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.

very funny and Cynic...I'll get my own back next time I see you at a Xmas bash

was wondering whether i could be bothered this Christmas, but with such a promise, sounds too good to miss!

Driving forward this afternoon.

VML very strong today...is there more imminent news coming?

don't know, but potentially glad at the moment that i bought back in this morning

cynic
Back in then you sure it was this morning or afternoon, either way if we get a good drilling update this will rocket IMO.

So it is wise to buy more now, cynic?

not sure, though i did with crossed fingers + greed prevailing!

Look at PLAA, cynic. I think it is a very good bet.

I took profits @ 32 after getting back in @ 27.77, looks like we my get a double bottom on the chart.

why a double bottom if sp and chart is now rising strongly again? ...... and double bottom where? .... 22?

looks more like a break of last week's high imminient and then on upwards. What are peoples expectations here on a 12mth timeframe. Seems to me we're awaiting such crucial news, difficult to value with any accuracy.

you got it in one! ..... i don't think there is any way to make a sensible prognostication

We are waiting for drilling updates also a announcement on the below what ever that may be.


The Board recognises the rising interest, particularly in the US and Canada, of institutions and other parties in companies operating in the uranium sector. This has led to substantial valuations and major fundraising opportunities for some asset-rich uranium companies in those markets.

There is no certainty as to the outcome of any such review but in the current
environment the Board considers that it has a duty in the best interests of
shareholders to explore what options may be available to extract optimum value
from its now sizeable uranium portfolio. An update on any progress will be
announced in due course.

Thanks, what I summised.

if one wants to rationalise, which is not to be confused with logic, one could argue that VML are tentatively looking for a someone to buy them

I would agree but not before they've substantially revalued their assets higher.

a prospective buyer will have the knowledge to do the same, though us shareholders would always find that info interesting

so pleased I followed everyone into this--thanks again driver.

mp
;-)