Lithic Metals (SEE LSE:AFNR) Share Discussion Threads

[giantpeach2] 25/9/2009 10:25

cheers nevgroom

[nevgroom] 25/9/2009 10:23

63641 - on plus

[giantpeach2] 25/9/2009 10:21

not showing yet, how many you buy kennyruss

[kennyruss] 25/9/2009 10:16

looks like my buy just ticked it up....

[fairdeal2008] 24/9/2009 10:54

Another quirky one:



mkt cap = cash at bank

silly really

[fairdeal2008] 24/9/2009 07:32

and if anyone mentions rare earth metals???

[fairdeal2008] 24/9/2009 07:31

What uranium??

[imperial3] 23/9/2009 23:03

What about their uranium potential?

[fairdeal2008] 23/9/2009 22:41

What strategic review???

:-)

[themoneymonster2] 23/9/2009 22:24

I agree. Nothing that people didn't already know and just stating the obvious. A nice target price would have been sufficient.

[imperial3] 23/9/2009 19:50

Encouraging report.

[fordtin] 23/9/2009 18:56

Did I miss it, or did they totally forget to mention the strategic review!

[fairdeal2008] 23/9/2009 18:04

Thats a detailed report!!

[laserdisc] 23/9/2009 17:11

wh ireland notes

[imperial3] 23/9/2009 08:32

Weigh up the risk/reward ratio.Positive news.Draw your own conclusions.

[giantpeach2] 23/9/2009 08:28

This now reponding to possible news friday then!!!

[giantpeach2] 23/9/2009 08:04

news friday then, cant wait!!

[ceckyspunt] 22/9/2009 23:21

Next prelim announcement 25- Sep- 2009

[fairdeal2008] 22/9/2009 23:15

My guess is cash around £1.5 to £1.7mn... maybe a little mor or less...

Assets are pretty tasty and, without more drill data, diffcult to stick a value on. It is what is planned by the third parties that intrigues me. they have gone to a lot of fuss to get to where we are now.

Holding an waiting...

[imperial3] 22/9/2009 22:46

Coming back to LMY,which is the object of the exercise,the market capitalisation is a mere £4.4 million currently.To me,this simply does not stack up.Just look at the cash in the bank,and their assets.Surely it has to be way beyond this figure.The market has not captured this on its radar,-this is in spite of the recent RNS announcement,which perversely seems to have put us in limbo land.Frankly,I can see only positive news ahead,otherwise,why would the directors,bother,what they are doing now? When these will turn,will we not see a spike upwards? My belief is we shall see far more upside potential,than downside.That is the risk I am prepared to take,and for that reason I am in these.Purely my thoughts.Naturally DYOR,and INMHO.

[fairdeal2008] 22/9/2009 21:59

It makes nice conversation whilst the wheels grind.... Not too happy with the rather limited newsflow, but that recent rns kept me interested....

[imperial3] 22/9/2009 21:53

Interesting,but what has this got to do with LMY?

[jester jim] 22/9/2009 14:09

Notwithstanding our focus on projects with near-term potential, Niger Uranium
continues to look for new locations, opportunities and assets to enhance our
portfolio of commercially viable uranium properties.


I would like to re-affirm our strategy, which governs all of our operations:
Niger Uranium will act as a pure uranium investment, exploration and mining
development company, one that will move into production earnings through the
development of a diverse portfolio of uranium properties. Our mandate can be
summed up in five key points. We will:

[jester jim] 22/9/2009 14:09

out today

Annual Financial Report (Niger Uranium)



TIDMURU

RNS Number : 4539Z
Niger Uranium Limited
22 September 2009





For immediate release
22 September 2009
Niger Uranium Limited


("Niger Uranium", "NUL" or the "Company")


Audited Results for the year ended 31 March 2009


The Company announces its audited results for the year ended 31 March 2009. The
Company will be posting a copy of the report and accounts to shareholders on or
before 30 September 2009. A copy will be available from the Company's website,
being www.niger-uranium.com, from Thursday 24 August 2009.
CHAIRMAN'S STATEMENT


I am delighted to present to our shareholders and stakeholders the second annual
report and accounts from our company. This annual report is the first one that I
have been able to deliver since my appointment as your Non-executive Chairman in
February of this year.


Over the past 12 months, the world has been affected by great economic
uncertainty, in part created by a collapse in confidence within the financial
services sector, which has triggered a global downturn in consumption.


As with most public companies operating in the natural resources sector, the
share price of Niger Uranium Limited has suffered a decline that, broadly
speaking, has fallen in line with the rest of the market.


Today, I am pleased to report that our share price has recovered to be more
reflective of the value of our investments, the status of our projects and the
sector in which we operate.


Despite a fall in the value of most commodities during this period of global
economic slowdown, the price of uranium, U3O8, has recovered relatively quickly,
from a two-year low of US$38/lb to US$44/lb. This price increase reflects the
increasingly positive attitude that several governments have adopted in relation
to the role that nuclear energy can play in the modern world, in which the
production of energy has to be undertaken with environmental concerns in mind
and with the minimum of greenhouse gas emissions.


Later this year, world leaders, scientists, environmentalists, academics and
policy-makers will gather in Copenhagen, Denmark, to participate in the United
Nations' climate change conference, COP15. I am confident that one of the
outcomes from this gathering will be to reaffirm the significant role that
nuclear power has to play in the energy production sector as the world moves
away from fossil fuel-generated energy to a low carbon economy.


According to the World Nuclear Association, as of June 2009, 47 nuclear reactors
are under construction and proposals exist for another 282. Between 72,000 and
81,000 tonnes of U3O8 is required annually to satisfy current demand.
Over the last 12 months, your company has continued to make steady progress with
regard to the development of our projects, particularly those in Niger and at
the Henkries Project in the Northern Cape province of South Africa.


A full roundup of the current status of our investments and projects is set out
in the Acting CEO's report.


The company's recent placement of 4,340,052 new ordinary shares raised
GBP911,411 before expenses, equivalent to approximately US$1.5 million. The
company intends to use the placing proceeds to provide additional working
capital for the development of its uranium interests.


Notwithstanding our focus on projects with near-term potential, Niger Uranium
continues to look for new locations, opportunities and assets to enhance our
portfolio of commercially viable uranium properties.


I would like to re-affirm our strategy, which governs all of our operations:
Niger Uranium will act as a pure uranium investment, exploration and mining
development company, one that will move into production earnings through the
development of a diverse portfolio of uranium properties. Our mandate can be
summed up in five key points. We will:


1. Develop existing concessions and deliver cash flow as soon as possible
2. Expand the geographical portfolio of uranium assets by acquiring new properties
with proven uranium reserves, on a standalone, earn-in, joint venture or
partnership basis
3. Continue with the drilling and exploration programmes at our existing properties
and in support of the properties in which we have an interest
4. Work in partnership with local communities and regulatory institutions, and pay
the utmost respect to the environment and the social welfare of the citizens and
communities in our respective fields of operation
5. Operate under a sound fiscal and corporate governance framework



At this point, I would like to thank the previous Chairman of Niger Uranium,
James Mellon, for his sterling work in guiding our company from first listing to
the position we are in today, a position of great potential.


I would also like to thank the board, management, our shareholders and all
stakeholders for their continued support as we look forward to another busy year
of activity.


David Weill
Chairman

ACTING CHIEF EXECUTIVE'S REPORT


Like most companies across the world, we have had to face the challenges
presented to us by the current uncertain global economic conditions, yet,
despite economic events outside our control, we have remained rigidly focused on
keeping our development and investment programmes on track.


I am pleased to give you the following update of our progress over the last
year.


Investment
Kalahari Minerals, Extract Resources and the Husab Uranium (Rössing South)
Project, Namibia
Utilising our in-house knowledge and experience of uranium mining in Namibia,
Niger Uranium decided in late February 2008 to take a strategic 15.8% investment
in Kalahari Minerals, in line with our stated objective to deliver shareholder
value by acquiring stakes in viable uranium mining initiatives, particularly in
Africa. Kalahari Mineral's principal asset was then a 40.6% stake in Extract
Resources, held via the company's subsidiary Kalahari Uranium Limited.


Extract Resources (EXT) is an Australian ASX and Toronto TSX listed uranium
exploration and development company that owns and manages the Husab Uranium
(Rössing South) Project, 45 kilometres northeast of Walvis Bay in Namibia.


Drilling results from the Rössing South Zone 1 property so far show a resource
estimate of 145 million lbs at a grade of 449ppm U3O8, clearly demonstrating
that Rössing South has the potential to be a world-class uranium mine.


Your board is pleased with the progress being made by both Kalahari Minerals and
Extract Resources in respect to Rössing South and in particular with the recent
mobilisation of Extract Resources' technical and managerial teams in Namibia.
Increases in the share price of both of these companies has directly and
indirectly added real earn-in value to your company and we look forward to
Rössing South moving swiftly into the engineering, development and production
stages.


Henkries Uranium, Namakwa District, Northern Cape, South Africa
The last 12 months has seen significant progress at the Henkries Project,
particularly at Henkries Central and Henkries North. At Henkries North a total
of 2,044 metres of drilling (109 boreholes) has been completed to date.
Following an extensive drilling period, which involved sinking an additional 12
boreholes at Henkries Central (with 11 of these containing significant
mineralisation) we released the maiden resource estimate for Henkries Central,
following the completion of Phase-1 drilling at Henkries North. The
SAMREC-compliant undiluted resources for Henkries Central of 2.97 million lbs
U3O8 in the Measured and Indicated categories at an average grade of 501 ppm
U3O8, and an additional undiluted 1.5 million lbs U3O8 in the Inferred category
at an average grade of 294 ppm U3O8 using a cut-off grade of 100 ppm U3O8.


The board and management are delighted with these results, which confirm the
presence of a large-scale uranium deposit with a favourable grade and low strip
ratio. These findings are in line with the results that Anglo Operations Limited
reported in its historic feasibility study for the Henkries Deposit.


We are confident that further drilling at Henkries Central and North will
confirm that Henkries can eventually move to full feasibility and production.


The acquisition of the Henkries Project was subject to regulatory approval in
the form of the consent of the South African Minister of Minerals and Energy
(the "Minister") as required in terms of Section 11 of the South African Mineral
and Petroleum Resources Development Act, No. 28 of 2002 (MPRD Act) pursuant to a
'change of control' occurring in respect of control of the prospecting license
resulting from the acquisition. To date this approval has not yet been received
and the next stage of the development of this project is subject to such
approval being forthcoming.


Exploration Progress
Irhazer & In Gall, Tim Mersoi Basin, Niger
Niger remains one of the world's most important sources of uranium. Niger
Uranium is amongst a group of major global uranium investors and mining
companies that have investment and mining operations in the country. Investors
include Areva, Cameco, China National Petroleum Corporation, China National
Uranium Corporation and Korea Resources Corporation. Two mines are under
construction, including the Areva-managed mine that will be the world's largest
open pit uranium mine, due to commence operations in 2012. We all share a common
interest in making sure the investment environment in Niger remains harmonious.


Niger Uranium holds eight prospecting licenses in Niger, covering a total area
of 1,673,644 acres (6,773 square kilometres). Added together, the Irhazer, In
Gall, Kamas 1, 2, 3 and 4 and Dabala 3 and 4 licenses represents one of the
largest mineral property holdings in the Tim Mersoi Basin, the world's fifth
most important uranium producing district.


Large-scale radon and geochemical surveys commenced on the 100% owned Irhazer
licence area. The exploration team targeted an apparent repetition of the type
of geological setting present at Azelik, to the west of the licence area, where
a significant uranium resource is being developed. We believe that radon
detection, coupled with conventional geochemistry and geological interpretation,
is the best means of detecting a potential 'buried' deposit, which may be
obscured due to the presence of a cover of younger sediments in the area. We
await evaluation of this survey, following further exploration work on the
ground in Niger, which we hope to commence later this year as and when the
security situation in Niger improves sufficiently.


UrAmerica Plc
Salta & Chubut Provinces, Argentina/Paraguay/Colombia, South America
On 21 April 2008, Niger Uranium acquired an initial 20.89% holding in UrAmerica
plc, a junior uranium mining company engaged in the identification, acquisition
and exploration of high-quality assets in Latin America, particularly Argentina,
Paraguay and Colombia. UrAmerica has a strong South American management and
technical team with more than 20 years' experience in uranium exploration
throughout the region.


Argentina
UrAmerica has exploration permits ("cateos") in the Chubut and Salta provinces,
which cover a total surface of approximately 270,000 hectares in areas with
proven uranium anomalies and existing uranium mines (the Cerro Solo mine in
Chubut province and the Don Otto mine in Salta). UrAmerica has recently
finalised an advanced exploration Phase II.b in Salta, concentrating on three
areas thought to be the most prospective, Isonza, Cerro Tin Tin North and Las
Casitas with the objective to commence drilling operations in 2009.


The independent mining and technical consultancy SRK Consulting was invited to
conduct a review of the exploration activities undertaken during the Phase ll.b
Salta Province Argentina programme and issued a report in June 2009. SRK has
reported good potential for significant mineralisation over a widespread area at
the property, evidenced by a uranium anomaly that stretches for several
kilometres along the north-southwestern flank of the fold structure at Isonza
and similar structures at Las Casitas and Cerro Tin Tin North. SRK issued a set
of recommendations in the report that UrAmerica will follow up with in due
course.


Paraguay
A 100,000-hectare area has already been granted in the Parana Basin, East
Paraguay. The area contains known uranium mineralisation. CUE Resources and Wild
Horse Energy have both undertaken drilling programmes in this region in the
past.


Colombia
UrAmerica has filed for exploration permits covering 60,000 hectares with
uranium potential in Santander Province.


Our investment in UrAmerica holds much promise and we look forward to working
with UrAmerica, when called for, to provide the technical support that the
company requires.


Board of Directors
There have been a number of changes to the Board of Directors over the last
year. James Mellon has left his post as Non-executive Chairman and David de
Jongh Weill was appointed as Non-executive Chairman. John Sanders resigned from
his position as Chief Executive Officer, and Wayne Beach as Non-Executive
Director, in order to focus their attention on other business interests. I would
like to express my appreciation to my former board members for their services to
the company. I would also like to welcome Raphael Danon, who has been appointed
Non-executive Director.


I am confident that the Board of Directors we have in place will continue to
work proactively to enhance the position of Niger Uranium as a dynamic force in
the pan-African uranium mining sector.