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.

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 .

News should be due soon , any rival bids could come in as well .

Yes I agree, fliper. Good level to buy in

UraMin Inc
27 June 2007

NORTHWESTERN AND URAMIN PROVIDE UPDATE ON DRILL PROGRAM UNDERWAY IN NIGER


Toronto - June 27, 2007 - Following their successful agreement to form a Joint
Venture Company in Niger, Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB:NWTMF) and UraMin Inc. (TSX: UMN; AIM: UMN) commenced drilling on the highly prospective Irhazer and In Gall concessions. The phase one program is scheduled to include a total of 6,562 feet (2,000 meters) of mud rotary drilling to be completed prior to the start of the rainy season in Niger. The drill program is focusing on high-priority areas near radioactive structural domes that were
discovered during earlier ground exploration.

'This drill phase marks the beginning of a major, expanded exploration program
on our sizeable Niger property portfolio and we are pleased to have rapidly
commenced drilling at Irhazer and In Gall,' said Marek J. Kreczmer, President
and CEO of Northwestern and Managing Director and CEO of the Joint Venture
Company. 'Irhazer and In Gall have so far returned high-grade uranium values of
up to 1.0% U3O8 from widely spaced rock chip samples. We look forward to
revealing the full potential of our Niger concessions.'

Ian Stalker, Executive Deputy Chairman of the Joint Venture Company, said, 'The rapid progress made so far highlights our commitment to the development of our activities in Niger and we look forward to updating the market as soon as is practicable as to the results of this exploration drilling. Work on the UraMin properties in Niger, which forms part of the new JV Company, has also commenced on the ground.'

Sites being tested in this initial phase of drilling include a total of three targets at Irhazer and In Gall. The aim of the program is to test in the vicinity of radioactive structural domes, buried sandstone units known for hosting economic mineralization at the nearby Azelik and Imouraren ore bodies.

Drilling is being conducted by ESAFOR of Arlit, Niger. ESAFOR is one of the major drilling companies involved in uranium exploration and exploitation in Niger. At least 14 holes are planned to test areas with potential uranium mineralization at shallow depths during this first phase of drilling.


Joint Venture Property Portfolio

The Joint Venture Company boasts eight uranium properties -- known as Irhazer, In Gall, Kamas 1 to 4, and Dabala 3 and 4 -- covering a total of 1,673,644 acres (6,773 square kilometers).

Irhazer and In Gall have returned uranium values ranging from 0.22% U3O8 to 1.0% U3O8 from five surface rock samples collected from outcrops, as reported in a Northwestern Mineral Ventures press release on May 29, 2007. These samples were submitted for re-analysis after they exceeded the detection limits of uranium tests routinely used to analyze samples from Niger. Producing mines and deposits in Niger typically grade from 0.1% to 0.42% U3O8, with the highest grades being mined at greater depths.

Kamas 1 to 4 and Dabala 3 and 4 are adjacent and situated along the proven Arlit
fault, north of a successful uranium-producing mine.

The formation of the new corporation and completion of the transactions are subject to review and approval in the Republic of Niger, as well as the receipt of all applicable regulatory approvals (including the approval of the TSX Venture Exchange) and a favorable fairness opinion.

Is the take over off ?

don't think the RNS gives that sort of implication at all, though i banked my own profits at 385 early last week

I went out at 4.08 , the bid adds up to around 3.88 a share and the $ is moving the wrong way .