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.

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

I think theres plenty still on the beaches of Spain and Greece. Plus theres the election and the interest rate decision coming up. Very quite indeed.

cheers GF.

People shorting at the monet so buy & sells have been equal today... No big buyers about!!!

Sid, Im sure the sells are down to profit taking. A lot got into this one at a lot lower price. I beleive the news flow will be very good this month for this one.

cheers GF.

Can't imagine people shorting this share! Should think we'll get a mention in ic or shares this week.

Sorry GF, I meant profit taking rather than Shorting ;) Newbie mistake!!!
Was tempted to take profits aswell but will hang on as think alot more to come...

So what is shorting?
Thought shorting meant in on the stock for a short period (e.g. day traders)
Think I've got a lot of reading up to do :)

Sid - Shorting is the mirror of investing (or going long) in a stock. Instead of buying, you sell shares you dont own in a stock you think will go down in price. To sell short, you need a margin account to borrow shares from an inventory of stocks that are available for borrowing. Eventually, you have to buy back the shares to cover what you originally borrowed.

Oh, and day traders aren't necessarily people selling/buying over a short period. They are just people who trade during the day.

Hope that helps. :>)

Cheers... Am slowly getting there!!!

GF - I can't remember, have Killik issued a note on this one, and if so are they likely to update it?

Cheers, Madison

Hi Madison,

no I got it wrong yesterday I was thinking of Crosby, (which is doing well today)but it was Rathbones that did a note and buy on it plus the original BUY from...........................

From Seymour Pierce who ARE the house brokers.

'We discuss Vane's announcement that it has signed an agreement with a contractor to develop the Diablito project in Mexico. We consider this transforms the company as it should start to generate cash to cover exploration costs and reduce the likelihood of Vane returning to the market to raise additional cash - unless it finds something significant. Buy'.

cheers GF.

A slight tick down. Getting rid of the get rich quick merchants.

cheers GF.

Only a drop down in the offer price, sp down to 4%. This might encourage some buyers back this after noon....hopefully. I know I am looking to top up if I can afford it.

I think there are one or two selling off just a slice of their holding and hoping to buy it back at a lower price later. With only eight days till the AGM and a lot of news to emerge this might not be very profitable, especially on small holdings.

Then there's the herd mentality which is stronger than rationality. You would think they'd discovered cotton wool not uranium. LOL

In the end quality will rise. A bit of publicity would help, and that may be on its way.

Cheers, Madison

Madison, looks to me like the "get rich quick crowd" are selling for a quick buck. Think IC will do a follow up to their buy rec this week, which should hopefully get us onto a few more radars!

Do you know when and where the AGM will be?

It's on 12 May at 11am, but I don't know where. Their phone no is 020 7667 6322.

Cheers, Madison