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.

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