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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Uramin Inc | UMN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 389.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 389.00 | 389.00 |
| Top Posts |
|---|
Posted at 31/7/2007 07:47 by keston07 Uramin Declaration of DividendRNS Number:1652B UraMin Inc 31 July 2007 This release is not an offer to sell nor a solicitation of an offer to purchase any securities. The securities referred to in this release will not be registered under the United States Securities Act of 1933, as amended, or the laws of any state and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements. 31 July 2007 UraMin Inc. ("UraMin" or "the Company") UraMin Announces Declaration of Dividend relating to Shares of Niger Uranium Limited UraMin has declared a dividend of 0.0985388 shares in the capital of Niger Uranium Limited (Niger Shares) or cash (in United States dollars) in lieu thereof, per UraMin ordinary share. The dividend is payable to shareholders of record at the earlier of 5:00PM (EST) on July 31, 2007 and immediately before CFMM Developpement (a wholly-owned subsidiary of Compagnie Francaise de Mines et Metaux S.A) takes up and pays for UraMin shares tendered under its takeover bid. All UraMin shareholders will be entitled to the dividend whether or not they have tendered their shares to the takeover bid. CFMM Developpement will not be involved in the payment of the dividend. UraMin shareholders resident outside of the United States and Canada will receive the dividend in the form of Niger Shares. For UraMin shareholders who are in the United States, the dividend will be paid in cash as the distribution in the form of Niger Shares may not be permitted by applicable United States securities laws. The dividend will be paid in cash for UraMin shareholders who are resident in Canada, except that Canadian resident UraMin shareholders who confirm in writing that they are "accredited investors" under National Instrument 45-106-Prospectus and Registration Exemptions will receive the dividend in the form of Niger Shares. Such Canadian Accredited Investors must contact Computershare Investor Services Inc. at (514) 982-7888, extension 7484, in order to receive instructions on how to obtain, complete and submit a written declaration to UraMin. Written declarations from such shareholders must be received prior to 5: 00 PM (Montreal time) on August 9, 2007. If a Canadian resident shareholder holds UraMin shares through his broker or otherwise in the book-based system, he must instruct his broker to complete such a declaration on his behalf in order to receive the dividend in the form of Niger Shares. All Canadian shareholders who do not provide such written declaration to UraMin prior to such time will receive the dividend in the form of cash. Distribution and payment of the dividend to all shareholders will be completed on satisfaction of certain conditions precedent including the disposition of Niger Shares to generate cash proceeds for payment to shareholders who will not receive Niger Shares. Pending such distribution, UraMin will place the subject Niger Shares into escrow. For further information: UraMin Inc: South Africa Neil Herbert, Finance Director Tel: +27 (0)11 783 5056 Canaccord Adams (Nominated Adviser) Robin Birchall Tel: +44 (0) 20 7050 6500 Forward-Looking Statements: This press release contains statements that are "forward-looking". Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the proposed dividend and the takeover bid for the Company are "forward looking" statements that involve risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. This information is provided by RNS The company news service from the London Stock Exchange END |
Posted at 18/6/2007 18:19 by papillon wassapper, UMN's stake has been reduced to 38.5% in the JV company in Niger (NWT also has reduced its stake to 38.5% as well). This is because there has been a placing of 23% of the company (to Hayward Securities) to raise US$19 million to fund exploration. Based on that price that means UMN stake is worth US$32 million but one must assume that the cash placing was done at a discount. I would expect a much higher value to be placed on UMN's stake when it is listed on AIM. I'm sure there would be an awful lot of interest in a uranium explorer with such excellent blocks in Niger plus US$19 million in cash to fund a drilling programme so no need to raise further cash on listing. UMN's stake, I would guess, could be valued at more than US$50 million. It currently makes UMN a risk free hold in anticipation of a further bid. We could well have UMN 2 listing soon!! |
Posted at 14/6/2007 19:29 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 12/6/2007 17:44 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 01/6/2007 22:17 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. |
Posted at 22/5/2007 20:32 by netsdeal papillon, we could sit here and discuss forever. if you look at the following chart, you can see that all these stocks started to end their consolidation cycle in late October, not from late December when UMN started quoting on TSE. of course, listing there was a smart move (and i liked it very much - and this is the reason that i favour UMN most), but you can also see the two most out-performing stocks are the 2 listed on LSE. and you guessed right - the 2nd best is ........ URA! which has no real reserve yet. what i meant by "pap, you know, another analyst could dig into EMC's or other RNS-equivalent and also come up with renewed reserve" was really to say the figure for EMC etc was also out-dated and it could also be increased in the same way as UMN's and hence the general picture that EMC etc is still significantly "cheaper" than UMN wouldn't be changed, if you look at market cap per pound of yellowcake alone (although i certainly don't agree that this should be used as the valuation yardstick alone). the reason that i see things differently, or just the opposite, is that my main umn holding is on TSE and hence i see UMN@TSE does not hold fort like UMN@LSE, ie, it's LOndon who leads. however, there are 3 advantages of investing on TSE instead, for the same amount of commision: 1. no stamp duty (i'm charged stamp on UMN@LSE, not on UUU@LSE though); 2. buy at bid price (ie, negative spread); 3. be able to hold it in ISA. hope this helps. |
Posted at 22/5/2007 18:28 by papillon Netsdeal, UMN only really took off when it floated on the TSE at the end of Dec 2006. Just look at the chart. It might just be co-incidence but I believe it brought UMN to the attention of a greater number of investors; otherwise why did the company do it? Don't forget the more exchanges you list on the higher your costs. If UMN had "got ahead of all of its peers" because its quoted in London then why are investors still buying it in Canada and why did it really take off when it listed in Canada? I think you are being illogical Netsdeal. Also there are not that many producers, or near term producers, in the uranium mining universe, so it doesn't take long to compare the latest reserves of this handful of companies. YOU ARE NOT LISTENING TO ME NETSDEAL; loparn did not "DIG" out the renewed reserve of UMN!! UMN gave us the figures a few weeks ago in an RNS!! There is nothing for an analyst to dig out; its all there in black and white in the companies RNS!! All loparn did, which anyone else with a rudimentary knowledge of mathematics can do, was work out a figure for UMN's share price based on a PER for UMN in 2011 and compare that with Uranium One. The production figures for 2011 he used were those most recently quoted by UMN and Uranium One in their latest RNS's. "pap, you know, another analyst could dig into EMC's or other RNS-equivalent and also come up with renewed reserve" I just don't understand your reasoning. What do you mean? Only the company can come up with a renewed reserve figure because only the company has all the facts at its disposal. There is nothing for an analyst to dig out. And how long does it take to compare the recent RNS's of UMN, PDN, FSY, Uranium One, Cameco and Dennison, etc? Not long because the UMN peer group is quite small. |
Posted at 22/5/2007 16:51 by papillon In other words Netsdeal the table and the web site are useless!! So why quote them?? If you want to compare the mkt caps/amount of uranium in the ground of Uranium One, PDN, FSY, UMN etc look at their RNS's. Don't use out of date web site tables. I can assure you UMN is cheap compared to its peer group; also very cheap compared to its peer group on production forecasts for 2011. I don't depend for my judgements on loparn. I make up my own mind using UMN's RNS's. Its just that he has gone to the trouble to calculate what UMN could be worth in 2011 using UMN's own production forecasts. Personally I'm surprised you are still holding UMN if you took notice of that table. If UMN only had 18.4 million lbs of uranium in the ground I'd have sold ages ago. And the share price would be a lot less than it is now. |
Posted at 21/5/2007 22:06 by papillon loparn, a Swede who did an in depth analysis of UMN on his own website, has posted on the Stockhouse UMN bb, that by his reckoning, the Chinese could afford to offer C$12 now for UMN and still get a good deal, bearing in mind UMN's forecast 2011 production. C$12 equates to £5.60 per UMN share at todays exchange rate. I'd take that!! Lets keep our fingers crossed. Personally I think it more likely that the Chinese will purchase a stake in UMN rather than completely taking it over. mineweb.com has an article about the approach by the Chinese to UMN, saying that the CNNC are also looking at deals with companies operating in Canada, Niger and Algeria with promising uranium potential. |
Posted at 16/5/2007 22:02 by papillon Is that a ramp hifkdmer? Actually I have now sold, within the last week, 1/3 rd of my UMN shares and within the last few days invested a very small part of the proceeds in URA to take my holding over 200k shares. That will do me for the time being. Its a good gamble. I didn't sell my UMN shares because of any doubts re UMN, but because it was well over 1/2 of my portfolio value. Unwise to have all your eggs in one basket, even one as good as UMN. There are 4 main reasons why UMN is valued around 40 times more than URA. 1/ It has a large resource in the measured, indicated and inferred category, unlike URA which has zilch in those categories though it has great hopes. 2/ It owns 100% of its main resource in Namibia, unlike URA which will only control 40% of what it finds. 3/ UMN will be in full production by end of 2008 and is probably guaranteed the current high prices for U for the first 3 or 4 years of its production; who knows when URA will start production and what the U price will be then? 4/ UMN has already experienced a large share dilution to raise a large chunk of its required CAPEX, something that URA will have to do. I have no doubt that URA shares will rocket if they find a massive U resource when drilling but they are not guaranteed to be successful. By contrast UMN's continuing rise will be more pedestrian. After all they have 5 bagged in the last 8 months. Both UMN and URA are risky, but UMN less so. I think the potential rewards for URA holders is massive. I can't predict an share price because you don't know what they will find. However I can predict the share price if they don't find anything commercial; less than a penny!! I think they will find commercial U deposits; thats why I have URA shares. |
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