside information? I admit the current share price is not indicating one. Netsdeal, I reckon the bid is currently worth at least US$7.85; the cash bid of US$7.75 plus at LEAST US$0.10 for the "Niger" spin off based on the 23% stake sold for US$19 million recently. At the current exchange rate that equals £3.94. Bang in line with the current share price so I'm prepared to hold on in the knowledge that I will receive as many shares as possible in the "Niger" spin off, which could catch the Markets imagination when it floats. Who knows? Punters seem to be on the look out for UMN 2. With that in mind I topped up in UEP this morning. Continuing to go up after I bought. I'm concentrating on the explorers looking in Africa because despite the geo-political risks It appears to be much easier and quicker to start a mine in Africa. So I'm holding BRM, URA and UEP as good gambles. relko, yes obviously if Areva don't get 75% of acceptances their bid for UMN will lapse but I can only see that happening if we get a counterbid, which the share price at this moment in time (and seagreen!) are discounting. The other risk, though much less damaging, is if the US$ continues to weaken (I've got it right this time Netsdeal!) thus reducing Sterling value of the bid.
Posted at 18/6/2007 16:21 by netsdeal
it's possible, GSands, but VML seems to be more of a cup of tea to GCL and GCL got into VML a few times at a much lower price than the prevailing market price (so makes a lot more money than if we invest in VML ourselves).

Since EMC/EMU is now pretty much SXR, another candidate to switch to is perhaps FSY, which is very similar to UMN. Moreover, its share price has come down a lot, together with many other good u stocks, and is hence a lot more attractively priced than UMN at the moment. In fact, it has gone up by some 20% since Areva's bid to UMN was confirmed.

Of course, it has a much smaller chance of a double than TSX:BRD.
Posted at 16/6/2007 10:29 by papillon
SAGEM, re that PLUS MKTS Uranium tiddler YEL. UMN was by far its biggest investment in its portfolio. At least a 1/3rd of the portfolio earlier in the year. UMN share price now much higher. They bought pre IPO. Currently they have had a 10+ bagger. Not a bad return in 18 months. Good bit of stock picking! What with their small investment portfolio of uranium miners and a recent JV with CanAlaska in a Athabasca Basin prospect (a very prospective area) they must be a good speculative punt at a Mkt Cap of around £2 million. They are worth looking at Martin, though not for widows and orphans. But currently a very low Market Cap for a speculative Uranium play when you compare with the likes of URA, UEP, MUU, ZRL etc which have Mkt Caps up to 10 times higher. I have shares in all these companies. INDY also has a Canadian uranium JV, plus investments in a few other listed Canadian explorers. Similar Mkt Cap to YEL. Could be worth a punt. I also have shares in INDY.
Posted at 15/6/2007 19:38 by papillon
Martin I wonder if TSE:FSY will go the same way as UMN? After its big drop it begins to look rather attractively priced. Could be one to invest in. Production starts in 2009. I like the look of BRM. Price might drop back a bit more but they are currently drilling. Got cash. Already got U reserves. Very near to UMN site in SA. I have around 200k shares in URA but obviously very speculative. As SCR found out with their Molybdenum prospect in China good samples from surface and trenches didn't mean a commercial prospect when they drilled. ASX/TSE:PDN has got good reserves in both Namibia and Malawi. Its already a producer. Its the safest one but also has excellent prospects. Price has come back in the last month so is now attractively priced again. I'm still holding on to my UMN. The bid acts as support and I believe there is still potential for a higher bid. As I said in an earlier post I thought UMN was worth at least £5 now but feared the Directors wanted to cash in so might accept a lower bid; which they did. I was critised at the time, by some, for saying that. But it unfortunately turned out to be correct. Bought UMN heavily at the start of the week so now have around 38k shares.
Posted at 15/6/2007 13:20 by wassapper
15 June 2007



AREVA Announces US$ 7.75 Per Share Friendly Cash Offer for UraMin



• 100% cash offer

• Attractive premium of 21% over UraMin 20-day average share price(1) as of
June 8, 2007

• AREVA and UraMin entered into a support agreement in respect of AREVA's
offer to acquire all the outstanding UraMin shares by way of a take-over bid

• Full support of UraMin Board of Directors

• Lock-up agreements in respect of approximately 25% of shares

• An acquisition which perfectly fits into AREVA's strategy to significantly
increase its uranium production in the medium term


Paris, June 15, 2007 - AREVA and UraMin Inc. ('UraMin') today entered into an
agreement in respect of AREVA's friendly cash offer for 100% of the share
capital of UraMin (the 'Offer'). UraMin is listed in London (AIM) and Toronto
(TSX). AREVA (Euronext Paris) already owns 5.5% of UraMin's share capital.

This cash offer of AREVA will be made through its indirect wholly-owned
subsidiary CFMM Developpement ('AREVA') based on a price of US$ 7.75 per UraMin
share. The total offer consideration amounts to more than USD 2.5 billion for
100% of the fully diluted share capital of UraMin(3). This represents a premium
of 21% over UraMin 20-day weighted average trading price1 ending on June 8, 2007
(2).

The UraMin Board of Directors, after consulting with its financial advisors, has
determined that the offer is fair and in the best interest of the UraMin
shareholders and it has resolved to recommend acceptance of the Offer. BMO
Capital Markets has provided an opinion that the offer is fair, from a financial
point of view, to the UraMin shareholders.

In connection with the offer, all directors and certain other shareholders
representing approximately 25% of the outstanding UraMin shares (calculated on a
fully diluted basis) have entered into lock-up agreements with AREVA pursuant to
which they have agreed to tender all their UraMin shares to AREVA's offer.

The support agreement entered into between AREVA and UraMin provides for, among
other things, in case a superior proposal is accepted by UraMin, a right to
match in favour of AREVA.

The support agreement also includes a break up fee in favour of AREVA of US$ 75
million under certain circumstances.

The offer and take-over circular will be mailed to UraMin shareholders in the
coming days. The offer period will be open for not less than 35 days. The offer
is conditional upon, in particular, the tendering of a minimum of 75% of the
outstanding UraMin's shares on a fully diluted basis, including the 5.5% shares
held by AREVA.

Concurrently with the closing of the proposed offer, UraMin will declare a
dividend payable in shares of the capital of Niger Uranium Limited held by
UraMin (where permitted by law) or a cash equivalent of the value of such
shares. Further details will be provided at the time of the mailing of UraMin
Directors' Circular.



=====



(1) Calculated based on UraMin's 20-day volume weighted average trading price on
the Alternative Investment Market of the London Stock Exchange ending on June 8,
2007

(2) Last trading day prior to the date on which UraMin announced it had entered
into negotiations regarding a potential sale of the company

(3) The existing number of UraMin shares is currently about 277M. Given the
number of options and warrants that have been emitted, UraMin share capital is
made of 323M of shares on a fully diluted basis




'UraMin has benefited from its founders' dynamism and know-how to identify
significant mining resources on the African continent. The commissioning of
these assets would enable AREVA to develop and further diversify its sourcing,
thereby securing its clients' long term uranium needs.



UraMin's acquisition perfectly fits into AREVA's strategy in the mining sector.
It will allow combining the mining resources of both companies, as well as their
respective human expertise. For AREVA, it will result into a significant
increase of its uranium production in the medium term.



Through the main projects, located in South Africa, Namibia, and Central African
Republic, AREVA plans to reach a yearly production of about 18m Lbs of U3O8 by
2012. AREVA has the technical and commercial capabilities to rapidly commission
UraMin projects and market its production. explains Olivier Mallet, AREVA Senior
Executive Vice President of the Mining, Chemistry and Enrichment sector of
AREVA.



Mr. Stephen R. Dattels, UraMin's founder and Executive Deputy Chairman said
today that 'UraMin's potential production capability gives AREVA the opportunity
to strengthen its position as one of the largest uranium producers in the world.
Combined with the integrated business model of AREVA all along the nuclear value
chain, access to long-term sources of uranium will reinforce AREVA's ability to
provide security of supply to its costumers. For UraMin's shareholders, the
proposed offer by AREVA provides a unique opportunity to realize an attractive
premium today and to participate in an exciting new uranium vehicle with drill
ready properties in Niger.'



Mr. Dattels went on to say, 'I would like to thank the directors, management and
employees of UraMin for their tremendous contribution since the inception of
UraMin in 2005. Their hard work and vision enabled us to create over US$2.5
billion of market value in just over two years time, making UraMin a major
success story in the mining sector.'



BMO Capital Markets is acting as financial advisors to UraMin and Heenan Blaikie
LLP is acting as legal counsel to UraMin.



NM Rothschild & Sons Canada Limited is acting as financial advisor to AREVA and
Blake Cassels & Graydon LLP is acting as legal counsel to AREVA.





FOR FURTHER INFORMATION ON THE OFFER:



A conference call will take place today, June 15, at 4:00pm CET.

To reach the conference, please call:



- From France: +33 (0)1 70 99 42 66

- From North America: +1 718 354 1357

- From UK: +44 (0)20 7138 0817



To access to the slide-show, click on the following link:
www.finance.areva.com/20070615/uramin/
Posted at 14/6/2007 18:29 by papillon
The Swedish investor with his own web site www.loparn.com (its in English as well as Swedish) has calculated a 2007 target price of C$12.65 for UMN. His analysis is very detailed and mathmatically rigorous. I think his analysis makes sense and is suitably cautious. He also reckons that any bid for UMN below C$11 would be a steal. A lot of posters on the advfn bb's like giving price targets but rarely, if ever, give the details, calculations, assumptions and figures necessary to back up their target. C$12.65 equates to £6 per share and C$11 equates to £5.22 per share. I was using loparn's figures when I said earlier today that UMN is currently worth at least £5 per share. Its possible that the Directors could accept a bid lower than £5 per share because they have been more cautious in their assumptions about the future earnings of UMN. After all what UMN will be earning in 2011, when in full production at Trekkopje, is dependent on a number of variables. What value you ascribe to those variables in 2011 affects your current value of UMN. Areva will know what they think UMN is worth to them, but they will obviously try to obtain a bargain and pick UMN up at a cheaper price. If UMN is as desirable as the majority of investors on this bb think then its possible that another bidder(s) might top any bid by Areva. We are not privy to the negotiations and can only guess at the final outcome.
Posted at 14/6/2007 16:50 by utwiq
True enough; and the fact that Areva (apparently) are talking openly about UMN being in talks with multiple parties may suggest an auction is a very real possibility. I have to say I thought the same thing with EMC and was disappointed at the price offered by SXR. We should see soon enough I guess, and even a miserly offer - say £4.00 (so a 20% premium to pre-announcement) - would underpin the share price. Well no, lift the share price and then put a high floor under it. So - famous last words (and full disclosure: I bought into GLA, so my holding is indirect and I'd like a quick cash exit) - these shares look fairly low risk!
Posted at 12/6/2007 16:44 by papillon
liam1om, the "market" probably thinks that about £4 is what UMN is going to go for. Don't forget that though UMN was "cheaper than both of its peers, FSY and PDN, both on an asset and future PER valuation they have both dropped significantly in the last 4 weeks. FSY from around C$10 to C$6 and PDN from around C$10 to C$8 in that time. They are big drops in a short time span. Obviously the "market" thought the sp's were ahead of the game. It appears that the "market" had already priced in some bid premium already (it was an open secret that UMN was up for grabs) when the share price was over £3, otherwise I think we might have experienced some short term profit taking as experienced by the other 2 Namibian U3O8 producers and near term producers (PDN and FSY) However I think that the "market" is being too cautious and UMN will go for around £5 per share. Why? Well It looks like there could be at least 2, maybe more, companies interested in UMN (we know AREVA is and they have said other companies could also be interested). The UMN Directors appear to be keeping their options open so are probably hoping for a bid battle. That means the "winner" might pay a bit more than they expected. Lets hope so.
The Directors seem determined to "cash" in on UMN so I think it will definitely be sold; just have to wait for the price. In a few years time the UMN share price could be much higher if it stayed independent but the Directors probably feel a bird in the hand is worth 2 in the bush. However if there is no bid for the company I can see the share price going back to £2.70. Hopefully that won't happen, but that could be another reason why the "market" is currently cautious.
Posted at 10/6/2007 16:15 by papillon
e t, we all know that uranium is quite common in the Earth's crust; also that the price is bound to come down once supply increases, but the beauty of investing in UMN is that it is a very near term producer and should make hay while the price of yellowcake stays high. I think you will find that most analysts expect the yellowcake price will come down after 2012 and the UMN share price is reflecting that assumption. But UMN will have 4 years of high prices to make a "killing". Don't forget it can take many, many years to start a mine after making a discovery. I'm sure the U bubble will burst one day; bubbles always do, but I don't think one can compare UMN with the dotcom boom. For a start UMN has assets whereas most dotcom companies had NO assets. You could compare some of the U explorers to dotcom companies however because most will never find commercial quantities.
Posted at 01/6/2007 21:17 by papillon
Finished at C$7.13 on TSE. Equates to 339p. The trouble is the C$ is only 2.10345 to the £. When UMN originally listed on the TSE in December 2006 the exchange rate was around 2.32. If it had stayed like that then TSE:UMN would be around C$7.86 if one took the AIM price as the true value of UMN. I think I'm entitled to take the LSE:UMN price as the correct one because the exchange rate between the US$ and the £ is roughly the same now as it was when UMN floated on the TSE, and lets be fair the US$ is always the key currency when valuing any resource stock because it is the "world" currency and raw materials are priced in US$. So the C$ has appreciated by around 10% against the US$ since UMN floated on the TSE. If it had not done so then TSE:UMN price would be around 7.80 today and the chart of TSE:UMN would look different to what it does now.
Uramin share price data is direct from the London Stock Exchange

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