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
  +0.00p +0.00% 389.00p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown - - - - 811.14

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Date Time Title Posts
12/9/200715:43UraMin-Uranium producer in the near term2,554
30/5/200709:34Uramin Inc17
21/2/200722:24! -- Uramin Inc - Goes Nuclear -- !6

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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.
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: http://
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!
papillon: Hope fellow posters don't think I'm blowing my own trumpet but I did forecast, in post 1943, this morning, that I could see UMN going back to C$6.50 short term. And it did!! Or very, very close at C$6.49. Using the latest exchange rate of 2.15305 gives 301.5p. OK it was only a gut feeling! C$6.49 is on the hypotenuse of the ascending triangle that Martin highlights in his graph. Where do we go from here? The probability is that we will bounce back in the next few days and attack C$7 again.However there is the possibility that we drop below C$6.49 and we could see a much longer period of consolidation, with the share price dropping back to C$6 , or even less. If we drop down tomorrow and close down, at say 300p, or lower then we will have dropped out of a long term uptrend on AIM. Now I don't know what is going to happen. The old adage "sell in May and go away" is wrong; as was pointed out in a recent article I read May is often a good month for equities. Look at 2006. The author reckoned the adage should really read "Sell at the end of May and go away". That was true last year, and evidently its right more times than wrong. That doesn't mean its going to happen this time to UMN, however I shall be watching the share price like a hawk over the next few days. Like I say none of us has a crystal ball but good news this week has failed to ignite the share price UMN has had a good run and investors have good profits.Perhaps big investors feel a lot of the future good news is already in the price? Who knows? If one gets a constant drip of sellers without many buyers around we will start to drift back down until the buyers are tempted again. Who knows? It could well bounce back up over the next few days. We shall see.
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.
papillon: Netsdeal, I downloaded a load of info on 22 uranium producers and near term producers last week. 120 pages of it!! It was an analysis of the investment merits of these companies by SPROTT. Sprott said that UMN would need an extra US$461 of CAPEX to bring their mine(s) into full production. You need to invest to be able to mine 19 MM lbs of uranium by 2012 (UMN's stated objective). That is obviously factored into the share price. Anybody who buys UMN shares must realise UMN have got to get that money from somewhere, either by borrowing it or by issueing shares. They have gone for the latter option. What caught the market out, I believe, is that UMN have opted to raise US$200 NOW, seeing they have already got enough cash to see them into 2008. I can only assume they are trying to get into full production even earlier to make sure they get top prices for their uranium since analysts believe the uranium price will drop after 2012 because of new supplies coming on stream. They could have borrowed the money but at what rate of interest? Perhaps the other 261 MM of CAPEX will be borrowed; who knows? Sprott rated UMN a speculative BUY on only 11 MM lbs of uranium production, knowing the CAPEX requirements. This was before UMN's latest update of increased production from TREKKOPJE. I can only assume that SPROTT now rate UMN an even better buy.
netsdeal: pap, this is how i don't understand the share price disparity between umn and uuu: hyperthetically suppose you have 10 million pounds of u3o8, which is worth $100 a pound, and no cash reserve or any other current assets. so your total assets are estimated as high as $1000m gross. suppose the share price is so reflected, giving a market cap of $1000m Now you ask for an extra $200m in order to get these $1000m u3o8 out. this will in theory lead to $1,200m market cap, ie, no dilution in the share price (in theory). but then you realise that the need for this new cash means your assets' net worth is actually $1000m-$200m=$800, as these new $200m will have all to be burnt in order to get those $1000m worth of uranium out. once you realise that $200m are the price necessary to pay in order to get $1000m worth of uranium out, you can't help but think the original market cap of $1000m was perhaps wrong, which perhaps should have been £800m? what does this reduced market cap mean to the share price? i think i'm completely puzzled. if they continue to require new capital in order to get their fixed $1000m assets out from underground, how many more times of new $200m are needed in the near future? then will it be worth it? debate welcome.
papillon: You also make a mistake, Netsdeal, in saying UMN is over valued because its main listing is in London. Well UMN has only really taken off since it listed on the TSX on the 18/12/06. The share price has more than doubled in the short time since it listed on the TSX. In fact, in the last few weeks, more UMN shares are now traded on the TSX than AIM. Canadian pi's and institutions have taken to UMN in a big way and now seem to be the main driving force behind the rise in the share price. In fact AIM seems to be playing catch up; its the TSX that seems to be taking the lead. So if UMN is overvalued its because of the Canadians, who, as you state are spoilt for choice when it comes to uranium stocks. Stocks such as SXR have hardly moved since 18/12/06, since UMN's debut on the TSX. I wish posters would get their facts right.
allyjcambo: I am aware that Galahad Gold holds a large (how much exactly?) stake in UMN but its share price does not appear to reflect the extent of growth seen in UMN's over the last few months. Clearly it has other interests, but for those of us who have missed out so far on UMN's rise does anyone agree that it might be a good idea to invest in Galahad (albeit that its bid/offer spread is wider than UMN) whose share price will presumably catch up to reflect its investment in UMN?
olivercromwell: searching for articles on Solar power but came across inadvertently. apologies if already been posted : How to profit from the growing demand for uranium 18.12.2006 When the oil runs out, go nuclear Uranium set to benefit from a nuclear renaissance How to profit from the growing demand for uranium .Jim Slater The oil boom is off the boil and is now gently simmering. However, there is still little doubt in most people's minds that oil is a very precious commodity and that in the long term the price will go up well beyond previous highs. The strength of the oil price and the long term worry about the scarcity of oil has increased the commercial viability of alternative sources of energy. Much more importantly, the growing risk of global warming has made it imperative to reduce carbon emissions from fossil fuel. I have just finished reading The Weather Makers by Tim Flannery. It is a very impressive and persuasive book which makes it very clear that the time to begin reducing carbon emissions is right now. Uranium: demand from nuclear power is set to rise Governments throughout the world are waking up to the necessity for urgent action. Wind turbines and solar power are two of the best-known alternatives but neither of them is likely to provide enough power to make a really meaningful impact. The obvious answer is nuclear power. There are already 440 nuclear power stations in over 30 countries supplying 16% of the world's electricity. France supplies 80% of its electricity this way. Another 30 reactors are planned notably in China, Russia, Japan and South Korea. After Iran's plans to install nuclear reactors were not seriously challenged by America six more Arab countries have expressed their intention to follow suit. They include Saudi Arabia for desalination, Egypt, Morocco and Algiers. Tony Blair has said that the UK will have another look at nuclear power. The Australian government commissioned a report which has recently given the green light to an expansion of uranium mining and the development of domestic uranium enrichment capacity. There is little doubt that within the next few years there will be a material advance in the number of operating nuclear power reactors and plans for installing more. The obvious question to ask is – where is all the uranium going to come from? A few years ago the uranium price had slumped and there was a surplus of Russian post-cold-war equipment that kept the market well supplied. During the last few years, the uranium price has risen from just over US$7 in 2001 to US$63 today. Uranium: other reasons the price is set to rise The most recent uranium spot price of $63 is understated because it is based on long-term contracts and some suppliers are now asking for a further uplift linked to the spot price at the time of delivery. It is important to realise that, for the utilities running nuclear power stations, uranium is a relatively small part of their overall costs so it is not very price-sensitive. Most of them are far more concerned with securing the long-term supply of sufficient uranium for their present and planned nuclear reactors. On top of the growing demand and short supply, a leading producer, Cameco, had a major disaster at their Cigar Lake mine in the south-eastern Athabasca Basin in Canada. The mine flooded and could be out of commission for up to two years. This may sound like a relatively unimportant happening but it is almost the equivalent of taking Saudi Arabia out of the oil market for two years. Lake Cigar accounted for about 17% of near-term world production in a very tight market. (For more on this story, see: Are we facing Peak Uranium?) How to find the best uranium stocks I like to find companies with a tailwind behind them. In the case of uranium producers it seems to me to be more like a hurricane! I have therefore devised five exacting criteria and eagerly researched the universe of uranium producers to find a share which meets them all. The clear winner is SXR Uranium One which is quoted in Canada on the TSX. Here are the details of how it checks out:- Criterion 1 Properties to be in relatively safe political territories. SXR-1 Properties in South Africa and Australia with a valuable option on a major Rio Tinto uranium property in the USA. SXR also owns a 50% interest in attractive exploration properties in Canada, and a 71.6% interest in Aflease Gold, which owns the Modder East Gold Project in South Africa. Criterion 2 Existing producer or early producer to meet the growing uranium supply gap particularly during the next two to three years. SXR-2 South African Dominion mine coming into production in early 2007 followed by the Honeymoon project in Australia in 2008. Criterion 3 Future production to be as unhedged as possible so that full advantage can be taken of rising uranium prices. SXR-3 Production completely unhedged allowing all sales to be made into the fast-rising spot market. Criterion 4 The cost per pound of uranium (i.e. the market capitalisation divided by the number of pounds of uranium in Measured and Indicated and Inferred Resources) to be well below the average for producing companies. SXR-4 Allowing for recent financings, at the present market price of C$13.4 shareholders in SXR pay only US$5 for every pound of uranium against for example: US$12 in Paladin Resources, US$13 in International Uranium and US$13 in UrAsia. Criterion 5 A relatively attractive estimated future price earnings ratio once the company's mines are in full production. SXR-5 SXR's estimated prospective 2008 multiple of 14 compares for example with 40 for UrAsia which has its mines in Kazekstan. As you can see, SXR Uranium-One measures up very well to all of my demanding criteria. I have been buying the shares for several months and now have a significant shareholding in the company. I am not the only SXR enthusiast. For example, respected Canadian brokers, Raymond James, recommend the shares to out-perform and rate the company in the universe they cover as 'the most leveraged play to uranium prices'. SXR is quoted on the Toronto and Johannesburg stock exchanges under the symbols TSX:SXR and JSE:SXR. At the present price of C$13.4 SXR's market capitalisation is C$1498m. My initial target price is C$20. Another top uranium share: Uranim Another uranium share I like very much is Uramin. Galahad Gold, in which I have a 10% interest, owns 20 million shares. This gives me an indirect interest in two million Uramin shares and together with my family I have a further substantial shareholding. Uramin is a year or so behind SXR and is more of a value investment than an immediate earnings play. Uramin has three main uranium licenses:- 1. In South Africa mainly in the Ryst Kuil Channel, after allowing for the black empowerment percentage, it has 27m pounds of uranium. 2. In Namibia at Trekkopji it has 157m pounds. 3. In the Central African Republic at Bakouma it has 41m pounds. Note: The pounds of uranium referred to above are based on the total of Measured and Indicated and Inferred resources. All three resources are open to further development. In Namibia, for example exploration rights have just been granted over a further 91,161 hectares adjoining the Trekkopji deposit of 37,368 hectares. Production is expected in South Africa and in the Central African Republic by 2010 and in Namibia a trial mine could be in operation by late 2007. In addition to its three main properties Uramin also has a 50% interest in an attractive exploration project in the Athabasca Basin and it has further resources in Chad, Botswana and Mozambique. A particular attraction of Uramin is the very low cost to its shareholders for every pound of uranium. As I pointed out if you buy shares in several well-known producers you pay about US$13 a pound. In Uramin, which is quoted on AIM, at the present price of 99p the cost per pound of uranium, after dilution for a recent £35m placing is about US$2.20. Many analysts do not use the cost per pound argument. They point out that no allowance is made for the grade of the deposit and there is no distinction between pounds of uranium that may not be produced for 40-50 years and those that will be produced during say the next ten years. There is also no distinction between Measured and Indicated resources which need a considerable amount of money spent on them to lift them to Measured and Indicated status. However, the cost per pound is one of the few rough-and-ready measures available to compare the relative value of mining stocks. One of the leading Canadian brokers, Canaccord, uses it in their weekly Junior Mining report and I have found it to be a reassuring statistic with several other mining stocks in which I have invested successfully. Although Uramin will not be in production in a big way until 2010, in 2011 it plans to be producing 5000 tonnes of uranium oxide per annum, which would make it one of the top six producers in the world. Hopefully as this begins to be anticipated the gap between its cost per pound of US$2.20 and the average of US$13 will close, resulting in a substantial rise in the Uramin share price. First published in Investing for Growth, 16/12/2006 ta oliverC
Uramin share price data is direct from the London Stock Exchange
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