Uramin Share Discussion Threads

[goldrush] 11/6/2007 18:25

papillon

To me AREVA are likely to be a dark horse and probably bidding against the Chinese IMHO.I also would not be surprised if they talked to GLA to buy their shareholding.

[papillon] 11/6/2007 18:14

malkie, I disagree with you. I think its probable we could end up having more than one bidder. We know the Chinese are interested but so must be the French giant AREVA. Why else would it buy a 15 million share stake?

[malkie] 11/6/2007 18:04

UraMin Shares Soar as Uranium Explorer Says in Takeover Talks

By Stewart Bailey

June 11 (Bloomberg) -- Shares of UraMin Inc., a uranium explorer in Africa, surged to a record after the company said it's in takeover talks

``No assurance can be given that the negotiations will be successful,'' the Johannesburg-based company said in a statement distributed by the Regulatory News Service today. Spokeswoman Kudzayi Denengi declined to give further details when telephoned today at Uramin's Johannesburg headquarters.

The price of uranium has increased more than fourfold in the past year as supply growth strains to keep up with demand from power companies. The company prospects for the nuclear fuel in South Africa, Namibia and the Central African Republic.

Shares of UraMin gained 30.5 pence, or 9.3 percent, to 359 pence at 4:02 p.m. in London, valuing the company at 977 million pounds ($1.98 billion). The stock earlier rose as much as 17 percent.

UraMin officials were in talks with China National Nuclear Corp. about closer commercial ties, the Wall Street Journal said on May 21, citing Liu Xuehong, deputy general manager of China National Nuclear's uranium procurement unit.

Denengi declined to comment on the report.

To contact the reporter on this story: Stewart Bailey in Johannesburg [e-mail]

Last Updated: June 11, 2007 11:13 EDT

[goldrush] 11/6/2007 17:47

papillon

As I said earlier that is exactly the way I see it....IMHO a price may not take all that long....then it is announced whether the directors agree or not....then there may be other bidders....All IMHO.

[papillon] 11/6/2007 17:38

If it is the Chinese making the offer then the chances are that, if the deal goes through, it will be an all cash bid. The Chinese seem to be awash with dollars at this moment. I'm sure they can spare some billions for UMN. Bearing in mind the excellent prospects for UMN I just can't see the directors, with their share stakes and options, letting this go on the cheap. Thats why I believe the bid will be at least £5 per share. Don't forget UMN is cheap compared to its peers. Also I would be extremely surprised if this bid approach doesn't ultimately flush out other interested parties. Now that would be nice; a bidding war!! I definitely won't be selling yet.

[malkie] 11/6/2007 17:21

could be ages.
I think that activity today was mainly trading arbitrage between London & Toronto.
Traders tend to simply trade and probably made decent money today scalping a few points here and there, especially on the spike up.
This has nothing to do with buying and hanging on for the outcome of any sale, which could be anything up to a year away. Especially if it's the Chinese who are always extremely pragmatic and will not be in any hurry. I expect a few twists and turns along the way.

Basically I am cautioning against expecting anything to happen too soon – great if it does, but this is a big deal set to make the directors extremely wealthy men so cant see it happening over night.

Will be interesting to see how TSX closes though....

[gbb483] 11/6/2007 17:19

This was discussed earlier - look through the previous posts.

[qs9] 11/6/2007 17:17

Is GLA not the way not into this? Given all the cash it has sloshing around, and a large chunk (11%?) of UMN, is it not undervalued? thoughts please??!!

[pec2004] 11/6/2007 17:05

How long is it normally until a bid is formally announced.

[sagem] 11/6/2007 16:57

NOW HEAR THIS/////////////////////////////


China courting Canadian uranium

GEOFFREY YORK AND WENDY STUECK

From Monday's Globe and Mail
Beijing and Vancouver - Chinese officials and investors have been sizing up the Canadian uranium sector, in what may be the early stages of an attempt to nail down raw materials for a nuclear building boom. A Chinese delegation visited Cameco Corp. last fall, says Alice Wong, a spokeswoman for the Saskatoon-based uranium giant.

[porker] 11/6/2007 16:48

And----- What about Hedge funds---???. They are said to be accumulating . Mind you when the time is right in maybe 3 years time they could become sellers.Then I become a seller.But I do agree if I was management I would not undersell.So maybe nothing will come of it.
I am a holder from £1.40.

[liam1om] 11/6/2007 16:46

Goldrush, I too was in Lionore and see this in a similar light.

If a bid is officially announced it must be over £4 atleast.

[sagem] 11/6/2007 16:45

The chinese have made it known that they need Uranium Mines to fire their new 35 Uranium Nuclear Powers stations being built. They have said they want to be independent and have their very own uranium on hand. Uramin fits this part exactly, but I am not sure which Chinese Company is interested. I will do some research.

[goldrush] 11/6/2007 16:38

SAGEM

With the experience of Lionore,MANA etc recently I totally agree with you....there must be competing bids and with the sale being announced to the world does any logical person believe the Chinese will be outbid....All IMHO.

[sagem] 11/6/2007 16:34

fanccy selling at this low price, no knowledge of the stock market,/uranium this share is worth a fortune, somebody is after the company, they have admitted already they are in talks, they will not sell this company under £4.00 could be worth £6.00 or even more with all their Uranium potential, they are not looking for it they have it and just need to get it out. I am buying certainly not selling....fools and their money soon part.Tomorrow is another day, this will hit the papers tomorrow...SOME BIG TALK GOING ON

[ivor whopper] 11/6/2007 16:33

seems creepy dont it.

[simonjamesturner] 11/6/2007 16:29

Hmmmm thought it would go higher then this. Maybe tomorrow?

[mad jack mcmad] 11/6/2007 16:29

Xtrata are cash rich and looking to diversify

[marnewton] 11/6/2007 16:29

Thanks pap;@)

[liam1om] 11/6/2007 16:11

This has got to be over £4.

[seagreen] 11/6/2007 16:02

still buying in canada would not be in a hurry to sell cheap

[sagem] 11/6/2007 15:59

So they are selling the company....is this a bid or agreement, what does everybody think
Possibility is BHP Billiton who have plenty cash or SXR Uranium One.

Share price must be worth at leat £4.00 minimum

[netsdeal] 11/6/2007 15:44

guess this bidder would either be SXR, or PDN (whose bid for SMM fell through lately)?

slightly disappointing in canada, up just 10.3%; hope it'll eventually top 20% somehow...

pap, thanks for the AFR tip... been away for a while.