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.

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