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.

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 .