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.

Dawsinho - I have same problem - ie no News indicator - I have raised ot woth Ian at MoneyAM - under sire problems

Baza

How's that Starfrog? Now works for me.

Madison - Yes, that works fine now. Thanks ;-)

Baza,

Re the news icon on stockwatch - I will get the tech guys to take a look.

Ian

Some on other boards are wondering why this one hasnt risen 112% never mind 12% can only think that its the market today that is rather quite and docile and the Beta on this one is low.

I remember Reefton giving back all it gained.

cheers GF.

Nice one bhunt.

For all the reasons already discussed on this thread Vane is in a different and far superior league to Reefton.

What it needs is a few big buys to get things going. Let's hope they arrive in due course. Must admit I'm surprised by the relative quiet, but maybe it's for the best longterm...steady and sure...

Cheers, Madison

Anyone else get the feeling that this share price is being kept down for some reason. All signs show it should be going somewhere yet nothing is really happening. Am not complainingits up 12% this the morning but just seems like its hit a brick wall.

A bloke on ample says this isnt the really big news. He says theres more to come, we shall have to wait and see.

cheers GF.

Looking at the volume of buy's that have gone through, it should be primed for another click up at any time.

The press should pick up on this one over the next few days and the price ought to respond.

Well tomorrow is when George Bush announces that the US will push for more nuclear power stations in the US so it will be interesting combined with todays news what affect this will have.

http://news.ft.com/cms/s/0b727b02-b6d7-11d9-aebd-00000e2511c8.html

And in Today's Telegraph (business section):

Blair planning revival of nuclear power
Industry is preparing for Tony Blair to launch a new nuclear power programme if Labour wins a third term.

He gets my vote then ;-)

RENO--(Mineweb.com) Fearful of higher prices and lack of availability, utility companies have been largely responsible to the high level of spot demand for uranium.

During a teleconference to discuss first-quarter 2005 results Monday, Saskatoon-based Cameco's Senior Vice President, Marketing & Business Development George Assie told analysts that Asian utility companies have generated 20 million pounds of new long-term uranium demand during the past two weeks.

In the meantime, "demand for long-term contracts in the conversion markets is very strong," according to Assie. Asian utility markets generated 6 million kilograms in new demand in the past two weeks, he added.

Assie explained that "spot market activity in the first quarter of this year was very strong, amounting to about 10 million pounds," almost double the amount traded during the first quarter of 2004 and five times the volume of trade during the fourth quarter of 2004. As of last Friday, uranium trading volume was reported at 11 million pounds with an additional seven to right million pounds now being requested, he said. The price as of last Friday was reported at US$26 per pound by Tradetech.

"The high level of spot demand can be attributed to inventory building and discretionary buying," Assie said, adding that discretionary purchasing comprised 70% of the trading volume. "This high-level discretionary purchasing is due to the expectation that prices will increase further in the near future," he explained. "Buyers are generally trying to keep the demand as quiet as possible so as to minimize the upward pressure on price."

Among the new spot market participants in uranium are investor groups looking towards continued strengthening in the spot price, Assie asserted. Cameco has forecast a long-term price of US$28.50 per pound for uranium while analysts on Monday's conference call speculated it could rise to US$30/lb.

"We are in a very volatile market here," Assie warned. "If utilities get concerned about supply, you willl see more of them come to market to take on additional inventory." The scenario, he suggested, will get "very interesting over the next few months." Thus far, however, Assie said utilities have only been engaged in a limited amount of building of uranium inventories, "nothing of any great significance."

Nevertheless, Assie suggested that he does not believe the current pace of trade will continue, forecasting 25 million to 30 million pounds of uranium in total spot volume this year. The company announced that it will continue to enter into new multi-year contracts and use traditional pricing mechanisms.

Cameco reported good results in its schedule to mine new reserves of uranium. Construction began at the Cigar Lake uranium mine in Saskatchewan during the first quarter of this year. Cameco managers reported that test block mining at the Inkai project in Kazakhstan "went very well" with the new mine expected to come on line in 2007 and eventually produce 5.2 million pounds of uranium annually. The two new mines are expected to add 40% to the company's current uranium production capacity by the end of the decade.

The company forecast a 10% increase in uranium revenues this year due to an improvement in the Canadian dollar selling price and a 4% increase in deliveries. Uranium earnings are expected to be significantly greater in the second quarter due to higher volumes and realized prices, according to Cameco.

Revenue from the conversion business is expected to be marginally higher this year than in 2004. For the second-quarter 2005, Cameco predicted that conversion revenue will be about 15% higher than the first quarter of this year due to increased deliveries. The outlook for this year is 13.4 million kgU of uranium, compared to 9.5 million kgU in 2004 which included a production strike, according to Cameco officials.

During the first quarter of this year, Cameco signed a deal with British Nuclear Fuels to increase Cameco's UF6 conversion capacity by 40%. The 10-year agreement will allow BNFL to annually covert 5 million kgU as UO3 to UF6 for Cameco.

However, Cameco's foray into nuclear generation has not fared so well during the first quarter of 2005 as short-term outages plagued Bruce Power, resulting in higher costs. Bruce Power results for 2005 are anticipated to decline also because of higher depreciation and amortization on recently restarted units, and higher fuel costs.

Cameco owns 53% of Centerra Gold. During the first quarter of this year, production decreased 18% at the Kumtor gold mine in Kyrgyzstan due to a lower head grade while total cash cost per ounce increased to $235/oz, compared to $181 in 2004. Total production for this year is forecast at 790,000 ounces, a 13% decline from 2004 because of lower grades at Kumtor. "Overall, gold results are expected to decline in 2005 from 2004 due to higher costs as a result of lower grades at Kumtor and the higher costs of consumable items," according to Cameco.

Meanwhile, Cameco reported that the Kumtor Gold company received a request on April 20th from the State Auditing Chamber of the Kyrgyz Republic to provide information regarding the 2004 restructuring. "We do not believe the activities of the State Auditing Chamber will have a material effect on our assets," the company stated in a news release.

On April 18th, acting Kyrgyz President and Prime Minister K. Bakiev issued a decree to establish a special commission to inquire into former President Akayev's assets. Kumtor Gold is included on that list of assets. "We do not believe that the activities of the special commission or the routine tax inspection will have a mineral effect on our assets," Cameco reiterated.

FINANCIALS


During the first quarter of this year, net earnings declined 33% to Cdn$26 million or Cdn 15-cents per share, compared to Cdn$39 million or 23-cents per share for the first quarter of 2004. Reduced Bruce Power earnings and higher administration and exploration costs were attributed to the decline.

Uranium revenue rose by 7% to Cdn$78 million during the first quarter as higher prices were offset by a 7% decline in deliveries.

Conversion revenue remained at Cdn$26 million during the first quarter.

Cameco predicted that consolidated revenue is expected to grow 15% this year due to increases in uranium and gold. About 45% of uranium sales are projected to occur during the fourth quarter.

As of March 31, 2005, total long-term debt was Cdn$545 million, a Cdn$26 million increase compared to December 31, 2004. As of March 31, 2005, Cameco had a foreign currency hedge portfolio of US$856 million.

http://uk.biz.yahoo.com/050503/336/fhz3e.html

Seymour Pierce says buy Vane Minerals (LSE: VML.L - news) and Hambledon Mining (LSE: HMB.L - news) and has outperform on House of Fraser (LSE: HOF.L - news) .

JUST GOT BACK FROM WORK AND SEE VML UP 3 PENCE WITH GOOD NEWS AND GOOD POSTINGS,THANKS EVERY ONE FOR THEIR INPUT,AND LETS HOPE YOURS AND MINE WAIT IS OVER SOONER THAN LATER WITH MORE POSITIVE NEWS SOON. THANKS.I WAS GETTING IMPATIENT BUT TOOK GOLDFINGERS ADVICE,AND NOW WILL HOLD FOR LONGER TERM.

JUST GOT BACK FROM WORK AND SEE VML UP 3 PENCE WITH GOOD NEWS AND GOOD POSTINGS,THANKS EVERY ONE FOR THEIR INPUT,AND LETS HOPE YOURS AND MINE WAIT IS OVER SOONER THAN LATER WITH MORE POSITIVE NEWS SOON. THANKS.I WAS GETTING IMPATIENT BUT TOOK GOLDFINGERS ADVICE,AND NOW WILL HOLD FOR LONGER TERM.

Not a bad day up 15%, anyone got any ideas about tomoz?

Thank You.