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.

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.

Great day for vml, volume the highest we've had for three weeks, yet get the feeling a lot of people have not caught on to this one yet. Lets hope for some good press coverage over the coming weeks.

Diablito - should now be in production and the ore should be coming out of the ground.

Guadalcazar - update should now also be on the cards, the drilling and analysis of the first programme should now be near completion.

Not to mention Mina Charay, Paraguay and the fact that Vane are continuing to identify and investigate other opportunities for acquisitions within the uranium sector.

I reckon by the end of this month or mid next month... VML will be at around the 26-28p mark!!!
BTW I'm not trying to Ramp this stock, just have a good feeling about it.
News of Diablito or Guadalcazar looks in the pipeline (common Vane, do your tricks!)

There is estimated to be 13 million pounds of Uranium in the northern Arizona properties. At $24 per pound that is $312.

Does anyone have any idea of annual production levels and the cost of production per pound?

We are getting $3m per year from the gold in Diablito. It would be nice if we had an annual profit figure to add to the $3m and compare to the 18m market cap of Vane. Guadalcazar will hopefully give the figures and even bigger boost once it's feasibility is determined.

Tallsiii

Very much my thoughts tallsiii, though I think for cash flow Mina Charay will be significant, perhaps more so than Guadalcazar: "The Mina Charay project has both the potential for rapid generation of cash flow and the discovery of a large bulk mineable deposit." I'm sure it's the cash flow which will do it for some investors, and explains the low volume at present.

I would have thought production costs might well depend partly on the depth of the uranium ore. (I thought it was deep in the N Arizona Breccia pipes?) There is obviously a lot more work to do here and I would have thought we are guaranteed a newsflow over the coming months. I think the information on production costs is probably around, it's just a question of collating it.

On a small point, no one has remarked about the increase to 16 properties - it was seven, then ten, now 16: "VANE Minerals plc ('VANE' or 'the Company') has obtained exploration rights to 16 properties in the breccia pipe uranium district of Northern Arizona, in line with its planned uranium programme, as previously announced on 7 March and 11 April 2005." I just like the way they deliver.

Cheers, Madison

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) .

Hoping for more Wednesday.

cheers GF.

From Minesite board........................

Press Centre : Press Release
3-May-2005

Uranium Properties obtained in Northern Arizona

VANE Minerals plc ("VANE" or "the Company") has obtained exploration rights to
16 properties in the breccia pipe uranium district of Northern Arizona, in line
with its planned uranium programme, as previously announced on 7 March and 11
April 2005.

One of the properties contains a breccia pipe with a drill intercept containing
1.78% equivalent U3O8 ("eU3O8"). Several of the remaining 15 properties have
been explored by drilling and are believed to hold breccia pipes, while others
that have not been drilled exhibit surface features similar to breccia pipes
that have been mined or are known to contain uranium resources. VANE is in the
process of compiling all available data on the properties. The 16 properties are
located on Federal lands that have been claimed, or on State lands on which
exploration permits have been granted.

The breccia pipe uranium district of Northern Arizona is a relatively new
district that produced approximately 23 million pounds of eU3O8 prior to the
decline of uranium prices in the early 1990's. Uranium occurs in compact,
high-grade deposits, formed in solution-collapse breccia pipes originating in
the Mississippian Redwall Limestone. Breccia pipes occupy relatively small
surface areas and in most cases can be covered by one to four 20-acre claims.
For this reason land acquisition costs are minimal, as is surface disturbance
related to exploration and mining activity.

Breccia pipes have been known to contain more than 5 million pounds of eU3O8 at
an average grade in excess of 1% eU3O8. Most of the uranium ore produced from
breccia pipes in the Arizona district was processed at the White Mesa Mill
located in Blanding, Utah. Processing at White Mesa restarted on March 21, 2005.
There is currently an estimated resource of 13 million pounds of eU3O8 in
several breccia pipes in Northern Arizona awaiting production at favourable
prices.

In addition to these 16 properties, VANE continues to identify and investigate
other opportunities for acquisitions within the uranium sector.

Michael Spriggs, Chairman of VANE commented, "We are very pleased to report the
acquisition of the exploration rights on these uranium assets, which we have
been investigating over the last few months. These 16 properties show great
potential and we are delighted to add them to the VANE portfolio. We will
announce further data on these properties as soon as they become available."

cheers GF.

Very quiet today no big BUYS, whats going on?

Hi Syd,

It is quiet today topped up with an extra 2000 first thing, cannot understand why we haven't had more interest. Regards Paul