UraMin Inc - Placing and Admission to AIM
RNS Number:7788BUraMin Inc 21 April 2006
UraMin Inc. raises $60m (#34m) via a placing of 50,000,000 ordinary shares at a price of $1.20 (68.5p) per ordinary share ('the Placing') and is admitted to AIM
UraMin Inc.

('UraMin' or 'the Company') begins trading today with ticker symbol 'UMN', following completion of the Placing and admission of its entire issued share capital to trading on the AIM market of the London Stock Exchange plc ('AIM').

The Company has raised US$60 million (approximately #34 million) before expenses and at the Placing price the Company has a market capitalisation of US$209 million (approximately #120 million).

Matrix Corporate Capital Limited isthe nominated adviser and Canaccord Adams Limited is broker to the Company. BMO Nesbitt Burns Inc. was the placing agent.

Samuel Jonah KBE, non-executive chairman, and Stephen R. Dattels, executivedeputy chairman and founder, head the UraMin board of directors. Mr. Dattels said: 'With the Placing and admission to AIM, UraMin has positioned itself to become an important uranium producer in the near term. The Company has the financial strength to develop its existing projects as well as assess new projects. Most importantly, we have built a top management team which can advance the Company's uranium projects to the bankable feasibility stage and ultimately into production.'

John (Ian) Stalker, CEO of UraMin, added 'This is an exciting time for uranium mining companies and with our listing, we expect our profile to grow within the industry.

'Expected TimetableAdmission and dealings in the ordinary shares commence on AIM 8.00 a.m. on 21 April 2006
Delivery of depositary interests into CREST 21 April 2006
Where applicable, despatch of definitive share certificates in respect of the 28 April 2006
Placing shares to placees by no later thanPlacing StatisticsPlacing price US$1.20 per shareNumber of Placing shares 50,000,000Number of ordinary shares in issue following the Placing 174,175,792Percentage of the enlarged issued share capital subject to the Placing 28.7 per centEstimated net proceeds of the Placing US$54 millionMarket capitalisation following admission at the Placing price US$209 millionNumber of options in issue on admission 22,133,332Number of warrants in issue on admission 20,093,947Number of ordinary shares on a fully diluted basis on admission 216,403,071ISIN number for the ordinary shares VGG9298V1067

For further informationUraMinIan Stalker, Chief Executive OfficerTel: +27 (0)11 783 5056Neil Herbert, Finance DirectorTel: +44 (0)20 7408 2018Matrix Corporate Capital LimitedAlastair StrattonTel: +44 (0)20 7925 3300Canaccord Adams LimitedRobin BirchallTel: +44 (0)20 7518 7388Britton FinancialTim BlackstoneTel: +44 (0)20 7251 2544

This press release has been issued by UraMin and is the sole responsibility ofthe Company. This press release does not contain or constitute an offer orinvitation to purchase or subscribe for any securities of UraMin and should notbe relied on in connection with any decision to purchase or subscribe for anysuch securities.The securities referred to herein have not been and will not be registered underthe U.S. Securities Act of 1933 and may not be offered or sold in the UnitedStates absent registration under the Securities Act or an available exemptionfrom it.Notes to EditorsUraMin Inc.

UraMin Inc. ('the Company' or, collectively with its subsidiaries, 'the Group')was incorporated in February 2005 for the purpose of seeking to acquire and develop mineral deposits, predominantly uranium, throughout the world. Provided its application for an exclusive prospecting licence (EPL) for its advanced exploration project, the Trekkopje Project in Namibia, is successful, the Group currently plans to develop and bring the project into production. The Group is also actively seeking and exploring additional uranium properties throughout the world.

The Trekkopje Project is located in west-central Namibia about 65 km northeast of Swakopmund. The project area has been extensively explored in the past with primary drilling in mineralised areas at approximately 100m to 200m intervals along lines 400m apart, with more closely spaced infill drilling covering areas of better grades. Aggregated SAMREC Code compliant resources in both the indicated and inferred categories are estimated by the competent persons of Dr.Morris Viljoen and Dr. Richard Viljoen at 120.9 Mlbs of U3O8. Total indicated resource alone is estimated at 13.2 Mlbs of U3O8.

The vanadium content isestimated to average approximately one third of the uranium content. Upon grant of the relevant EPL, the Group plans to complete a feasibility study on the Trekkopje Project over the next eighteen months, which will be followed by construction assuming that the results of the feasibility study are favourable.

Initial capital costs for the development of the project are estimated at US$181 million. A conceptual technical and economic evaluation of the Trekkopje Project was undertaken by Turgis Consulting (Pty) Ltd based on spot prices at the time of analysis of US$38.50/lb for U3O8 and US$9.50/lb for V2O5 and an exchange rate of US$1=R6.20.

The analysis assumed a mine life of 20 years for the indicated and inferred resources of the Trekkopje Project with an annual production rate of 3.1 Mlbs of U3O8 and an average operating cost of US$15.60/lb of U3O8. The net present value of the pre-tax cash flow at a 10 per cent discount rate was estimated at US$349 million with an internal rate of return of 44 per cent.

The net present value of the post-tax cash flow was estimated at US$167 million at a 10 per cent discount rate. SAMREC requires that in addition to reporting the results of any cash flow modelling on the total resource figure, that the results of the indicated resource alone are also reported. On this basis, the mining resource would comprise 13.2 Mlbs of U3O8 with an overall production cost of US$14.67/lb of U3O8 and would result in a pre-tax net present value of US$17 million at a 10 per cent discount rate.

The post-tax net present value at a 10 per cent discountrate would be negative US$28 million. Overall U3O8 production would be 9.7 Mlbs.

The Group is also attempting to secure mineral rights in the Beaufort West, Sutherland and Springbok Flats districts of South Africa and plans to explorethose properties on which it acquires or is granted prospecting rights. The Group also plans, subject to publication of a decree ratifying the Mining Convention between the Group and the Chad government, to conduct preliminary evaluation work on the areas over which it has been granted exploration permits in Chad. In addition, the Company has recently signed an option agreement to acquire up to a 50 per cent. interest in the Rea Property located in the highly uranium-prospective Athabasca Basin in Alberta, Canada.

The Group is also attempting to secure five prospecting and research licences in Mozambique and licences in the Botsalano Ring Complex region on the South Africa/Botswana border.

The UraMin board is headed by non-executive chairman Samuel Jonah KBE and executive deputy chairman Stephen R. Dattels. Samuel Jonah KBE is non-executive president of AngloGold Ashanti Limited and executive chairman of Equator Exploration Limited, as well as a member of President Thabo Mbeki's advisorycouncil of South Africa. Mr. Dattels is the founder of UraMin and has beena ctive in its formation, development and financing. He was also a key executive at Barrick Gold Corporation during its formative years and is a financier andfounder of a number of mining companies. John (Ian) Stalker is chief executive officer. He has over thirty years of experience as an international miningexecutive, having most recently worked for Gold Fields Ltd. as vice president responsible for the company's main project activities in Europe and Australia. Mr. Stalker has been responsible for placing into production eight mines with several important mines in Africa including the Siguri, Bibiani and Geita mines.

Since its incorporation, the Company has raised US$100.8 million in equity finance, including the gross proceeds of the Placing. Should the Group's EPL application prove successful the funds raised by the Company will be used to move the Trekkopje Project to the feasibility study stage. No assurance can be given that the Group's application for an EPL will be successful; however, the Group has been advised by local counsel that an application of this nature should not normally be refused. Net proceeds of the Placing will also be applied to the Group's other prospecting programmes and towards securing an interest in the Rea Property. The directors will also continue to identify and evaluate opportunities for the acquisition of uranium properties and may apply net proceeds to the securing of additional properties.

My thoughts: At current market cap of 120 million, this looks a little expensive for a company that is still at the exploration stage. Most miners I have looked at recently experienced a drop in share price post-floatation. At the time of this posting, no shares have been traded according to the FT.com website, confirming the view that perhaps the current indicative SP of 70p/75p is a little ambitious

However, the company is targeting what appear to be very large Uranium deposits, and the Vanadium adds spice to the mix. The prospective size of the exploration portfolio also gives grounds for hope in the longer term. One to watch for the future? IMO/DYOR

It seems the market disagreed with me yesterday - the SP hit a high of 95p on turnover of almost 4.5 million shares. FT.com didn't publish the share movements until the end of the day though, which was a touch unhelpful of it.

With UMN now valued at 161 mil, it now looks - to me - more expensive than ever. However, with its current large cash pile, some of the SP is accounted for by assets, but a lot of the "value" here appears to be in the hopes that rest on the prospecting licences in UMN's portfolio.

Any views, anybody?

All IMO, DYOR, etc.

This could be more like it:

UraMin Inc - Acquisition
RNS Number:6235CUraMin Inc08 May 2006 UraMin Inc. ('UraMin' or 'the Company') URAMIN ACQUIRES A 90 PER CENT. INTEREST IN THE BAKOUMA URANIUM DEPOSIT IN THE CENTRAL AFRICAN REPUBLICThe Board of UraMin is pleased to announce that it has agreed to acquire a 90per cent. interest in a mineral exploitation licence over the Bakouma UraniumProject in the Central African Republic ('CAR') for an investment of US$27million including exploration commitments to be applied over a 12 month period.The licence permits UraMin to develop the deposit to feasibility study and tocommence mining operations. In addition, the Mining Convention entered intowith UraMin provides, inter alia, a fiscal regime for the mining operation.The results of the URCA feasibility study dated 22 February 1977 on the propertyindicate that the Bakouma Uranium Project has a mineable inventory (described inthe URCA study as a 'global reserve' and further defined as 'mineable reserves'after mining dilution and losses have been taken into account) in excess of 41million pounds of U3O8 at an average grade in excess of 0.27 per cent. of U3O8.The reported cut off grade is 0.1 per cent. U3O8. These historical estimateshave yet to be verified by an additional work programme planned by UraMin and,as a result, these estimates are not compliant with the requirements of themajor mining codes as they exist today.The Directors believe that previous work done on the project in the late 1970's,will allow the Company to fast track the preparation of its own feasibilitystudy, including confirmation drilling and possible strike extensions. Thepartnership formed with the Government of the CAR and their continuedfree-carried 10 per cent interest in the project will greatly facilitate itsdevelopment and benefit the Bakouma region.Samuel Jonah KBE, Chairman of UraMin stated: 'The Bakouma Uranium Projectrepresents a major change in the Company's profile as it provides UraMin withthe potential to become a near term producer with two projects, Trekoppje inNamibia and Bakouma in the CAR and as a result UraMin has established a platformto become a significant player in the uranium sector.' Ian Stalker, CEO ofUraMin said: 'We have assembled a world class development and operating teamwhich will enable us to complete a feasibility study at Bakouma at a rapid pace.'

Gone from 60 to 135 in no time , graph is going upwards . could be one to be in next year.

What is umn valued at now ? 240 mil ?

Is anybody else on this one ?

UraMin Inc
15 January 2007


15 January 2007

UraMin Inc.

('UraMin' or 'the Company')

High grade drilling results from the Bakouma Uranium Project

UraMin is pleased to announce initial drilling results from the Patricia
deposit, the largest of the 10 uranium deposits making up the Bakouma Project in
the Central African Republic ('CAR'):

High Grade mineralisation was encountered with significant intersections
at the Patricia Uranium Deposit being:

33 m at 0.14% U3O8 from 69 m depth in drill hole PRC004

6 m at 0.41% U3O8 from 42 m depth in drill hole PRC007

64 m at 0.30% U3O8 from 41 m depth in drill hole PRC010, with 8 m at
0.61% U3O8

59 m at 0.34% U3O8 from 32 m depth in drill hole PRC018, with 8 m at
0.88% U3O8

29 m @ 0.20 % U3O8 from 55 m depth in drill hole PRC014

38 m @ 0.26 % U3O8 from 47 m depth in drill hole PRC017

59 m @ 0.34 % U3O8 from 32 m depth in drill hole PRC018

18 m @ 0.30 % U3O8 from 52 m depth in drill hole PRC021

Drilling programme ahead of schedule with 66% of the historically
defined Patricia mineralisation delineated

Open ended mineralisation at depth and high grade intervals identified
indicate potential to exceed the existing historic exploration target of
18,000 tonnes U3O8 for Bakouma

It is anticipated that a NI43 101 compliant resource statement will be completed
on the Patricia deposit during the first quarter of 2007.

In the past six months, UraMin has completed 11,453 meters of reverse
circulation percussion drilling in 119 drill holes. Thus far, a total of 98
drillholes have been completed in the Patricia deposit with a further 21 drill
holes in other deposits. Assay values for 17 of these drill holes have been
received and assay results from 49 drill holes are pending and are expected by
the end of January 2007 with samples for the balance of the holes drilled to
date undergoing sample preparation on site.

The Bakouma Uranium Project consists of ten documented uranium deposits in close
proximity to one another. A review of the studies conducted by Compagnie des
Mines d'Uranium de Bakouma and Societe de l'Uranium Centrafricain between 1969
and 1977 reveals an exploration target in excess of 18,000 tonnes (41 million
lbs) of U3O8 at an average grade in excess of 0.27% U3O8 containing an estimated
18,000 tonnes (41 million lbs) of U3O8.

The aforementioned historic estimates do not comply with NI 43-101 standards and
should not be relied on as they do not use mineral category definitions used in
codes recognized by NI 43-101. Current drilling is focused primarily on
delineating the uranium mineralisation that was previously identified by these
studies for the Patricia Uranium Deposit, which has a historically reported
target of 8,000 tonnes U3O8.

Assay results for the first 17 of the Patricia drill holes have indicated U3O8
values ranging between 0.14% (over 33 meter composite width) to 0.41% (over 6
meter composite width). Within these composited intervals individual samples,
representing vertical intersection widths of 1 meter, range in grade from 0.01%
to as high as 2.1% U3O8. These results confirm the occurrence of uranium
mineralisation at grades and widths similar to that documented by the previous
studies.

In the current drilling program uranium mineralisation has been intersected from
depths below surface ranging from 8 meters to 50 meters extending down to 105
meters (the maximum depth for the results of the drilling thus far) where the
mineralisation is open ended in 8 of the 24 holes reported. UraMin intends to
test this depth extension by deepening certain of the drill holes.

Historical information indicates that the maximum drill depth achieved on the
Patricia deposit was 107 meters. UraMin has improved this and is consistently
reaching depths below 100 meters and extending as deep as 130 meters below
surface where indications of the presence of mineralisation, as determined by
hand held total gamma scintillation counters, exists in these deeper
intersections. These are to be confirmed by XRF assay shortly.

The current 15,000 meter drill programme on Patricia is designed to drill the
deposit on 50 meter centers. Modeling of this deposit is underway and it is
planned to complete a NI 43-101 compliant mineral resource inventory by the end
of March 2007.

Drilling will continue to focus on the Bakouma area to delineate a further
target of 8,000 tonnes U3O8 at the Pato and Pama deposits by mid 2007. In
addition, delineation of uranium mineralisation on a further seven historically
reported deposits will continue in 2007.

Ian Stalker, Chief Executive of UraMin, said:

'Initial exploration results for the Patricia deposit at Bakouma have exceeded
expectations. This work confirms the potential for resources to be delineated
close to the surface making them amenable to extraction using open pit mining
methods. Furthermore the open ended mineralisation and high grade intervals
identified thus far could result in the historical resource target of 18,000
tonnes U3O8 being exceeded.

We believe that the previous work done on the project in the late 1970's, will
allow the Company to fast track the preparation of its own feasibility study,
including confirmation drilling and possible strike extensions. The partnership
formed with the Government of the CAR and its interest in the project will
greatly facilitate its development and benefit the Bakouma region.'

Mr. G M Greenway, Pr.Sci.Nat. (SACNASP), MSAIMM, Divisional Manager of Snowden
Mining Industry Consultants, is the qualified person responsible for the Bakouma
drilling program and has verified the data reported above. Mr Greenway is a
consultant to UraMin, with no interest in the company and has consented to the
inclusion in this announcement of his name in the form and context in which it
appears. Exploration data is acquired by UraMin using best practice quality
assurance and quality control protocols. Reverse circulation percussion chip
assay samples are collected by appropriately qualified personnel and are assayed
at SANAS accredited laboratories in Johannesburg, South Africa; Set Point
Laboratory (SANAS No. T0223) and ISO/IEC 17025, SGS Lakefield Research Africa
(SANAS No. T0169) and Mintek Analytical Services (SANAS No. T0042). U3O8 assays
are performed using x-ray fluorescence spectrometry on a pressed powder pellet.
Quality control procedures follow industry best practice and include the use of
blind control samples.

This is very exciting news-uranium prices are rocketing up. clearly the share to be in for 2007! congrats to the early birds I'm late to the party.

I don't think u r late. There is more to come, moneyplus.

Glad to see a few of you have noticed this one now .

fliper,

I saw their presentation at Minesite earlier this week, and was certainly impressed.

I won't be buying after such a rise though, as I have a self imposed rule never to chase a price, particularly one that has risen so steepl, so will watch and wait, and buy if there's a retracement.

UraMin Inc
17 January 2007


17 January 2007

UraMin Inc.
('UraMin' or the 'Company')

Twelve of the fourteen prospecting licenses applied for in the Ryst Kuil
Channel have been awarded with an exploration target of 60 million lbs U3O8

Additionally fourteen of the twenty seven prospecting licenses applied for
in the greater Karoo area have been awarded, including prospecting licenses
over the Riet Kuil deposit

UraMin is pleased to announce that its joint venture in South Africa has already
commenced preliminary definitive feasibility study work on its Ryst Kuil Channel
uranium project. UraMin's South African joint venture company is now the
beneficiary of twelve of the fourteen prospecting licenses applied for in the
Ryst Kuil Channel, with only two prospecting license applications in the Channel
outstanding. With the award of the additional prospecting licenses UraMin
believes that it now has the potential to develop South Africa's first primary
uranium mine with robust U3O8 production levels in an area highly regarded for
its uranium resource potential.

In addition, the award of prospecting licenses over the Riet Kuil farm
represents a second uranium project for UraMin in South Africa. The Riet Kuil
deposit was identified by Union Carbide during the mid 1970's as an easily
accessible near surface deposit situated approximately 80km north west of the
Ryst Kuil Project. Union Carbide was able to delineate a resource at Riet Kuil,
which resource falls entirely within areas licensed to UraMin's joint venture
company in South Africa.

Ian Stalker, Chief Executive, said 'UraMin and its partners are now positioned,
with the award of the further Ryst Kuil prospecting licences, to consolidate
uranium prospecting licenses granted over the Ryst Kuil Channel, to commence the
resource delineation exercise and to award the definitive feasibility study work
to a suitable consultant. The Ryst Kuil project was evaluated in considerable
detail by Esso Minerals during 1979, which should enable UraMin to adopt a 'fast
track' approach to the project. We believe that the Ryst Kuil Channel will be
developed into a robust uranium mine which could be in production by 2010.'

Great potential...looking cheap at 180p. Huge buying in today

Encouraging article in the Midas on UMN in the Sunday Mail

In a nut shell , what did it say ?

SP holding on this one after a strong run . I think another upward movement due soon maybe to 2.20

I agree with u, fliper.

UMN is starting to gain momentum this morning.

Uranium prices are surveyed and quoted on a weekly basis by various industry watchers. The recent move from $56 to $60 a pound was "the largest weekly increase on record," according to Eric Webb of Ux Consulting. Long- term forecasts of $75 and even $100 a pound now appear justified; uranium would have to trade above $111 a pound to break its inflation-adjusted highs from 1978.

This is more than just subterranean cave-in blues: The uranium spot price hasn't seen a down month since 2001. For years now, uranium producers have met just 60% of total annual demand - the other 40% coming from government stockpiles and decommissioned nuclear warheads. This can go on for only so long.

The tightness of supply comes at a time of atomic resurgence. Three large-scale factors have turned the tide in favour of nuclear energy:
geopolitics, global warming and developing world growth.

Well I did say were this ones heading .

Its hard to believe this share will be trading at 5 in 12 months time .

Fliper-I'm in and holding! trebled since Nov and this is just the beginning. Uranium price still rising-can see this one a lot higher than 5 in 12 months. only my opinion of course.

I totally agree with you, moneyplus and fliper. UMN is a screaming BUY now at 200p.

More people are seeing the light with this one . 20 to 30p will be added to the sp in a few weeks time .

China is creating close-tie with South Africa - this is good news for UMN...


China not developing neo-colonialist relationship with African nations - Hu
AFX

PRETORIA (XFN-ASIA) - China is not developing a neo-colonialist relationship with African nations in its drive for access to the continent's vast natural resources, Chinese president Hu Jintao said.

On the second day of a visit to Pretoria -- sixth stop on his eight-nation tour of Africa -- Hu said the 'colonial aggressions and oppression by foreign powers' experienced by China's people in the last century meant it would never throw its weight around.

'Because of the sufferings they experienced and the struggle they launched, something they will never forget, the Chinese people are most strongly opposed to colonialism, oppression and slavery in all manifestations,' he said, in a reference to Japan's occupation of China in the 1930s and 40s.

'China has never imposed its will or unequal practices on other countries and will never do so in the future. It will certainly not do anything harmful to the interests of Africa and its people,' Hu said in a keynote address at Pretoria University.

Hu reiterated his belief that strengthened ties between China and Africa will benefit everyone.

'China and Africa have extensive common ground and a fine tradition of cooperation on major international issues. It serves our shared interests to strengthen coordination in international affairs,' he said.

'The Chinese are a peace-loving nation. We believe in cooperation and harmony ... and we hold that the strong and the rich should not bully the weak and the poor,' Hu added.

Hu and his South African counterpart Thabo Mbeki yesterday signed a raft of trade agreements after a two-hour long meeting.

afp

Plenty of buys today

Good start this morning.

Sit back and enjoy the ride , I expect 2.30/40 by the end of feb .

2.18 to buy , what did i say about 5 in 12 months time .

I never doubt that, fliper...imo it will go higher than 500p...like Aquarius Platinum but UMN in Uranium.

HI fliper & 98 i brouhgt this 2weeks back but tell me what do you think of ( Brinkley Mining (BRM)Uranium

468 , looking into brm , Have put more into umn because i know were this ones going .

Thank fliper it would be nice two have your view on this?

225 is this a new high ?

Micky, BRM's capital is pretty small - 1.5 million pounds with 1,000,000,000 shares in issue. It has interest in south africa and congo but it is still not fully established. In the long term possibly in 3 years, it could be looking promising. As fliper said, we all know where UMN is clearly heading, ie. upwards.

Thanks for your views 98 its been log as this is a (UMN ) post i'll leave it there.

468 , 98 is right small cap , pays to stick with bigger companies . umn is the one you should be in .

Micky, time to get on and don't hesitate at 223p.

A 24p gain on the week . Next week , dare we aim for 25p going to 2.50 ?

I am in it with u, fliper but 250p is not what I am seeing to. It will be 500p in 6-12 months.

12 month target is 5 , but it would be nice to see it beaten quicker .

Thank's guys just got some money back. So monday morning i hope

micky, have you got on yet?

certainly both UMN and VML have rocketed away ..... see some pretty charts below! ......




Both charts are over 1 year period and show 50 + 200 dma

Thanks, cynic

are both VML and UMN at similar stages of development as companies? ..... i.e. are they still both E&P companies or has one/both already found deposits and started producing?

if both much the same, thenof the two, i would probably go for UMN as it has a decent cap of some 500m whereas VML is only 22.5m.

however, if you prefer excitment and/or a heart attack, then VML should prob be your choice!

98 just got up missed the boat i think? late night their a lot of sells maybe the price will come back down alittle

I still think u r not late micky imo

you don't think the price will come down a little 98

i do!! ..... both VML and UMN are quite heavily overbought and are due for a decent correction or consolidation .... but that of course does not always happen!

your right cynic what umn next big venture i think it;s Riet Kuil farm tell me if Am right

no idea .... have not followed either of these stocks

98 do you no .........?

98, looks like my 5 target will be beaten quicker than i thought . As uranium prices rocket the sp of umn and vml will follow suit .

I personally think this will go further...there is a good article in the Telegraph today

All good news ,

Will we see the first 2.50 trade tuesday ?

Got in touch with my broker today and he advised to BUY...told me there is likelihood UMN will reach 300p maybe end of month. Bought some today.

I am thinking on the same lines . We know were its going .

being a greedy bastard, may be tempted .... will dig out telegraph article when i get home

Cynic, you are Mr.83%, much better than that Mr. Tom Winnifrith, a close friend of Evil Knieval.

ah, but i deal in cfd's so i guess the pack is slightly skewed in that respect .... nevertheless, it is 100% true that my stake money has indeed increased by 83% over the last 10 months ..... not exactly crying!

by the way, i have rad the article on UMN in Telegraph ..... while it weas good PR exposure, i did not think it was of any great value ..... indeed, it makes me think to look even more closely at Monterrico for a short-term punt

Been trying to get into this for ages, just waiting for a nice pull back to get my timing right.
With it rocketing like this it's a bloody frustrating wait!!

The early bird catches the worm.

Well get in at 8.00am before the next rise .

Micky 468, your BRM are moving now, they have the green light for digging .

fliper are you in?

Micky, have u got in today? Good opportunity today

Well we cannot rise every day , a little fall back is good for the graph . 2.40 to top up wednesday .

certainly less o'bought than VML, but would still not be surprised if further weakness (aka profit taking)

Theres a point were profit taking stops and buyers come in .

fliper wt you think of VML

If you read the RNS and add up the figures , they could be very good .

quite so fliper, but to my mind that point is not yet reached .... am sure you wll feel free to disagree!

Its getting to a point were i may buy a few more . I think the sp will be up in the next two days .

been interesting watching UMN in conjunction with VML ..... for my money, would have expected VML to drop which it hasn't, and UMN (if either) to rise, which it also has not

UMN is starting to rise now, cynic....and micky, did u manage to get into UMN?

yes hi but i got in must be mad

at what price?

sorry i;ve been out 243p

You meant u got in at 243p?

nothing wrong with the stock, but haven't bought ..... feel i have enough mining stocks in ANTO, POG and KAZ

yes y good or bad 98?

Holding , not tempted to sell , we know were its going . Target 5 in 11 months .

micky, it's ok at 243p...u will see much higher soon

Thanks........ hope your right it would be nice 5 but i'll take 499p all day long

You are in , sit back and enjoy the ride .

Lots of buys now , positive for next week .

Good news...UMN has much more to go. My broker was right again last week.
Owe him a dinner now.


UraMin evaluating strategic options as sector continues to consolidate
AFX


LONDON (AFX) - UraMin Inc said it plans to evaluate its strategic options in light of the consolidation taking place in the uranium mining sector.

UraMin is currently developing its properties in Namibia, the Central African Republic and South Africa to the definitive feasibility study stage.

'The continuing work we are undertaking at each of our feasibility study stage projects has the potential to significantly increase our 41-101 compliant resource base,' chief executive Ian Stalker said.

The company expects to release its interim feasibility report on the Trekkopje project in Namibia this month, and an update on the Bakouma project in the Central African Republic in coming weeks.

Micky, time to celebrate 4 u

Thanks 98 what can i say still wt do you think of this (VML) is it a good bet

I think it will reach 28p in the short term.

can you see it droping before that ............and hve you bought in to this

Great graph - Congrats to anyone who bought in around 60p!

Are u into UMN as well, GD Potts?

Just got in , what a great day for umn . I have been telling everyone to get on this one .

I told micky and he had got on and in profit now.

Good one for UMN...UraMin to increase its stake in the South African venture from 65% to 74%


UraMin Inc
20 February 2007

UraMin Inc.
('UraMin' or the 'Company')

Acquisition of additional interest in the Ryst Kuil Uranium Project and
resolution of disagreements with South African partner


UraMin is pleased to announce that it has entered into an agreement to acquire
the 26.25% stake of Mago Resources (Pty) Ltd ('Mago') in UraMin-Mago-Lukisa JV
Company Limited ('JVCo') for R51 million (US$7.1 million). Mago is one of
UraMin's two South African black economic empowerment partners and JVCo is the local company in which UraMin's South African interests are housed. Prior to the transaction UraMin held a 65 per cent stake in the South African venture.

UraMin's acquisition of Mago's stake in JVCo represents a final resolution to
the disagreements which have persisted between UraMin and Mago since the
venture's establishment. In terms of the agreement JVCo will also relinquish to
Mago the entitlement to benefit from prospecting rights and applications for
prospecting rights in the Mpumalanga and Limpopo Provinces of South Africa.
JVCo, however, will retain all rights, titles and interests in and to those
prospecting rights and applications for prospecting rights in the Northern,
Western and Eastern Cape Provinces. These include the Ryst Kuil Channel, Riet
Kuil and Tanqua projects.

Ian Stalker, UraMin's Chief Executive Officer, said 'The agreement with Mago
will enable UraMin to increase its stake in the South African venture from 65%
to 74%, while resolving all differences and disagreements in relation to our
South African business. Of the 26.25% interest in JVCo purchased from Mago,
shares representing 17.25% of the company will be placed with attorneys in trust
pending their on-sale to another suitable black economic empowerment partner.
UraMin will retain the balance of 9%, thereby increasing its stake in the
exciting South African project to 74%' '

Sam Jonah, Chairman said 'The acquisition of this additional interest in our
South African joint venture maximises the benefit to shareholders from the
development of the Ryst Kuil uranium project while at the same providing the
opportunity for new black empowered partners to take an active role in the
development of what has the potential to become South Africa's first primary
uranium mine. With the first phase of the Ryst Kuil RC drilling programme about
to begin and with feasibility study engineers to be appointed shortly we can
look forward to an exciting period of growth in South Africa.'

This is exciting...Trekkopje's production would rise to more than 8 mln lbs per annum of U308 using heap leach technology compared with the 3.3 mln lbs of production...see below


UraMin says Trekkopje feasibility study results exceeds co's expectations
AFX


LONDON (AFX) - UraMin Inc claimed its Trekkopje Uranium Project in Namibia is set to become 'one of the largest uranium producing mines in the world' with much higher than previously envisaged production, according to the results of a feasibility study.

The study, conducted for the AIM-listed miner by SRK Consulting, said production would rise to more than 8 mln lbs per annum of U308 using heap leach technology compared with the 3.3 mln of production previously considered using tank leach processing.

It added estimated operating costs at the project would come in at 18.07 usd per lb of U308 after Vanadium pentoxide (V205) credit (20.08 usd per lb without) and estimated capital expenditure at 461 mln usd.

UraMin CEO Ian Stalker said: 'SRK's interim results have exceeded expectations and we look forward to completing the Feasibility Study and beginning the development stage later this year.'

SRK's model envisages a two-year pre-production period, followed by a production period of eight years producing 61 mln lbs U308 and 20 mln V205.

UraMin said a trial mine is planned for the fourth quarter of 2007 and Trekkopje should commence commercial production in the fourth quarter of 2008 at initial production rates of 4 mln lbs per annum scaling up to in excess of 8 mln lbs within two years thereafter.

Earlier today, UraMin said it was planning to evaluate its strategic options in light of the consolidation taking place in the uranium mining sector.

The company is also developing its properties in the Central African Republic and South Africa to the definitive feasibility study stage.

newsdesk@afxnews.com

nes

I think it is a great opportunity to get in at 254p now with regards to news above.

rsi remains significantly o'bought, as UMN has been for about the last month ..... if FTSE pulls back (retrenches / consolidates), which is also well overdue, then expect UMN to do likewise, probably disproportionately, following general trend and also likely appearance of profit takers in numbers.

imo, there is no hurry to dive in now, but better to sit back and wait for 240 or even 230 which are approx 10 and 13 dma levels .... 210/220 would be a better level, but you may find it diff to sit on your hands that long!

looks like your right today cynic 242 and still droping

been right on a few counts today for a change ...... also called SOLA correctly, and sold POG and SERC within a copper or two of their highs ..... and told you guys to follow DOM (buy now! sp fallen back on stright profit taking following first class figures), and SHP which has rocketed following its results.

howver, am not so arrogant as not to own up to howlers i have made in the past

Profit taking , buy and sell and then buy back again .

2nd chance to get in below 2.40

what you see above is not a true price ..... look at the spread ...... 180/260!

Nice 2 mil buy at the end of the day .

A big trade at the end of the day , can they keep the sp down any longer ?

Watching from the side, a few got caught out today, in the mad rush it was up 30p at one stage.

Yes they may have done , but if they sit tight they will be up in the long run . 5 target .

Oh, I thought UMN was very crafty this afternoon. At 15:15 it came up with the Bakouma update, then the sp went up by 30p and within the hour, it came up with a share placing/funding - sp fell thereafter. I think it may fall back to 230p in the short term.

98 sold out ?

no not yet fliper

UMN and VML seem to be current faves of the month as uranium plays (what happened to Ridge Mining?) ...... given the surge in uranium oxide prices, i guess that creates some raison d'etre for buying in to a producer ..... being an idle git, would someone enlighten me as to which if UMN and VML is the better actual producer and why.

VML is probably better as it is cash-rich and is already a producer and funding for its own projects whilst UMN is currently looking for funding and finances.

Why are there so many 420 shares sell in UMN at the end of the day???

They had the same thing on kmr .

I think we wil see another thrust up to 3 this week . Over halfway to the 5 target .

Hopefully but I don't think it will reach 3 this week. The Mail On Sunday said sell to take profit in UMN.

fliper 5 or 98 sell and take profit you guys kill me .............i think i listen to cynic
lol...............lol.........naaaaaaaaaaaa

micky .... i know you were only teasing and i mind not at all, but i still stand my my view that FTSE is due for a sharp fall ..... this will inevitably blow the froth off small E&P shares pretty dramatically, so as i have said before ..... you pays your money, you takes your choice.

Micky, congrats u r already in profit now from UMN. I leave it to u as more news is awaited.

i fill bad but this time ive gone with cynic and 98 if it comes down i'll buy back in if not i'll buy VML..............thanks for your views

micky, you've sold and made a profit, congrats. Look at GNG - now 62.5p. I think it has extremely good potential.

thanks 98 iam going to look now ..........have a look at (GLA) for me let me no what you think of it ...........

The whole market down today , cynic must have a big smile on his face .

98 that (GNG) looks very good what you think the top end is..........i think it will come down a bit. Its had a good run i will buy ...............cynic good call hope you did not lose to much today...........(my view that FTSE is due for a sharp fall ..... this will inevitably blow the froth off small E&P shares pretty dramatically)
you are the man thanks

I think GNG has a very good potential and the management looks very competent.

more of a wry smile in that i was not totally liquid, but at least liquid enough ...... had a short FTSE position which I closed when index down ONLY 100 .... looked right at the time as it quickly recovered 20, but i then left the office for the day .... should ahve stayed short and more (lol!) ...... FTSE forecast to open down 120, so opening prices will be terrifying, but what happens after that is anyone's guess

FTSE and Dow will move back upwards...this is just a correction.

probably true, but not necessarily tomorrow ...... have closed all index positions as far too difficult to call .... even gold is all over the place

cynic / 98 whats the outlook now on (UMN) can you see this at 300p or do you see more dorps ...............98 as for (GNG) looks like i miss the boat for now but i keep an eye on it.......

micky, I don't think u have missed the boat yet in GNG. It has much more to go.

98 i bought in again on (UMN) but like to buy (GNG) at 60p if i can

Good luck, micky

Hi micky, did u get into GNG today on the retrace? u winning on UMN?

When the market sorts its self out , normal service will follow . Uranium prices will keep going up and so will umn .

fliper how are you nice to see someone backing (Uranium prices )i hope things go back on the up for (UMN) what price you think next week'''''''''

98 got in today.

while UMN sp now seems to have stabilised, i see no hurry to jump on board especially in such volatile markets ..... as was mentioned elsewhere when i raised the Q, UMN has yet to start production whereas VML has (but see my comments there too)

That's what I told u, cynic. VML is cash-generative.
And micky, well done to get on board GNG.

Sorry guys been working , missed all the fun on the markets . This looks like a good price to top up on umn . To late for gng ?

Don't think so.

may not be too late for GNG, but could well be too early! ...... watch the markets very carefully before you put yer dosh on the block

Ouch! I certainly didn't expect this to go down to 203p after all the good news lately. Looks like next support level at 180p.

98 ..... as i mentioned to you this morning on VML! ...... anyway, try the chart below ..... sp has fallen smartly through 25 dma but may well find support at 50 dma, or 180

Agree with u, cynic. 180p next support level.

market looks to be stabilising a bit ...... now only down a bearable 50/60 at 6015 ..... would therefore suggest 50 dma will support, always presupposing Dow does not jump out of the window!

I feel Dow would continue its way down this afternoon considering the yen is still rising and not relenting to any fall yet.

don't forget that the predictor has already built in a fall of 80/100 points .... are you predicting that the fall will be (significantly) greater?

I would say about 100 points

so you are saying Dow to close -200 on Friday's close? ...... disagree; i reckon we'll see a rally though would not better on whether or not it will be sustained

I think it will slide on opening and where it would go next, I would say it downwards again as the yen is still rising.

my money is lodged to argue against you! ..... small long at 12052

You are a brave man, cynic. Hats off to u.

insofar as i can watch pretty much full time and against "real time" and the position is truly modest (so much do i trust my own judgement!), the downside is not too frightening ...... will also put in stop loss

Dow was down 0.3% at opening, cynic

well my new long is now +31, so so far so good

right again cynic hats off to you .......................you must be lol

one good call does not make me the Einstein of the markets ..... it was not remotely rocket science, but merely to do with relativity!

I took profits last week but bought back some today-hope I'm right!

Well done that man . I would have done the same but work got in the way . A good way to increase your holding .

I think its a good time to get more before it goes back up to 2.50

Looks like it is still a bit too early to get into UMN at 214p in view of the market rally which is only 15 points up. Is that a rally???

What will we see the sp finish at today 2.50/75 ?

i think this is good news.....................................

UraMin Inc
07 March 2007



7 March 2007

UraMin Inc.
("UraMin" or the "Company")

117.0 Million Private Placement Financing



NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES


UraMin is pleased to announce the size and pricing of its previously announced
private placement. The offering consists of the private placement of 52.0
million ordinary shares of UraMin at a price of 2.25 per share for gross
proceeds of 117.0 million (the equivalent of approximately US$226 million or
CDN$266 million). The Company and BMO Capital Markets, as lead agent, on behalf
of itself, Canaccord Adams Limited and Sprott Securities Inc. (the "Agents")
have entered into an engagement letter pursuant to which the Agents have agreed
to act as agents for the private placement. Closing is expected to occur on or
around March 20, 2007. UraMin intends to use the proceeds of this private
placement to partially fund the capital required to finance the Company's
Trekkopje Project in Namibia to commercial production, currently scheduled for
late 2008. The private placement is subject to regulatory approval. UraMin
(www.uramin.com) is listed on the Alternative Investment Market of the London
Stock Exchange plc and the Toronto Stock Exchange, trading under the symbol UMN.


UraMin currently has approximately US$88 million of net free uncommitted cash in
its treasury which will primarily be used to carry out trial mining of the
Trekkopje Project and to advance to the feasibility study stage both the Ryst
Kuil Uranium Project in South Africa and the Bakouma Uranium Project in the
Central African Republic. The additional US$226 million will be used primarily
to advance the Trekkopje Project to commercial production including the
procurement of long lead time capital cost items and carry out development work
thereon.


GLOSSARY


Feasibility a comprehensive study of a deposit in which all geological,
study engineering, operating, economic and other relevant factors are
considered in sufficient detail for it to reasonably serve as
the basis for a final decision by a financial institution to
finance the development of the deposit for mineral production


Uranium heavy silvery-white metallic element found in several minerals,
notably uraninite and carnotite

in theory, that underpins the price at 225, though it would be very foolish to take that as fact ..... to my mind the key is that the funding is for the Trekkopje Project in Namibia to commercial production, currently scheduled for late 2008. ...... That's a pretty long way away and an awful lot can and will happen in the meantime.

in my usual most humble opinion, sp will now get ahead of itself, if it has not already done so, and will fall back sharply as (a) the next lurch of the present crisis occurs and (b) as investors suddenly realise there will be nothing produced for many a long day.

251p and buying fliper good call if it stay;s like this but i;am sure someone will say wt go up must come down ah cynic.i do nt question you merely ask you.

ok then ..... a little non-financial bet with all you punters ..... i bet that sp will not (in the next couple of weeks say) get through the high of 260 and hold

250p will be a good holding before the 300p

Unfortunately I do agree with cynic

Well i have just checked the sp at close . 2.50 , just in the spread . Cynic , just take a punt , 3 will not be far away .

98 you let me and fliper down i used to listen to what you had to say ............lol
next week flip 300p hold on

fliper .... would rather take a punt on the Cam! ...... on info received here, would rather buy VML, but am buying neither ...... am happy to hold long gold and am considering further short Dow ...... both far far better bets with greater return likely

nice to have you back cynic...........missed you today

been working .... lol!
out of the office visiting that big and nasty City of London!

btw, have just further shorted Dow ..... have been told that Goldman Sachs (GS) is a good indicator of where Dow is heading ..... it was virtually unchanged an hour ago but now -131, albeit that this is a true heavyweight

cynic do you see the $ going back to 89 to the 1

no .... i think $ is already overbought and have backed the company's surplus $ with it! ..... UK is very likely to increase iterest rates while US (imo) will hold steady or may even reduce .... therefore $ will weaken .... current strength is predominantly (i think) related to unwinding of carry trade positions (but don't ask me to explain the intricacies!)

Dow Jones 12,189.00 -18.59 -0.15% looks like a good day tomorrow i think this is a good indicator FT100 and mining look like your right cynic no 265p maybe not......... as for your thought on the $ thanks time to off load

hi

SP spread 2.65/75 , we will see

Fliper, looks like UMN will reach 500p by the end of the month if it continues at this rate of rise.

lovely day! hope we do reach 5 although on the other side guesstimates are treble that-once production starts.

now then, now then, now then - to usurp from Jimmy Young - sp has reached a critical point ..... will it burst through and hold or retrace as i suggested earlier?

265p and sold nice day if it go;s down i;m in again this is a great company ..............o i think this will go past the 265p and hold thats my gut feeling but due to the unforseen i have to sell.

Great News out today on reserves UMN are sitting on in Africa--they have just doubled in size making the co the second biggest after BHBilliton! details on the other side.

is the news accurate? ..... i see no rns

3 target will be hit soon . 9 month target of 5 is going well .

moneyplus details on the other side were??????????

468 , have you got in again at 2.49 ?

no maybe tomorrow i'm looking at a new one fliper

OK a brief outline but it's worth looking on adv etc yourself you can filter out most of the rubbish and it gives you a daily idea of where all the action is in the market. The update on testing today says that the Trekoppje project in Namibia could be more than double previous estimates making it the county's biggest mine and one of the largest uranium mines in the world!!!!! Chairman of UMN is Samuel Jonah non exec president of Anglo gold ashanti, more later.

If true , the sp could rocket and the 9 month target of 5 could be hit . 468 any clues on other share ?

nous verrons! ..... meanwhile you gold diggers and other prospectors, take a peek at CER (and thread)

sorry my husband threw me off the computer--well not literally, he'd have a job!!
anyway to continue my previous post.Samuel Jonah is also a member of Mbeki's advisory council for S A. Many bought in simply because of his involvement with the company----- there are many other heavy weight board members and a large proportion of the shares are held by institutions so not many in free float. umn is listed in canada as well and there is a great deal of support over there-the uk price usually lags slightly behind canada. Target price overheard in the city winebars yesterday lunch time was 20 a share. Now before cynic comes in on that I know you can take the city boys with a big pinch of salt--but it does make 5 look more achievable.

anything sensible will do provided there is genuine news to support and not just gossip and hearsay

I think we may see a new high this week , and 3 will not be far away as well .

well you bastards, i have let you talk me into this one, so your prognostications had better be right .... lol!

hahaha...you had better be grateful to us.

that may depend on whether or not i win my 100 bet on CHP first drilling result!

When will the CHP news come out, cynic?

no idea, but take it you know about the bet? .... it's one i would very happily lose

moning all ........cynic did you buy in to (UMN),........are you mad we was only joking

moning all ........cynic did you buy in to (UMN),........are you mad we was only joking

lol...we are all mad anyway

i am afraid the new moon made its baleful influence felt and i fear i did!

why did you not buy (vml) did you not say it was a better buy then (UMN)......Cynic Cynic Cynic............ you have let me down

can't remember ..... old age + new moon + some drivel on this thread a few days back from memory! ...... may have a little dabble at VML as well, but do not want to get too thinly spread or over-exposed in these markets ...... hence why i am staying olut of SOLA at least pro tem

cynic can you look at (GLA) for me pleace let me no wt you think of it.........

certainly a 12/18 months ago GLA had a very bad market image, but will post something on that site for you if i rmember .... currently doing some real work (lol)

Cynic , Let hope the profits will buy you a new square driver , or a new set of clubs and membership of your club .

going in the right direction today--thank goodness or we'd never hear the end of it! lol.

i tried out the new square-headed driver, but certainly did not greatly like the feel and sound of it ..... howver, on that day i was swinging badly, so may give it another go ...... my current Cobra driver is easy to use but unfortunately of the illegal variety that needs to be changed before the end of the year.

by the way, i have just taken some money off the table (not here) as it looks distinctly as if Dow will have an (or even 2/3) off day today, which will undoubtedly drag FTSE with it

cynic-o/t have you noticed EIIB good results but overlooked.

M/ plus will the sp hold having cynic on board !

fliper--could be a rocky ride now!!

m/plus I hear cynic went to a fancy dress as dr doom , or was it the other way round !

RNS out , another dig underway . Good results will push the sp up in the 3/ 4 area

Yes they are drilling for diamonds now-am I correct?

Not much reaction to yesterdays good rns . If results are good then the sp will fly up to 4 .

first has to break through this level which seems to be proving rather stubborn

Oh...it is because you are on board now, cynic. LOL!

The high for these was 2.82 , the graph would look good if they reached over 3

but currently sp cannot break into new high ground and, moreimportantly, hold it .... with Dow heading swiftly south (glad i'm short and shall not say told you so some days back), UMN is likely to follow suit in the morning

Cynic, I didn't know you are short on UMN.

You are right today on shorting UMN, cynic.

i am NOT short of UMN .... i am long ..... merely made an observation

UMN is not doing too badly...down 14p on a day like this!

Somebody just dumped 550,000 shares at 225p.

lets get them all up for the mroning how dose tomorrow look cynic

Well the ft was well down , umn down 14p is not bad . A good day and we will gain this in 15 mins .

well i'm in @239p, maybe could have left it til tomorrow, if dow closes 11,950 or less and far east follow suit, i think we will test 5950 or lower in morn... who knows

I wonder where cynic is today. He's been very quiet. Spoken to him once early this morning.

been playing golf!

morning cynic nice to have you back hope today is little better then your golf

cynic , snap on the golf course as well . A better day for umn .

Were will we go with the sp this week ? Lets hope we get towards the 2.82 high .

The JP Morgan report is the latest indication that nuclear, for long the "renewable that dared not speak its name", is back in vogue. The renaissance, driven by growth in the energy-hungry markets of the US and China, is fuelling an explosion in the cost of uranium and attracting the interest of hedge funds in search of the next big thing.

this is a good read
http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2007/03/13/ccnuclear13.xml

Holding steady around 2.50 , they started on their lastest project on march 9th , an update could be due soon and positive results could push the sp to 3 .

UraMin Inc
20 March 2007



20 March 2007
UraMin Inc.
("UraMin" or the "Company")

UraMin Completes US$226 million Private Placement


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES


UraMin is pleased to confirm that it has completed its previously announced
private placement of 52.0 million ordinary shares of UraMin at a price of 2.25
per share for gross proceeds of approximately US$226 million. BMO Capital
Markets Inc. acted as lead agent for the financing on behalf of a syndicate that
included Canaccord Adams Limited and Sprott Securities Inc.

Subject to compliance with applicable law, the shares sold through the placing
may be traded through AIM immediately but will be subject to United States
resale restrictions, and resale restrictions in Canada for the period from
closing until 21 July 2007. The new shares rank pari passu in all respects with
the existing ordinary shares in issue.

The net proceeds from the private placement will be used primarily to advance
the Trekkopje Project towards commercial production.


BACKGROUND INFORMATION

The Company was established in 2005 to acquire and develop mineral properties,
predominantly uranium. Following the private placement the Company currently
working capital of approximately US$300 million and a market capitalization of
approximately US$1.3 billion on an undiluted basis. UraMin (www.uramin.com) is
traded on the Alternative Investment Market of the London Stock Exchange plc and
the Toronto Stock Exchange under the symbol UMN.

UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting (license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for prospecting licences will be successful.)

RNS out , now we will see the sp move up .

the nub of the RNS is below ...... it really isn't THAT exciting and i see no reason for that news to proel sp through what is starting to be a bit of a nuisance resistance at 260

"Ian Stalker, Chief Executive said 'UraMin's Senegalese project represents an
exciting advanced greenfields opportunity in an area of established
prospectivity. The project, along with our established greenfields projects in
Canada, Mozambique and Tchad, serves to provide depth to UraMin's exploration
portfolio."

Looks like 250p is also a resistance now.

looks more like a support than a resistance

240p is the support

Nice start today .

chart below shows 25 and 50 dma (200 dma has been left far behind ...... support seems quite good on 25 dma level ..... real interesting point has been the testing of the all-time high which, so far, has not been been breached ...... this time lucky?

UraMin Inc
27 March 2007

Tuesday 27 March 2007



UraMin Inc.
("UraMin" or "the Company")

Preliminary Results
for the Year Ended 31 December 2006

Significant progress since AIM Listing

Landmark year in prospect


UraMin (AIM and TSX: UMN), the emerging uranium producer, announces preliminary
results for the year ended 31 December 2006, its first preliminary results since
listing on AIM in April 2006. The Company's major assets are the Trekkopje
Project, Namibia; the Bakouma Project, Central African Republic; and the Ryst
Kuil Project, South Africa.



Highlights



Admitted to AIM in April and listed on Toronto Stock Exchange in
December under the symbol "UMN"

Feasibility Study for Trekkopje in Namibia on track for completion in
the third quarter of 2007

Acquired 90% interest in the Bakouma project in CAR and Feasibility
Study underway

Licences granted at Ryst Kuil in South Africa and SRK appointed to
manage Feasibility Study

Current working capital approximately US$300 million and no debt

Increased portfolio of exploration properties in Africa and North
America



Ian Stalker, Chief Executive of UraMin, said:



"UraMin has made significant progress on all its mineral properties in 2006 and
now has three feasibility stage uranium projects underway all of which are near
term production opportunities. Following the recent fundraising UraMin has
approximately US$300 million to advance these projects. A trial mine is planned
at Trekkopje by the end of 2007 and we expect to be in commercial production by
the end of 2008. We are on track to meet our target of being a mid-tier uranium
producer early 2009."



For further information:


UraMin
Ian Stalker, Chief Executive Officer Tel: +27 (0)11 783 5056
Neil Herbert, Finance Director Tel: +27 (0)11 783 5056

Canaccord Adams Limited Tel: +44 (0)20 7050 6500
Robin Birchall / Tyler Broda

Toronto Tel: +1 416 643 6924
Steve Vaughan

Financial Dynamics Tel: +44 (0)20 7831 3113
Ben Brewerton / Edward Westropp







Chairman's Statement



The scale of the world's nuclear industry is growing and UraMin is very well
placed to take advantage of this growth in demand for uranium.



Global primary reactor-driven demand is currently estimated at 147 million lbs
of U308 each year. In 2005 only about 64 per cent of this demand was satisfied
by mine production with the balance being supplied from secondary stockpiles.
As these secondary stockpiles decline the demand for new sources of mined
uranium is growing and the price of uranium has been rising.



Moreover, concerns over global oil supplies and global warming have renewed
interest in expanding nuclear energy supply. Improved reactor performance,
extended fuel cycles, increased generating capacity and reduced operating costs
are also contributing to a revival in nuclear power. There are already 441
nuclear power reactors operating in 31 countries, however, as of January 2006,
there were a further 24 reactors under construction with an additional 154
pending approval or approved. In addition to new plants, in many cases the
generating capacity of existing reactors is being increased and plant life
extended. It is estimated that over 90 per cent of the reactors in the United
States could apply for and be granted life extensions.



With three advanced-stage uranium projects, UraMin is moving quickly towards
production and is set to become Africa's leading uranium producer. We look
forward to a rewarding period of growth.



Samuel Jonah KBE



Review of Operations



Trekkopje Project - Namibia



The Trekkopje Project* is the largest and most advanced UraMin project, and is
located in Western Namibia in close proximity to other operating uranium mines.
The Trekkopje project is 100% owned by UraMin Namibia, a wholly-owned Namibian
subsidiary of the Company. The Trekkopje Project consists of two broad,
shallow, calcrete uranium deposits: the Trekkopje deposit and the Klein
Trekkopje deposit.



In November 2006, the Ministry of Mines and Energy ("MME") formally granted
UraMin Namibia an Exploration Licence ("EPL") covering the 37,368ha of the
Trekkopje Project area. In addition, an EPL was granted covering 91,611ha of
surrounding area with highly prospective exploration potential.



SRK Consulting (US) Inc. ("SRK") of Denver, Colorado was retained by the Company
in May 2005 to prepare a Definitive Feasibility Study ("DFS") on the Trekkopje
Project which is expected to be completed in the third quarter of 2007.



Since the year end, SRK has published its interim report which demonstrated the
potential for simple and cost-effective open pit mining, as 80% of the known
mineralisation is shallower than 15 metres, below a nominal 2 metre alluvial
surface. Heap leach is currently the preferred processing technology following
successful initial test work that indicated recoveries of approximately 75%. On
this basis, SRK has predicted a production profile for Trekkopje rising to 8.4
million lbs U308 per year. This compares favorably with the 3.3 million lbs
U308 per annum of production previously forecast using tank leach processing.
Importantly, water consumption using heap leaching is substantially lower than
would be the case with tank leaching.



A trial mine is planned for the fourth quarter of 2007 and commercial production
is planned for late 2008 with an initial estimated production rate of 4.2
million lbs in 2009 scaling up to 8.4 million lbs in 2011 for total production
of 61 million lbs U3O8 and 20 million lbs V2O5 . SRK estimated operating costs
of US$18.07 per lb U3O8 after credit (US$20.08 per lb without V2O5 credit) and
estimated start up capital expenditure of approximately US$0.5bn.



Bakouma Project - Central African Republic



The Bakouma Uranium Project** is a high grade deposit located near the village
of Bakouma about 100km north of the Central African Republic's (CAR) southern
border with the Democratic Republic of the Congo. The Project consists of ten
documented uranium deposits in close proximity to one another. A review of the
studies conducted by Compagnie des Mines d'Uranium de Bakouma and Societe de
l'Uranium Centrafricain between 1969 and 1977 revealed an exploration target in
excess of 7 million tonnes at an average grade in excess of 0.26% U3O8 (which
translates to 18,000 tonnes or 41 million lbs of U3O8). (1)



In May 2006, the Company acquired a 90% interest in a mining license granted
over the 10 known uranium deposits in the Bakouma Basin. The Company also
entered into a mining convention with the Central African Republic which
provides for a stable and favourable fiscal regime for the duration of the
25-year mining licence.



An exploration programme, largely consisting of a confirmatory drilling
programme, commenced in August 2006. Phase 1 of this programme will be completed
shortly. The programme consists of 238 holes and is expected to enable UraMin
to issue a NI 43-101 compliant resource statement covering an area representing
approximately half of the targeted 41 million lbs.



In December 2006 UraMin awarded the DFS for the Bakouma Project to GRD Minproc
(Pty) Ltd. The DFS is scheduled for completion in the second quarter of 2008.



Since the year end, in February 2007, the Company was awarded two additional
prospecting licenses which extend the Bakouma project area to 2,900 sq. km.





(1) Based on historical estimates completed by Compagnie des Mines d'Uranium
de Bakouma and Societe de l'Uranium Centrafricain between 1969 and 1977 These
historic estimates do not comply with NI 43-101 standards and should not be
relied on as they do not conform to mineral category definitions used in codes
recognized by NI 43-101.





Ryst Kuil Project - South Africa



The Company's assets in South Africa are comprised of a 74% interest in both the
Ryst Kuil and the Riet Kuil properties (together referred to as the "Ryst Kuil
Project"). The Ryst Kuil Project is located approximately 50 km south-east of
the town of Beaufort West in the Western Cape.



UraMin has also identified several areas of interest in the Sutherland district
and hopes to acquire licences in this area in due course. The area has been
explored and evaluated in the past by various companies including Union Carbide
Corporation, Anglo American and Esso Minerals Africa Inc.



Since the year end, SRK/Senet has been appointed to undertake Consulting and
Engineering Services for the completion of the DFS for the Ryst Kuil Project.
This work is expected to commence shortly.



An exploration programme designed to deliver an NI 43-101 compliant resource
statement to DFS standard within 12 months is underway. The Directors believe
that the property is capable of being placed into commercial production by late
2009 at the rate of 2.6-3.0 million lbs uranium per year with significant
molybdenum by-product.



Financing



UraMin has raised approximately US$397 million for operations since it was
admitted to the AIM market of the London Stock Exchange. In April 2006 the
Company raised gross proceeds of US$60 million by means of a private placement
of shares. Immediately prior to the Toronto Stock Exchange listing in December
2006, the Company raised a further US$70 million by means of a placement of
shares. Subsequent to the year end, in March 2007, the Company completed a
further placement of shares to raise an additional US$226 million. At the date
of this report the Company has working capital of approximately US$300 million
and no debt.



Outlook



UraMin has made significant progress on all its major projects since its
admission to AIM in April 2006 and following the recent fundraising it is well
placed to advance these projects. A trial mine is planned at Trekkopje by the
end of 2007 and the Company expects to be in commercial production by the end of
2008. UraMin is on track to meet our target of becoming a mid-tier uranium
producer





Glossary


DFS Definitive feasibility Study: a comprehensive study of a deposit in which all geological, engineering,
operating, economic and other relevant factors are considered in sufficient detail for it to reasonably serve
as the basis for a final decision by a financial institution to finance the development of the deposit for
mineral production
EPL Exclusive Prospecting License
U308 ppm Triuranium octaoxide
V205 Vanadium pentoxide
NI 43-101 National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion Policy
43-101CP


Measured A 'Measured Mineral Resource' is that part of a mineral resource for which quantity, grade or quality,
Resource densities, shape, and physical characteristics are so well established that they can be estimated with
confidence sufficient to allow the appropriate application of technical and economic parameters, to support
production planning and evaluation of the economic viability of the deposit. The estimate is based on
detailed and reliable exploration, sampling and testing information gathered through appropriate techniques
from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to
confirm both geological and grade continuity.


Indicated An 'Indicated Mineral Resource' is that part of a mineral resource for which quantity, grade or quality,
Resource densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow
the appropriate application of technical and economic parameters, to support mine planning and evaluation of
the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing
information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings
and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.


Lb Pound
Uranium Heavy silvery-white metallic element found in several minerals, notably uraninite and carnotite
Tpd Tonnes per day





*Trekkopje Project, Namibia

The resource information contained in this announcement has been reviewed by
Allan Moran, Principal Geologist with SRK. He is the Qualified Person overseeing
the Trekkopje Project drilling and resource estimation activities for the
purposes of NI 43-101 compliance. Mr. Moran has sufficient experience relevant
to the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking, to qualify as a Qualified Person for the
purposes of this announcement.



Resource estimation by SRK follows CIM (Canadian Institute of Mining and
Metallurgy) resource classification categories, and resources were determined
using background-corrected eU3O8 radiometric probe data, ordinary kriging for
grade estimation and industry standard block modelling techniques. Industry
accepted "Best Practices Guidelines" were followed in data collection,
documentation, analyses, and reporting. UraMin has a QA/QC program in place for
sample analytical data and down-hole radiometric probe data. The stated
Trekkopje Project resource estimates are based on entirely new drilling data
collected in 2006 by UraMin, and does not include any historical drill hole
data.



SRK's Interim Progress Update Report on the Trekkopje Project represents the
latest view of project concepts, designs and likely projected outcomes based on
the work conducted to date, industry accepted practice and certain project
specific assumptions. Readers are cautioned that the results reported are not
definitive and maybe subject to change as further work is undertaken. Project
outcomes may ultimately be materially different from those projected in this
report.



**Bakouma Project, Central African Republic

Information in this document which relates to the Bakouma Project, Central
African Republic has been reviewed by Mr. G M Greenway of Snowden Mining
Industry Consultants. A Registered Natural Scientist with the South African
Council for Natural Scientists. Mr Greenway is an independent consultant to
UraMin and has consented to the inclusion in this announcement of his name in
the form and context in which it appears.





Financial Results





Unaudited consolidated income statement for the year ended 31 December 2006




Year ended 31 December 10 month period ended 31
December
2006 2005
$ $
Operating loss (25,846,279) (3,103,897)

Finance income 2,063,268 220,958
_____ _____
Loss for the year attributable to (23,783,011) (2,882,939)
equity holders of the parent _____ _____
Basic loss per share (cents) (14.9) (3.3)
_____ _____





Unaudited consolidated statement of recognised income and expense for the year
ended 31 December 2006




Year ended 31 10 month period ended
December 31 December
2006 2005
$ $

Exchange adjustment on translation of subsidiary and (609,703) (2,484)
branch undertakings recognised directly in equity
Loss for the year attributable to equity holders of (23,783,011) (2,882,939)
the parent _____ _____

Total recognised income and expenses relating to the (24,392,714) (2,885,423)
year _____ _____





Unaudited consolidated balance sheet at 31 December 2006




At 31 December 2006 At 31 December 2005
$ $
ASSETS _____ _____
Non-current assets 52,279,915 16,890,165
_____ _____
Property, plant and equipment 2,000,513 1,139,267
Intangible assets 50,279,402 15,750,898
_____ _____
Current assets 97,896,146 25,352,931
_____ _____
Trade and other receivables 1,140,058 779,326
Cash and cash equivalents 96,756,088 24,573,605
_____ _____

Total assets 150,176,061 42,243,096
_____ _____
EQUITY AND LIABILITIES
Equity attributable to equity holders of the 145,526,517 37,547,557
parent _____ _____
Share premium account 167,070,241 40,432,980
Warrant reserve 2,174,388 -
Foreign currency translation reserve (612,187) (2,484)
Retained earnings (23,105,925) (2,882,939)
_____ _____
Liabilities
Non-current liabilities 2,387,723 3,653,624
_____ _____
Finance lease 63,075 -
Installment sale obligation 2,324,648 3,653,624
_____ _____

Current liabilities 2,261,821 1,041,915
_____ _____
Trade and other payables 2,244,478 1,041,915
Current portion of finance lease 17,343 -
_____ _____
Total equity and liabilities 150,176,061 42,243,096
_____ _____





Unaudited consolidated cash flow statement for the year ended 31 December 2006




Year ended 31 December 10 month period ended 31
December
2006 2005
$ $
Cash flows from operating activities (22,526,619) 809,832
_____ _____
Cash flow from investing activities
Interest received 2,063,268 220,958
Purchase of property, plant and equipment (1,014,667) (1,139,267)
Purchase of intangible assets (34,528,504) (15,750,898)
_____ _____
Net cash outflow used in investing (33,479,903) (16,669,207)
activities _____ _____
Cash flows from financing activities
Share capital introduced 138,223,869 42,055,719
Share issue costs (10,034,864) (1,622,739)
_____ _____
Net cash from financing activities 128,189,005 40,432,980
_____ _____
Net increase in cash and cash equivalents 72,182,483 24,573,605
_____ _____
Cash and cash equivalents at beginning of 24,573,605 -
year _____ _____
Cash and cash equivalents at end of year 96,756,088 24,573,605
(period) _____ _____



Notes to the preliminary results for the year ended 31 December 2006



Accounting policies and basis of preparation



Uramin Inc is registered and domiciled in the British Virgin Islands. The
financial statements incorporate the principle accounting policies set out below
and are consistent with those adopted in the previous financial period.



Basis of preparation



The financial statements have been prepared in US dollars under the historical
cost convention and in accordance with International Financial Reporting
Standards as endorsed by the EU. The following principal accounting policies
have been applied:



Basis of consolidation



Where the company has the power, either directly or indirectly, to govern the
financial and operating policies of another entity or business so as to obtain
benefits from its activities, it is classified as a subsidiary. The consolidated
financial statements present the results of the company and its subsidiaries ("
the group") as if they formed a single entity. Intercompany transactions and
balances between group companies are therefore eliminated in full.



Basic loss per share



The loss per ordinary shares has been calculated using the weighted average
number of shares in issue during the period. The weighted average number of
ordinary shares in issue in the period was 160,139,335 (31 December 2005 -
88,072,480) and the loss, being the loss after tax, was $23,783,011 (31 December
2005 - $2,882,939)



Due to the losses incurred during the period a diluted loss per share has not
been calculated as this would serve to reduce the basic loss per share.


Group
Year ended 31 10 month period
December ended 31 December
2006 2005
$ $
Loss for the year (23,783,011) (2,882,939)
Weighted average share in issue 160,139,335 88,072,480
_____ _____

Loss per weighted average share in issue (14.9) (3.3)
(cents) _____ _____



Taxation on loss from ordinary activities



No taxation has been provided for the group for the year ended 31 December 2006.
A deferred tax asset has not been provided due to the uncertainty of when
losses will be utilised.



Segmental reporting



Segmental information is presented in respect of the Group's geographical and
operational segments. Segmental information, assets, liabilities, income and
expenses include items directly attributable to the segment that can be
allocated on a reasonable and consistent basis.

As the business is currently only involved in exploration only geographic
segments have been provided.


Year ended 31 December 2006 South Africa Namibia CAR Corporate Total
$ $ $ $ $
Finance income 21,306 9,132 - 2,032,830 2,063,268
Net loss (5,001,134) (3,943,321) (2,408,709) (12,429,847) (23,783,011)
Total non-current assets 9,004,425 461,710 7,173,786 35,639,994 52,279,915
Total liabilities 2,508,449 121,150 1,198,782 821,163 4,649,544


10 month period ended 31 South Africa Namibia CAR Corporate Total
December 2005 $ $ $ $ $
Finance income 8,177 342 - 212,439 220,958
Net (loss)/ profit 8,254 (380,339) - (2,510,854) (2,882,939)
Total non-current assets 1,113,958 210,886 - 15,565,321 16,890,165
Total liabilities 742,641

Very good , its a good share to be in . 5 target is looking good now . Must top up again .

Nice option of shares to directors and staff , can they wait untill 2017 ? and what will they be worth then ?

the all time high of 260 has now been breached and held for a few days ...... chart = post 248 ...... this should now provide some sort of support, though may be not that strong ..... all other dma's have been left well behind, so they give no clues .... rsi is looking a bit toppy.

watchfulness is key + gut reaction as to when or if to take profits at a given moment

The graph looking good again .

what can you say 290p good support ....... up 13p today bets on 300p and when

Did we talk cynic into buying these ?

i think so maybe he will give as a drink don't hold out for long tho..............lol

Not much profit on 100 shares !

lol.............lol

yes you did but as you said, a long long long way off deserving even the thought of buying yoiu guys a drink ... lol!

i find myself fumbling for my wallet which is the prelude to just possibly buying someone a drink ..... now which of you spongers reckons he deserves that?

Yes , the throut is a little dry . As i have said before , the target is 5 and i feel they will do it .

champers for me--5 pound when we get there!!

by the way cynic- don't miss out on MXP--still a long way to go with that one I feel.

I see the sp went to 3.21 , mm got a few punters on a rising buy orders .

very difficult to judge this one ...... as a precautionary, i guess one should put in a trailing stop .... this evening, 25 dma is conveniently in line with another one of potential support - i.e. 260 - but it is rising sharply, but rsi is now a bit o'bought ...... strangely buys and sells today were very evenly matched

hi cynic
i think fliper is the man your looking for as he put me on to it as well but wait a few weeks befor you do..... if you go in to your wallet the hole market could crash
.......lol

i am already in UMN ...... was merely contemplating protecting profit which, to my mind, is never a silly thing to do

its not a bad thing cynic i've done this 2 time with this one and it still go's up i think there is so much more to come from this one......would look at 5 .........long

remember that i tend to trade rather than hold long term and nothing goes up in a straight line ...... that said, i certainly seem to have sold TAN prematurely, albeit at a good profit, but PFC (another first rate company) has fallen since i sold, though i am almost certain i shall reinvest there is due course

Yes the sp will move up and down but long term its moving towards the 5 target .

mm lowering the sp to trigger stop loses , do they need shares for a big buyer ?

i sold this morning now iam waiting to buy in we were wright cynic ............now were would you say agood buy in would be 260p / 265p or will it go up from here?
one $ to the man that gets it wright

I still think the mm are filling a large buy order .

fliper, I think it is overbought at the moment.

Lots of big trades now reported , I bet that 1.3 mil trade took some filling . Next week could see the sp at 3.50 me thinks .

well sort of ..... trade in UMN was approx double the average over the last 3 months ..... BUT VML trade was 7 times!!

2007-04-13 17:10:00 Buy 85,000 289.25 245,863 283.25 285.00 Normal
2007-04-13 16:48:00 Buy 1,311,491 286.25 3,754,143 283.25 285.00 Bargain condition
2007-04-13 16:44:00 Buy 100,000 289.50 289,500 283.25 285.00 Bargain condition
2007-04-13 16:38:00 Buy 83,678 290.00 242,666 283.25 285.00 Normal
2007-04-13 16:35:00 Buy 215,000 285.00 612,750 283.25 285.00 SETS order driven
2007-04-13 16:29:00 Buy 1,000 285.00 2,850 283.25 285.00 Automatic

new chart ..... red = 25 dma; green = 50 dma ..... 200 dma left far behind ..... ris getting quite heady.

next obvious resistance to my mind (wish i had more sophisticated chart software and new how to use it!) is the psychological barrier of 300 with all time high at 306 ...... therefore hard to find good logic to buy at current level (295)

Thanks cynic for your advice.

I think this week it will shoot up towards 3.50 .

on verra!

cynic ?????????

si????

hola

u old tart u!

Who?

Times today:

Whispers of bid interest in UraMin and Uranium Resources

I feel the high will be beaten soon .

certainly a good bounce today whereas VML has barely moved ...... however, volume is barely 20% of average over last 3 months

Large cap v small cap .

Sitting around 3 for some time now , we need a good update to push it on .

sp is clearly struggling to break 300 barrier ..... therefore do not be surprised if it backtracks to rising 25 dma before a new assault

and keep an eye on your non ex Chairman ,Sam Jonah . The man is an utter charlatan and along with his friend -a very unsavoury Mr. Wade Chewayko who has a reputation in even the corrupt Nigeria as an utter fraud/ confidence trickster And it takes one to know one . . During thier stewardship of EEL they managed to take acompany with a s/p of 380p to approx 25p ...............And all whilst prospecting for oil in a region WOODS and MCKENZIE called "The new north sea" Every other expo succeeded there. Not at all making the interpolation the same will happen here as i believe this is a stock with enormous potential BUT so was EEL !! ......BUT i wont invest whist that imbecile lackey with his cronies have anything to do with the company ; and i would carefully watch out for ANY j/vs that are made .........Juste a word to the wise ,,,,,,@+ J

cynic , about time for one of your charts .

sorry flips .... herebelow as promised ..... with VML struggling at the moment, it is certainly an opportune time to revisit ..... note the prob sp has with breaking through this 300 level ..... however, once it does, then it could be like a cork out of a bottle .... note too that the rising 25 dma looks to be giving good support and rsi is undemanding once again



red = 25 dma
green = 50 dma
black = 200 dma

I'm out now as it seems to be slowing down and I'm happy to cash in. May jump back in later.

me too .... but may well buy if sp drops back to thaty 25 dma level

I'm now into You- Ged- and Au. as I'd like to have some Blinxk shares when they split.

Sorry to see you guys out , but i feel good news is just round the corner which would put the sp up to 3.50

Are u still in VML, cynic?

yes ...took a healthy profit and then allowed greed to sucker me back in!

this could be the (quite) long awaited break for UMN's sp ..... it has really struggled to get through 300 and hold ..... see posts 278 and 295

Good RNS today should move on now .

sorry to say it, but sp has failed to hold yet again .... i see i mentioned 300 as a key level earlier ..... i think it should actually be about 308 which was the closing all time high

ft down 60 pts , bounce back wednesday . could be up to 3.25

i c u have downgraded then as you were predicting 3.50 just before w/e .... lol!

The weeks not over yet !

so wednesday has now become by end week? ... you do mean Friday 11th May 2007 i trust!

Cynic , now umn is trading above the 3 mark , what does your graph say now ?

funnily enough, have just pondered (on VML thread) whether or not UMN is not currently a better bet than VML (got singed there! silly greedy boy!!) ..... have alook at the chart on post 278 ..... current level is spot on the all time high again ... has tried and failed a couple of times to hold above ..... perhaps this time lucky?

hope so, cos i have stuck some money in!

3.15 are we getting ready .

Could be the next stick on the graph .

what for? ... round of golf? ... it's pouring here but mid 80s in Spain where i shall be from tomorrow until monday evening .... in part, that was what tipped me into dumping VML - i.e. in case it went truly sour when i could not monitor almost constantly

All foward now after good RNS yesterday .

but (for me) very difficult to determine where any upward movement should take sp, or where a sensible or logical target should be set

Good news around the corner , and a new high will make cynic smile !

"Bloody hope so!" he grizzled. "Sort of made the wrong call when I sold out of VML at a thumping loss, albeit that obeying the discipline was 150% correct"

SHANGHAI (THOMSON FINANCIAL) - State-owned China National Nuclear Corporation has approached British uranium miner UraMin Inc, an official with the Chinese company said.

'We are approaching each other but we're still in the initial stages,' said Liu Xuehong, deputy general manager of the Chinese corporation's uranium procurement unit.

Liu told AFP she did not know if the talks would focus on buying uranium from UraMin or if the corporation viewed UraMin as a takeover target.

UraMin, based in British Virgin Islands and listed on London's AIM market, is an 'emerging African uranium producer' with mineral rights in Namibia, South Africa, Mozambique, Botswana, Chad and the Central African Republic, according to its website.

China is actively seeking uranium resources in other countries as part of its efforts to expand the nuclear power industry.

A take over bid could push the sp to 5

well so far the market, quite rightly, is taking the Chinese story as just a badly attempted ramp

I sold out too early here when it dropped back--moved the profit into Hawk. What do you think of Hawk cynic?

don't know m8 ..... have only seen it en passant ..... i know it's a new issue, but what do they do?

ceo described it as a cash cow! US based and have the rights to reopen 60plus old wells--100% success rate so far on those opened and the higher oil price makes this profitable. have a look over on the other side- good thread.

Hawk may well be doing well, but UMN is not doing so badly anyway

thanks fez ..... china news is actually 2/3 days old ..... who/what are Thomson Financial?

cynic - Wall Street Journal

and if you look at the important bit - the share price! - you will see it has dipped again ... lol

cheap as chips I'd say!!

buy potato futures .... low crop yield forecast

ha-ha! nice one.

The present dip is just part of the normal cycle and is to be expected -shares go up but down too. Think of it as a buying opportunity.

In all honesty I feel this company will be bought out shortly. If not then I can see the sp going over 5 before years end.

Anyone interested should read the following:



Macquarie considers uranium bear territory

Read full article





Has Uranium One moved too far too fast?

Read full article





Nuclear-Free In New Zealand's Future

Read full article





Kayelekera uranium project - Paladin, Malawi government to appear before High Court June 19

Read full article

so tell me et, are you a holder of any uranium mining stocks? ...... if so, will you be jumping out or even shorting? ....... while it is always interesting to read about other deposits and potential mining projects, do rememeber that there is a very long lead time between discovery and truly commercial production, and that is assuming local politics (cf Queensland) do not block or severely hinder the exploitation.

meanwhile, existing producers or those companies close to it, are still likley to be t/o targets, for that is a much cheaper way for the big fish to acquire new assets.

for myself, i am certainly happy to stay with both UMN and VML for i think both have quite substantial upside even in the relatively immediate future.

cynic, me? a holder?? Do me a favour!! Once the market comes around to realising that everyone with a pick and shovel is charging off into the hillsides to find uranium then the age-old time-proven market fundamentals of supply and demand will kick in. Then watch the price plummet. Uranium isn't as scarce as some think it is - it's had a (unwarranted) stigma attached to it, one which is now being overtaken by common sense. But over-supply will occur and the market will react accordingly. It's all too reminiscent, to me, of the dot-com boom. You remember that time? - the one where nothing could ever go wrong and too many ended up broke. Sounds to me like a lesson to the wise.

in that case, are you short?
though you are obviously right about supply/demand etc, as i mentioned earlier, oversupply to drive down prices is a very very long way off ..... further, minnows such as UMN and VML still make potentially tasty morsels for the big fish, though i would also hasten to add that buying against the vague possibility of t/o is very bad logic and strategy.

I never reveal my strategy.

so you are a basic tosser pretending that your minuscule investment decisions will influence the market ..... if so, how arrogant; if not, what are your trying to protect? ..... your virginity, which in itself an overvalued commodity, even if through perversity the reverse of supply/demand applies?

Oh dear, please behave.

moi behave? ..... the impossible i do daily, but that does not mean you should expect miracles! lol

Boom! Boom!

(no pun on uranium intended!!)

silly billy! ..... enjoy the rest of the w/e ..... about to whizz off to Munich for a couple of days, but dare say shall log in at least briefly during that time.

...thought this deserved another airing


With so many companies now "running for the hills" and with so much uranium flooding the market the uranium price will plummet - leaving share prices in tatters and resembling the dot-com crash scenario !!!.

According to surveys by India's Atomic Energy Department, there could be up to 10,000 tonnes of uranium in and around Domiasiat

Read full article

like whats happening guys.. no rns...yet

as i speak...


UraMin in Negotiations Regarding Potential Sale of Company


UraMin Inc. ('UMN' TSX and AIM) announces that it is in negotiations with
respect to a potential sale of the company. No assurance can be given that the
negotiations will be successful.


For further information:

Nominated Advisor
Canaccord Adams Limited
Robin Birchall
Tyler Broda
Tel: +44 20 7050 6500

Toronto
Steve Vaughan
Tel: +1 416 643 6924


Background

UraMin (www.uramin.com) was established in 2005 to acquire and develop mineral
properties, predominantly uranium. Following the private placement the Company
currently has a market capitalization of approximately US$1.9 billion on an
undiluted basis. UraMin (www.uramin.com) is traded on the Alternative Investment
Market of the London Stock Exchange plc and the Toronto Stock Exchange under the
symbol UMN.

UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for prospecting licences will be successful.


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
Company's business or proposed business, which are not historical facts, are
'forward looking' statements that involve risks and uncertainties, such as
estimates and statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent 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

But will they pay 5 a share ? sell order set at 5 , I have been telling everyone for some time . The next week should see the sp rocket . Cynic you must be happy now !

after playing appalling for 36 holes on Saturday, i need some cheering!
just picked up on the news and see sp seemingly went as high as 380 during the day.
shall be more than happy with 5.00 for UMN, though I guess that's a pretty arbitrary sort of price.
All we need then is for VML to be similarly snapped up and TMC to get back up off its arse!

Areva in talks to acquire UraMin - report
AFX


PARIS (Thomson Financial) - Nuclear power plant manufacturer Areva is in talks to acquire AIM-listed Canadian mineral development company UraMin and is also in similar discussions with other new companies in the mining sector that it did not name, the daily Les Echos said, citing Areva.

UraMin said yesterday it is in talks to sell the company to an unnamed buyer

well done all holders--I'm sorry I moved on I should have held!!

Are the chinese still after umn ? if so we could see a bidding war .

AFX


(updates to recall report of UraMin discussions with Chinese company; add details of UraMin's projects)

PARIS (Thomson Financial) - French nuclear energy group Areva said its talks to acquire uranium mining development company UraMin are non-exclusive.

Confirming reports of the talks with UraMin, an Areva spokesman said: 'We can imagine that UraMin is in discussions' with some other potential bidders as well.

UraMin said yesterday it is in talks to sell the company to an unnamed buyer.

Areva is also in discussions with some 'other junior companies', the spokesman said, without naming the companies.

Uramin has uranium mining development project in Namibia, Central African Republic and South Africa, along with exploration plans in a number of African countries and joint ventures in Canada.

Last month an official at state-owned China National Nuclear Corp said it has approached UraMin. The official told Agence France-Presse she did not know if talks would focus on buying uranium from UraMin or if the corporation viewed UraMin as a takeover target.

2007-06-12 16:49:00 Sale 500,000 380.75 1,903,750 380.00 379.75 Normal
2007-06-12 16:39:00 Buy 400,000 374.00 1,496,000 380.00 379.75 Bargain condition
2007-06-12 16:37:00 Buy 250,000 377.25 943,125 380.00 379.75 Volume weighted average price
2007-06-12 16:36:00 Buy 400,000 374.00 1,496,000 380.00 379.75 Bargain condition
2007-06-12 16:35:00 Buy 198,573 377.00 748,620 380.00 379.75 SETS order driven
2007-06-12 16:29:00 Buy 3,721 380.00 14,140 379.00 380.00 Normal
Now we can see the big boys getting in .

French and Chinese are after UMN. Maybe the Russian will be next to come in bidding for it.

If thats the case , we could be talking 7 a share .

Well , I think one will test the water with a low bid 4 before being rejected by umn . After that we could see bids between 4.50 AND 5 and maybe more .

2007-06-13 17:05:00 Buy 200,000 371.00 742,000 370.00 371.00 Bargain condition
2007-06-13 16:57:00 Buy 13,300 374.50 49,809 370.00 371.00 Bargain condition
2007-06-13 16:57:00 Buy 49,000 374.50 183,505 370.00 371.00 Bargain condition
2007-06-13 16:42:00 Buy 100,000 374.25 374,250 370.00 371.00 Bargain condition
2007-06-13 16:41:00 Buy 102 371.00 378 370.00 371.00 Normal
2007-06-13 16:39:00 Buy 100,000 375.00 375,000 370.00 371.00 Bargain condition
2007-06-13 16:36:00 Buy 50,558 371.00 187,570 370.00 371.00 SETS order driven
mm filling buy orders again .

UraMin Inc
14 June 2007


June 14, 2007


Winter Drill Program completed on the Rea Uranium Project, Alberta

UraMin Inc. (TSX and AIM: UMN) and its joint venture partner, Red Dragon
Resources Corporation (TSX-DRA.V), are pleased to report the completion of the
winter drilling program on the Rea Uranium Project in northeastern Alberta. The
diamond drill program (1,908m in 8 holes) tested six airborne electromagnetic
(EM) anomalies, out of several hundred anomalies that were identified on the
property. The anomalies drilled in this program extend over a distance of 35
kilometres and test several conductors along and parallel to the north-northwest
trending Maybelle River linear that is known to host economic concentrations of
uranium mineralization.

The six EM anomalies were previously profiled by ground induced polarization
surveys prior to drilling to identify areas of low resistivity and high
chargeability, which can be related to clay alteration that may be associated
with unconformity-type uranium mineralization. While none of the eight drill
holes intersected economic concentrations of uranium mineralization, a number of
holes intersected significant alteration and one of the drill holes (R130107)
intersected anomalous concentrations of uranium (34ppm over 4m including 55ppm
over 1m) in sedimentary rocks immediately above the unconformity with the
underlying basement pegmatite. Management of Red Dragon and UraMin are
encouraged by this initial drill program and are planning additional ground
geophysical surveys and diamond drilling in the second half of 2007.

The Rea Project consists of a large exploration package (446,330 acres) covering
the under explored western margin of the Athabasca basin in northeastern
Alberta. The project surrounds the high-grade Maybelle River deposit held by
AREVA. The Maybelle River deposit has a reported drill intersection of greater
than 20% U3O8 over 5 metres. The Athabasca Basin is host to some of the world's
largest and richest uranium mines and currently contributes about 32% of the
world's uranium supply; past production and resources total almost 1.5 billion
pounds of U3O8.

despite the gibberish, the results sound less than exciting

Be patient...this is just the beginning in Athabasca, cynic.

if UMN are being taken out, it matters not anyway ..... would be very jolly to see VML going the same way

Don't worry, cynic...I am sure VML will be next in line and it is announcing more news soon with all its resolutions approved by its shareholders in its AGM today.

good day on the ranch for me by good fortune ..... DOO, ICI, PMO, TMC and DOW all had/having a strong run

cynic , have you sold out of umn ?

13.06.07: -9, (371) an article in the Guardian reports: UraMin Inc rose 22p to 377p amid speculation that French nuclear firm Areva is the favourite to buy the company, with traders are talking of a take out price above 400p a share. Areva is 79% owned by the Commissariat lergie Atomique, Frances equivalent of the Atomic Energy Authority. UraMin is also reckoned to have been in talks with China National Nuclear Corporation about some form of co-operation.

Trading halted on Toronto Stock Exchange

News is out on cash offer but I think UMN will refuse the offer and this will boost the sp further upwards.


UraMin Inc
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.

By my calculation its 4.07 per share . If its anything like buying a house , the first offer is allways turned down .

It's 7.75 USD = 3.92088 GBP so who ever bought 2.6m has paid over the odds.

Unless they know the offer will be turned down .

Galahad Gold Plc
15 June 2007

Galahad Gold plc
(Galahad)

Cash offer for UraMin Inc


Galahad announces that AREVA and UraMin Inc (UraMin) today entered into an
agreement in respect of a friendly cash offer for 100% of the share capital of
UraMin. Galahad is the largest shareholder in UraMin with a holding of 7.3%
(6.4% fully diluted). UraMin shareholders are to be offered US$7.75 per share, a
premium of 21% over UraMin's 20-day weighted average trading price ending on
June 8, 2007. Concurrently with the closing of the proposed offer UraMin
expects to 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. AREVA's offer will be made through its wholly-owned
subsidiary CFMM Developpement. The offer is conditional upon tendering of a
minimum of 75% of the outstanding UraMin shares on a fully diluted basis,
including the 5.5% shares held by AREVA.

Ian Watson, the Chairman of Galahad, commented: "UraMin has made incredible
progress during the last two years. Galahad invested 3.7m in UraMin in June
2005 shortly after UraMin's inception. AREVA's offer values Galahad's holding at
81.5m, giving an internal rate of return of 172% per annum on its investment,
22 times the money Galahad invested only two years ago."

UraMin is an international mining company founded in February 2005 to acquire
and develop uranium properties throughout the world. Its shares are traded on
the AIM market of the London Stock Exchange and the Toronto Stock Exchange under
the symbol "UMN".

Galahad acquired 20,266,666 shares in UraMin in June 2005 for US$5m (3.7m).
Galahad is also a beneficial owner of an option to acquire 500,000 UraMin shares
exercisable at an average price of US$0.52 per share. In the event of the
AREVA's offer for UraMin becoming unconditional, Galahad would receive a cash
consideration of US$160.7m (81.5m) and would realise a pre-tax profit of
US$155.7 (77.8m). Tax will be payable on the profits.

Acceptance of the offer by Galahad will be subject to shareholder approval. Upon
the receipt of AREVA's offer, a circular and notice convening an EGM will be
dispatched to shareholders.

The Board of Galahad will consider the use of proceeds in due course. The
directors are currently reviewing the optimum way of returning cash to
shareholders and anticipate completing this review and announcing a significant
capital return before the end of 2007. The directors are also researching new
investment opportunities including diversification into soft commodities.

The macro-economic indicators for the market in soft commodities, including
grain and corn, are similar to those of gold and copper when Galahad first
invested in mining in 2003. Grain stocks are at an historic low, while the world
population is continuing to grow. The demand for better quality food is being
fuelled by strong economic growth in many countries, particularly China and
India. There is also additional pressure on supply as food resources are being
diverted towards ethanol production. Investing in farmland could be an
attractive way to take advantage of the expected increase in the price of soft
commodities. Farmland that can be developed efficiently is a scarce resource and
prices are expected to continue to rise over a period of several years. Galahad
is carrying out research and due diligence to evaluate the investment case for
soft commodities and the optimum way of participating. When and if suitable
investment opportunities are found, the new investment strategy will be
presented to the shareholders in a General Meeting and Galahad will take such
additional actions as required by the relevant AIM Rules.

$7.75 = 3.92 at latest cable rate ...... so what next? ..... guess we'll just have to wait and see

Do you still hold cynic ?

indeed i do, as well as DOO which has suddenly got pretty exciting over the last few days, and ICI whose t/o is now seemingly imminent, as well as TMC which has performed moderately well of late! ...... all helps the good guys and those of cynical disposition!

Lets see what today brings ?

These will sit around the 4.05 mark unless umn reject the offer or a bigger offer comes in .

A good buy at this price , will be back up today .

News should be due soon , any rival bids could come in as well .

Yes I agree, fliper. Good level to buy in

UraMin Inc
27 June 2007

NORTHWESTERN AND URAMIN PROVIDE UPDATE ON DRILL PROGRAM UNDERWAY IN NIGER


Toronto - June 27, 2007 - Following their successful agreement to form a Joint
Venture Company in Niger, Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB:NWTMF) and UraMin Inc. (TSX: UMN; AIM: UMN) commenced drilling on the highly prospective Irhazer and In Gall concessions. The phase one program is scheduled to include a total of 6,562 feet (2,000 meters) of mud rotary drilling to be completed prior to the start of the rainy season in Niger. The drill program is focusing on high-priority areas near radioactive structural domes that were
discovered during earlier ground exploration.

'This drill phase marks the beginning of a major, expanded exploration program
on our sizeable Niger property portfolio and we are pleased to have rapidly
commenced drilling at Irhazer and In Gall,' said Marek J. Kreczmer, President
and CEO of Northwestern and Managing Director and CEO of the Joint Venture
Company. 'Irhazer and In Gall have so far returned high-grade uranium values of
up to 1.0% U3O8 from widely spaced rock chip samples. We look forward to
revealing the full potential of our Niger concessions.'

Ian Stalker, Executive Deputy Chairman of the Joint Venture Company, said, 'The rapid progress made so far highlights our commitment to the development of our activities in Niger and we look forward to updating the market as soon as is practicable as to the results of this exploration drilling. Work on the UraMin properties in Niger, which forms part of the new JV Company, has also commenced on the ground.'

Sites being tested in this initial phase of drilling include a total of three targets at Irhazer and In Gall. The aim of the program is to test in the vicinity of radioactive structural domes, buried sandstone units known for hosting economic mineralization at the nearby Azelik and Imouraren ore bodies.

Drilling is being conducted by ESAFOR of Arlit, Niger. ESAFOR is one of the major drilling companies involved in uranium exploration and exploitation in Niger. At least 14 holes are planned to test areas with potential uranium mineralization at shallow depths during this first phase of drilling.


Joint Venture Property Portfolio

The Joint Venture Company boasts eight uranium properties -- known as Irhazer, In Gall, Kamas 1 to 4, and Dabala 3 and 4 -- covering a total of 1,673,644 acres (6,773 square kilometers).

Irhazer and In Gall have returned uranium values ranging from 0.22% U3O8 to 1.0% U3O8 from five surface rock samples collected from outcrops, as reported in a Northwestern Mineral Ventures press release on May 29, 2007. These samples were submitted for re-analysis after they exceeded the detection limits of uranium tests routinely used to analyze samples from Niger. Producing mines and deposits in Niger typically grade from 0.1% to 0.42% U3O8, with the highest grades being mined at greater depths.

Kamas 1 to 4 and Dabala 3 and 4 are adjacent and situated along the proven Arlit
fault, north of a successful uranium-producing mine.

The formation of the new corporation and completion of the transactions are subject to review and approval in the Republic of Niger, as well as the receipt of all applicable regulatory approvals (including the approval of the TSX Venture Exchange) and a favorable fairness opinion.

Is the take over off ?

don't think the RNS gives that sort of implication at all, though i banked my own profits at 385 early last week

I went out at 4.08 , the bid adds up to around 3.88 a share and the $ is moving the wrong way .