UPDATE UPDATE UPDATE..

COMPANY WEB SITE.........

http://www.vaneminerals.com/

THE PRICE OF URANIUM IS GOING BALISTIC...

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.

Analysts are debating over wether the SP of Uranium increase will be three fold within 2007?.

Looks like to me, the best play on the UK market for Uranium and it hasnt gotten away yet like the other two ZBA Zareba and URA Uranium which have multi bagged. Its also in a position to fund its development with a new gold mine producing. Ive added twice this morning and think this one could be very big. Heres the announcement...........

Vane Minerals PLC
07 March 2005


VANE Minerals plc (AIM: VML)

VANE Announces Diversification Into Uranium Exploration And Development

Vane Minerals ('VANE' or 'the Company') announces that it is diversifying its
current project portfolio by entering into the uranium exploration and
development business.

To date 7 uranium targets have been successfully claimed by the Company and 28
further properties have been identified and are under development. VANE expects
to finalise its property position by the end of the first quarter 2005. The
Company is targeting uranium projects that are either at, or near, resource
stage or targets that exhibit similar surface features to mines with past
production, but that have not yet been evaluated for the presence of uranium.

The 35 properties identified are located within a uranium district with
significant past production as well as significant resources. Due to the
current uranium market conditions, we prefer to not identify the location until
we complete our property position. Previous drilling data available for some of
the 7 properties successfully claimed indicate grade intersects from 0.34 up to
1.78% U3O8.

VANE has incorporated a 100% owned subsidiary to hold its uranium properties and
has also successfully recruited a uranium geologist, Kristopher K. Hefton B.Sc.,
who has considerable experience in this field and is a great addition to the
VANE team. Mr. Hefton has worked with VANE's exploration team in the past during
his time at Freeport McMoran, and he has also worked for Barrick Gold
Corporation, Homestake Mining Company and Energy Fuels Nuclear Inc.

Michael Spriggs, Chairman of VANE, commented, 'We are delighted to announce the
addition of these uranium assets to the VANE portfolio and will update the
market with more substantial details once further properties have been claimed.
The uranium market has been strong for some time now, reflecting a long-term
forecast supply shortage and the growing recognition that nuclear energy offers
a cleaner and more energy efficient fuel source. Through our extensive network,
we have identified some quality projects and look forward to releasing further
details when appropriate.'

Enquiries:

VANE Minerals plc Seymour Pierce Limited Parkgreen Communications
Matthew Idiens Sarah Wharry Justine Howarth / Cathy Malins
020 7667 6322 020 7107 8000 020 7493 3713

cheers GF.

Hi GF
Just climbed on board at 17.38 a pop. Any thoughts on where the new properties will be located, I wonder if they will be previously worked areas or virgin territory. Will hold these for the medium term, good luck to all who venture here.

I think its a combination of both loadsadosh. Worth having a look at the website.

cheers GF.

Lets get a chart up for these.



cheers GF.

Not moved much today but lets face it what as.

cheers GF.

Some big buys at the end of the day, looks interesting for the future.

cheers GF.

big write up in yesterdays FT, basically stating the same as above but also the future increase in price of Uranium due its short supply

Some related industry news here re- to Uranium from CityWire,

Uranium the key to BHP Billiton bid

By: Douglas Bence, Companies Correspondent

(Update) Finding the link between nuclear power stations and the Olympic Dam in South Australia sounds like a quiz question.

The answer is uranium, the price of which has risen by more than 50% to $21.75 a pound since the beginning of 2004.

It is one of reasons why BHP Billiton, the world's biggest mining corporation, topped by 12% a hostile offer from its Swiss-based rival Xstrata to make a 3.8 billion agreed bid for Australia's WMC Resources, which has 38% of the world's known deposits of uranium at Olympic Dam.

Nuclear power stations are driven by uranium and China expects to build 27 of them by the year 2020, India another 31 and Russia up to 25. France wants more, too.

To say that they became unfashionable on 26 April 1986 when the so-called accident at Chernobyl caused the world's biggest nuclear explosion 60 miles north of Kiev, is an understatement.

However, with oil prices constantly hitting new highs, and replacement reserves increasingly harder to find, and more expense still to extract, nuclear power was bound to make a come back.

Science has moved on dramatically and Chernobyl was old and worked on redundant technology.

When Britain, France, the US and the then Soviet Union took to nuclear power in the 1940s the argument was that it was cheap.

Nobody said much about the waste and by-products being used to make bombs for the cold war. This debate will have to be re-run.

When Xstrata made its original bid for world number five nickel producer WMC last October, it is hard to believe that chief executive Mick Davis did not know that the world's stockpile of uranium had dropped by 50% between 1985 and 2003 as existing production could not meet demand.

cheers GF.

The price of Uranium has risen by more than 50% to $21.75 a pound since the beginning of 2004.

cheers GF.

Started off very positive with all buys so far.

cheers gf.

Hi GF, theres an X trade gone through at over 1 million @ 16.75, any thoughts on that

Isnt that a cross over between two parties at the same price?. Shouldnt think it makes any difference, what was you thinking HM?.

cheers GF.

gf - $21.75 a pound? Surely an ounce (or smaller).

SF see post 16 on here. It says a pound??????????, youve got me thinking now.

cheers GF.

gf - I stand corrected. Out of curiosity I had a look around the net. Sure enough, at the Ux Consulting Company they show the spot price for uranium (U3O8) at $21.75 per pound. But I think that this must be the price of the ore, and then the question arises as to whether it is graded (i.e. is $21.75 the price for a pound of ore containing x% of Ur. And if it contains y% is the price different?).

By comparison, from Goodfellow (a materials supplier) the price for a 25 mm x 25 mm x 1 mm square of 99.9% pure Ur (weighing 11.9g) is just 783. Go figure!

LOL

Hi SF, the only goodfellow I know is a resident of adfvn and a top shorter. A s for the price of Uranium I dont think it really matters as long as it is up which shows a probable inbalance between supply and demand.

cheers GF.

Plenty of buys today - maybe a tick upon the way!!
The mms will not be able to hold this back much longer..
Ciao
Lucas

Wont be long before we see a move up in the price.

cheers GF.

More buys but blimey it hasnt moved, WHAT does it take?????????????.

cheers GF.

A few days old, but I think this was the article Hampi was referring to.

rgrds
gk


Vane Minerals takes a stake in booming uranium market
By Rebecca Bream
Published: March 7 2005 02:00 | Last updated: March 7 2005 02:00

Vane Minerals, the Aim-listed gold explorer, will today unveil the acquisition of several uranium projects, making it the first junior miner in London to enter the booming market.


Vane's move reflects a renewed interest in uranium among mining companies following a doubling of the price of uranium last year.

Vane has formed a US-based uranium subsidiary to develop up to 35 projects in North America, all of which have been drilled in the past. The group said the projects were "located within a uranium district with significant past production as well as significant resources", but would not give specific details until after all the deals were finalised. Vane said the properties had not been mined by their previous owners because the price of uranium had been low for many years.

The spot price of uranium, which determines how much miners charge nuclear power companies for the radioactive metal, had been languishing at about $10 per pound since the late 1980s. Last year, however, uranium prices shot up to $20 per pound, a 20-year high. This was because uranium stockpiles were shrinking and production from mines was low, but demand from the nuclear power sector was growing. China and India both have plans to build many new nuclear power stations to help fuel their rapid industrialisation.

In the developed world, support for nuclear power appears to be growing as politicians look for ways to cut fossil fuel consumption and tackle climate change. WMC, the Australian uranium, copper and nickel miner, has forecast that worries of a uranium shortage will push prices up to $30 a pound.

Canada and Australia - large producers of uranium - have traditionally also been the centres of investment in uranium. But the London market is starting to develop an interest in the commodity as investors rush to jump on the uranium bandwagon.