Uramin die Uranperle
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19.02.07 15:29
#1
Inform2006
Uramin die Uranperle
mit echten HAMMERNEWS -in Kanada vom Handel ausgestzt!KAUFEN!!!!
Interim Feasibility Study
UraMin Inc
19 February 2007
19 February 2007
UraMin Inc.
("UraMin" or the "Company")
SRK's Interim Report on the Trekkopje Feasibility Study
UraMin is pleased to announce the results of SRK's Interim Progress Update
Report on the feasibility study for the Trekkopje Uranium Project in Namibia:
• Proposed production profile rising to over 8 million lbs per annum
U308 using heap leach technology
• Estimated operating costs are US$18.07 per lb U308 after V205 credit
(US$20.08 per lb without V205 credit) and estimated capital expenditure of
US$461 million
• Estimated pre-tax Internal Rate of Return of 67 per cent and a Net
Asset Value of US$1.2 billion (using an 8 per cent discount rate)
• Resources in the Measured and Indicated category increase over 200 per
cent to 46.5 million lbs at an average grade of 146ppm U308 (using a cut-off
of 100ppm)
Ian Stalker, Chief Executive, said: "SRK's project scope contemplates an open
pit mine utilising a sodium carbonate/bicarbonate heap leach process at a large
scale mining rate of 100,000 tpd. As a result production would rise to more
than 8 million lbs per annum of U308, much higher than previously envisaged, and
Trekkopje would become one of the largest uranium producing mines in the world.
SRK's interim results have exceeded expectations and we look forward to
completing the Feasibility Study and beginning the development stage later this
year."
Heap leach is the preferred processing technology following successful column
leach test work indicating recoveries of approximately 75 per cent and as a
result SRK has evaluated a production profile for Trekkopje rising to 8 million
lbs U308 per annum. This compares favourably with the 3.3 million lbs U308 per
annum of production previously considered using tank leach processing. Most
importantly water consumption using heap leaching is substantially lower than
would be the case with tank leaching.
SRK's model envisages a 2 year pre-production period, followed by a production
period of 8 years producing 61 million lbs U308 and 20 million lbs V205. A trial
mine is planned for the fourth quarter of 2007 and Trekkopje should commence
commercial production in the fourth quarter of 2008 at initial production rates
of 4 million lbs per annum scaling up to in excess of 8 million lbs within 2
years thereafter. Potential exists to achieve incremental production for the
project from the following areas:
• An additional 75 million tonnes of sulphate rich ore grading approximately
148 ppm is excluded from the proposed mine plan but is the subject of
further testing and could be amenable to acid leaching.
• Test work is being undertaken to determine whether lower grade material
using a cut off grade of 60 ppm could be treated on a "dump leach" basis.
• Excellent exploration potential exists on the additional exploration license
area granted to UraMin in November 2006. Significant radiometric
anomalies on the property are interpreted to delineate extensive sedimentary
channels, similar to those already drilled on the Trekkopje project.
This potential upside could extend the life of mine and sustainability of
production rates of 8 million lbs per annum of U308 beyond the initial mine plan
of 8 years with resultant enhanced project economics.
The selection of a carbonate/bi-carbonate heap leach and ion exchange at a mine
production rate of 100,000 tpd would require a water supply from a desalination
plant of 12 million m3 per year. It is anticipated that the cost of construction
of a desalination plant may be partially offset by contributions from other
parties reducing the estimated capital expenditure on the basis of a shared
plant.
Updated Resource Statement
UraMin is also pleased to announce SRK's NI 43-101 compliant updated interim
resource statement on the Trekkopje Uranium Project in Namibia where both
deposits have seen a substantial conversion of Inferred to Indicated Resources.
Current in-fill drilling is expected to convert most of the total remaining
Inferred resource to Measured and Indicated.
• Project Measured and Indicated resources are estimated at 144.6
million tonnes grading 146 ppm eU3O8 (at a 100 ppm cut off grade), containing
an estimated 46.5 million pounds of U3O8.
• Project Inferred resources are estimated at 195.3 million tonnes grading 138
ppm eU3O8, containing an estimated 59.3 million pounds U3O8.
• The Measured and Indicated resource increased 236% from the September 2006
initial resource estimate, as a result of the conversion of Inferred
resources, due to increased drill density.
• A program of in-fill drilling central to the 200 by 200m grid (5-spot
drilling) is being completed and is expected to convert much of the existing
Inferred resource to Measured and/or Indicated resource. An updated resource
estimate is due in April 2007.
Trekkopje Project Combined Resources at 100 ppm U3O8 Cut-off grade
Resource Classification Resource Grade Contained Contained
(tonnes) eU3O8 (ppm) Tonnes eU3O8 Pounds eU3O8
Measured:
Klein Trekkopje 7,096,000 156 1,105 2,435,000
Trekkopje 0 0 0 0
_____ _____ _____ _____
Sub-Total Measured 7,096,000 156 1,105 2,435,000
_____ _____ _____ _____
Indicated:
Klein Trekkopje 109,631,000 149 16,320 35,978,000
Trekkopje 27,835,000 131 3,659 8,067,000
_____ _____ _____ _____
Sub-Total Indicated 137,466,000 145 19,979 44,045,000
_____ _____ _____ _____
Measured & Indicated:
Klein Trekkopje 116,727,000 149 17,424 38,413,000
Trekkopje 27,835,000 131 3,659 8,067,000
_____ _____ _____ _____
Total M&I 144,562,000 146 21,084 46,480,000
_____ _____ _____ _____
Inferred:
Klein Trekkopje 177,090,000 139 24,610 54,255,000
Trekkopje 18,216,000 125 2,284 5,035,000
_____ _____ _____ _____
Sub-Total Inferred 195,306,000 138 26,894 59,290,000
_____ _____ _____ _____
Klein Trekkopje Deposit Resources at 100 ppm U3O8 Cut-off grade
Resource Classification - 100 ppm cutoff Resource Grade Contained Contained
(tonnes) eU3O8 (ppm) Tonnes eU3O8 Pounds eU3O8
Measured:
Conglomerate 2,835,000 143 404 891,000
SO4 Rock* 4,261,000 164 700 1,544,000
Bedrock 0 0 0 0
_____ _____ _____ _____
Sub-Total Measured 7,096,000 156 1,105 2,435,000
_____ _____ _____ _____
Indicated:
Conglomerate 88,430,000 144 12,744 28,095,000
SO4 Rock* 21,076,000 169 3,561 7,851,000
Bedrock 125,000 115 14 32,000
_____ _____ _____ _____
Sub-Total Indicated 109,631,000 149 16,320 35,978,000
_____ _____ _____ _____
Measured & Indicated:
Conglomerate 91,265,000 144 13,148 28,986,000
SO4 Rock* 25,337,000 168 4,262 9,395,000
Bedrock 125,000 115 14 32,000
_____ _____ _____ _____
Total M&I 116,727,000 149 17,424 38,413,000
_____ _____ _____ _____
Inferred:
Conglomerate 119,579,000 136 16,288 35,909,000
SO4 Rock* 57,381,000 145 8,307 18,313,000
Bedrock 130,000 116 15 33,000
_____ _____ _____ _____
Sub-Total Inferred 177,090,000 139 24,610 54,255,000
_____ _____ _____ _____
* SO4 Rock is material for which sulfate (gypsum) is present above a
process-determined cut-off grade of 0.30% SO4. The average SO4 grade of sulfate
rich ore is not yet determined, as too few assays are present to allow grade
estimation. SO4 material may or may not need special attention in processing.
In-fill RC drilling in progress will establish SO4 grade distribution.
Trekkopje Deposit Resources at 100 ppm U3O8 Cut-off grade
Resource Classification - 100 ppm cutoff Resource Grade Contained Contained
(tonnes) eU3O8 (ppm) Tonnes eU3O8 Pounds eU3O8
Measured 0 0 0 0
Indicated:
Conglomerate 20,063,000 133 2,659 5,862,000
SO4 Rock* 7,772,000 129 1,000 2,205,000
Bedrock 0 0
_____ _____ _____ _____
Total M&I 27,835,000 131 3,659 8,067,000
_____ _____ _____ _____
Inferred:
Conglomerate 11,395,000 127 1,445 3,186,000
SO4 Rock* 6,821,000 123 839 1,849,000
Bedrock 0 0
_____ _____ _____ _____
Sub-Total Inferred 18,216,000 125 2,284 5,035,000
_____ _____ _____ _____
* SO4 Rock is material for which sulfate (gypsum) is present above a
process-determined cut-off grade of 0.30% SO4. The average SO4 grade of sulfate
rock is not yet determined, as too few assays are present to allow grade
estimation. SO4 material may or may not need special attention in processing.
In-fill RC drilling in progress will establish SO4 grade distribution.
Resources for both Trekkopje and Klein Trekkopje have been updated from
September 2006 by the following:
• Completion of 200 by 200m spaced drilling at Klein Trekkopje and the
drilling of a 400 by 400 m area on 50 by 50m spacing to examine grade
variability:
• An 18ppm "background" radiometric eU3O8 base above which
mineralization exists was confirmed by chemical analyses. This was removed
from the down-hole eU3O8 data for all drill holes at both Trekkopje and Klein
Trekkopje.
• Statistical data defined a 35ppm break to corrected eU3O8 data, as the basis
for establishing grade shells at both deposits;
• Data was composited to 2.5m down-hole intervals to allow for the likelihood of
bulk tonnage mining methods, while permitting vertical discrimination of the
deposit at the top and bottom of mineralization.
• Increased density of drilling allowed for 100m x 100m x 2.5m blocks; grade
interpolation was by ordinary kriging internal to the grade shells, using
acceptable variography parameters that mimic geology.
• Resources were classified based on a proportion of the range, number of
composites, and a minimum number of drill holes; standard protocols for CIM
classifications of Measured, Indicated and Inferred resources.
• SO4 material was defined by a 0.3% SO4 cutoff, defining a surface
sub-parallel to the topography surface to define tonnes of SO4 material.
• SO4 grades are not reported as they are based on very limited RC assay data,
are not currently sufficient, and will be augmented with additional
information from the current 5-spot drilling in progress.
• For the purpose of a Preliminary Assessment, there are a total of 33.1
million tonnes of Measured and Indicated resource, and 64.2 million tonnes
of Inferred resource for which sufficient SO4 is present to be listed
separately. Approximately 22 million tonnes are currently in the plan as
normally processable material, pending further testing and drill assay
results. The remaining SO4 bearing resource is being investigated for
possible alternative processing options.
Resources will be updated in April 2007 after inclusion of 5-spot infill RC
drilling. The intent of the 5-spot drilling program is to convert Inferred
resources to Indicated resources and provide additional analytical data to
establish SO4 grades.
Feasibility a comprehensive study of a deposit in which all geological, engineering, operating, economic and other
study relevant factors are considered in sufficient detail for it to reasonably serve as the basis for a final
decision by a financial institution to finance the development of the deposit for mineral production
U308 ppm Triuranium octaoxide grades in parts per million generated as a result of the conversion of down hole
total gamma radiometric probe data to equivalent uranium oxide using probe calibration on known uranium
sources and QA/QC procedures. "Industry Standard Procedure"
Sodium Chemical formula - Na2CO3, is a sodium salt of carbonic acid
carbonate
V205 Vanadium pentoxide
SO4 Sulphate
Sedimentary Fluvial channel containing debris including clasts and sediment derived from a source upstream
channels
Conglomerate Rock consisting of rounded clasts of gravel surrounded by sand.
NI 43-101 National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion
Policy 43-101CP
Measured A 'Measured Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality,
Resource densities, shape, and physical characteristics are so well established that they can be estimated with
confidence sufficient to allow the appropriate application of technical and economic parameters, to
support production planning and evaluation of the economic viability of the deposit. The estimate is
based on detailed and reliable exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that
are spaced closely enough to confirm both geological and grade continuity.
Indicated An 'Indicated Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality,
Resource densities, shape and physical characteristics can be estimated with a level of confidence sufficient to
allow the appropriate application of technical and economic parameters, to support mine planning and
evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable
exploration and testing information gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and
grade continuity to be reasonably assumed.
Inferred An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality
Resource can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not
verified, geological and grade continuity. The estimate is based on limited information and sampling
gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and
drill holes.
5 spot infill Drill pattern that includes 4 drill holes on a square pattern with an additional 5th hole drilled at the
drilling centre of the square
eU3O8 (ppm) Triuranium octaoxide grades in parts per million generated as a result of the conversion of down hole
total gamma radiometric probe data to equivalent uranium oxide using probe calibration on known uranium
sources and QA/QC procedures. 'Industry Standard Procedure'.
Lb Pound
Uranium heavy silvery-white metallic element found in several minerals, notably uraninite and carnotite
SRK SRK Consulting (US) Incorporated, managing engineers for the feasibility study of the Trekkopje Uranium
Project
Tpd Tonnes per day
The resource information contained in this announcement has been reviewed by
Allan Moran, Principal Geologist with SRK. He is the Qualified Person overseeing
the Trekkopje Project drilling and resource estimation activities for the
purposes of NI 43-101 compliance. Mr. Moran has sufficient experience relevant
to the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking, to qualify as a Qualified Person for the
purposes of this announcement.
Resource estimation by SRK, follows CIM (Canadian Institute of Mining and
Metallurgy) resource classification categories, and resources were determined
using background-corrected eU3O8 radiometric probe data, ordinary kriging for
grade estimation and industry standard block modeling techniques. Industry
accepted "Best Practices Guidelines" were followed in data collection,
documentation, analyses, and reporting. UraMin has a QA/QC program in place for
sample analytical data and down-hole radiometric probe data. The stated
Trekkopje Project resource estimates are based on entirely new drilling data
collected in 2006 by UraMin, and does not include any historical drill hole
data.
The Interim Progress Update Report represents the latest view of project
concepts, designs and likely projected outcomes based on the work conducted to
date, industry accepted practice and certain project specific assumptions.
Readers are cautioned that the results reported are not definitive and maybe
subject to change as further work is undertaken. Project outcomes may
ultimately be materially different from those projected in this report.
Interim Feasibility Study
UraMin Inc
19 February 2007
19 February 2007
UraMin Inc.
("UraMin" or the "Company")
SRK's Interim Report on the Trekkopje Feasibility Study
UraMin is pleased to announce the results of SRK's Interim Progress Update
Report on the feasibility study for the Trekkopje Uranium Project in Namibia:
• Proposed production profile rising to over 8 million lbs per annum
U308 using heap leach technology
• Estimated operating costs are US$18.07 per lb U308 after V205 credit
(US$20.08 per lb without V205 credit) and estimated capital expenditure of
US$461 million
• Estimated pre-tax Internal Rate of Return of 67 per cent and a Net
Asset Value of US$1.2 billion (using an 8 per cent discount rate)
• Resources in the Measured and Indicated category increase over 200 per
cent to 46.5 million lbs at an average grade of 146ppm U308 (using a cut-off
of 100ppm)
Ian Stalker, Chief Executive, said: "SRK's project scope contemplates an open
pit mine utilising a sodium carbonate/bicarbonate heap leach process at a large
scale mining rate of 100,000 tpd. As a result production would rise to more
than 8 million lbs per annum of U308, much higher than previously envisaged, and
Trekkopje would become one of the largest uranium producing mines in the world.
SRK's interim results have exceeded expectations and we look forward to
completing the Feasibility Study and beginning the development stage later this
year."
Heap leach is the preferred processing technology following successful column
leach test work indicating recoveries of approximately 75 per cent and as a
result SRK has evaluated a production profile for Trekkopje rising to 8 million
lbs U308 per annum. This compares favourably with the 3.3 million lbs U308 per
annum of production previously considered using tank leach processing. Most
importantly water consumption using heap leaching is substantially lower than
would be the case with tank leaching.
SRK's model envisages a 2 year pre-production period, followed by a production
period of 8 years producing 61 million lbs U308 and 20 million lbs V205. A trial
mine is planned for the fourth quarter of 2007 and Trekkopje should commence
commercial production in the fourth quarter of 2008 at initial production rates
of 4 million lbs per annum scaling up to in excess of 8 million lbs within 2
years thereafter. Potential exists to achieve incremental production for the
project from the following areas:
• An additional 75 million tonnes of sulphate rich ore grading approximately
148 ppm is excluded from the proposed mine plan but is the subject of
further testing and could be amenable to acid leaching.
• Test work is being undertaken to determine whether lower grade material
using a cut off grade of 60 ppm could be treated on a "dump leach" basis.
• Excellent exploration potential exists on the additional exploration license
area granted to UraMin in November 2006. Significant radiometric
anomalies on the property are interpreted to delineate extensive sedimentary
channels, similar to those already drilled on the Trekkopje project.
This potential upside could extend the life of mine and sustainability of
production rates of 8 million lbs per annum of U308 beyond the initial mine plan
of 8 years with resultant enhanced project economics.
The selection of a carbonate/bi-carbonate heap leach and ion exchange at a mine
production rate of 100,000 tpd would require a water supply from a desalination
plant of 12 million m3 per year. It is anticipated that the cost of construction
of a desalination plant may be partially offset by contributions from other
parties reducing the estimated capital expenditure on the basis of a shared
plant.
Updated Resource Statement
UraMin is also pleased to announce SRK's NI 43-101 compliant updated interim
resource statement on the Trekkopje Uranium Project in Namibia where both
deposits have seen a substantial conversion of Inferred to Indicated Resources.
Current in-fill drilling is expected to convert most of the total remaining
Inferred resource to Measured and Indicated.
• Project Measured and Indicated resources are estimated at 144.6
million tonnes grading 146 ppm eU3O8 (at a 100 ppm cut off grade), containing
an estimated 46.5 million pounds of U3O8.
• Project Inferred resources are estimated at 195.3 million tonnes grading 138
ppm eU3O8, containing an estimated 59.3 million pounds U3O8.
• The Measured and Indicated resource increased 236% from the September 2006
initial resource estimate, as a result of the conversion of Inferred
resources, due to increased drill density.
• A program of in-fill drilling central to the 200 by 200m grid (5-spot
drilling) is being completed and is expected to convert much of the existing
Inferred resource to Measured and/or Indicated resource. An updated resource
estimate is due in April 2007.
Trekkopje Project Combined Resources at 100 ppm U3O8 Cut-off grade
Resource Classification Resource Grade Contained Contained
(tonnes) eU3O8 (ppm) Tonnes eU3O8 Pounds eU3O8
Measured:
Klein Trekkopje 7,096,000 156 1,105 2,435,000
Trekkopje 0 0 0 0
_____ _____ _____ _____
Sub-Total Measured 7,096,000 156 1,105 2,435,000
_____ _____ _____ _____
Indicated:
Klein Trekkopje 109,631,000 149 16,320 35,978,000
Trekkopje 27,835,000 131 3,659 8,067,000
_____ _____ _____ _____
Sub-Total Indicated 137,466,000 145 19,979 44,045,000
_____ _____ _____ _____
Measured & Indicated:
Klein Trekkopje 116,727,000 149 17,424 38,413,000
Trekkopje 27,835,000 131 3,659 8,067,000
_____ _____ _____ _____
Total M&I 144,562,000 146 21,084 46,480,000
_____ _____ _____ _____
Inferred:
Klein Trekkopje 177,090,000 139 24,610 54,255,000
Trekkopje 18,216,000 125 2,284 5,035,000
_____ _____ _____ _____
Sub-Total Inferred 195,306,000 138 26,894 59,290,000
_____ _____ _____ _____
Klein Trekkopje Deposit Resources at 100 ppm U3O8 Cut-off grade
Resource Classification - 100 ppm cutoff Resource Grade Contained Contained
(tonnes) eU3O8 (ppm) Tonnes eU3O8 Pounds eU3O8
Measured:
Conglomerate 2,835,000 143 404 891,000
SO4 Rock* 4,261,000 164 700 1,544,000
Bedrock 0 0 0 0
_____ _____ _____ _____
Sub-Total Measured 7,096,000 156 1,105 2,435,000
_____ _____ _____ _____
Indicated:
Conglomerate 88,430,000 144 12,744 28,095,000
SO4 Rock* 21,076,000 169 3,561 7,851,000
Bedrock 125,000 115 14 32,000
_____ _____ _____ _____
Sub-Total Indicated 109,631,000 149 16,320 35,978,000
_____ _____ _____ _____
Measured & Indicated:
Conglomerate 91,265,000 144 13,148 28,986,000
SO4 Rock* 25,337,000 168 4,262 9,395,000
Bedrock 125,000 115 14 32,000
_____ _____ _____ _____
Total M&I 116,727,000 149 17,424 38,413,000
_____ _____ _____ _____
Inferred:
Conglomerate 119,579,000 136 16,288 35,909,000
SO4 Rock* 57,381,000 145 8,307 18,313,000
Bedrock 130,000 116 15 33,000
_____ _____ _____ _____
Sub-Total Inferred 177,090,000 139 24,610 54,255,000
_____ _____ _____ _____
* SO4 Rock is material for which sulfate (gypsum) is present above a
process-determined cut-off grade of 0.30% SO4. The average SO4 grade of sulfate
rich ore is not yet determined, as too few assays are present to allow grade
estimation. SO4 material may or may not need special attention in processing.
In-fill RC drilling in progress will establish SO4 grade distribution.
Trekkopje Deposit Resources at 100 ppm U3O8 Cut-off grade
Resource Classification - 100 ppm cutoff Resource Grade Contained Contained
(tonnes) eU3O8 (ppm) Tonnes eU3O8 Pounds eU3O8
Measured 0 0 0 0
Indicated:
Conglomerate 20,063,000 133 2,659 5,862,000
SO4 Rock* 7,772,000 129 1,000 2,205,000
Bedrock 0 0
_____ _____ _____ _____
Total M&I 27,835,000 131 3,659 8,067,000
_____ _____ _____ _____
Inferred:
Conglomerate 11,395,000 127 1,445 3,186,000
SO4 Rock* 6,821,000 123 839 1,849,000
Bedrock 0 0
_____ _____ _____ _____
Sub-Total Inferred 18,216,000 125 2,284 5,035,000
_____ _____ _____ _____
* SO4 Rock is material for which sulfate (gypsum) is present above a
process-determined cut-off grade of 0.30% SO4. The average SO4 grade of sulfate
rock is not yet determined, as too few assays are present to allow grade
estimation. SO4 material may or may not need special attention in processing.
In-fill RC drilling in progress will establish SO4 grade distribution.
Resources for both Trekkopje and Klein Trekkopje have been updated from
September 2006 by the following:
• Completion of 200 by 200m spaced drilling at Klein Trekkopje and the
drilling of a 400 by 400 m area on 50 by 50m spacing to examine grade
variability:
• An 18ppm "background" radiometric eU3O8 base above which
mineralization exists was confirmed by chemical analyses. This was removed
from the down-hole eU3O8 data for all drill holes at both Trekkopje and Klein
Trekkopje.
• Statistical data defined a 35ppm break to corrected eU3O8 data, as the basis
for establishing grade shells at both deposits;
• Data was composited to 2.5m down-hole intervals to allow for the likelihood of
bulk tonnage mining methods, while permitting vertical discrimination of the
deposit at the top and bottom of mineralization.
• Increased density of drilling allowed for 100m x 100m x 2.5m blocks; grade
interpolation was by ordinary kriging internal to the grade shells, using
acceptable variography parameters that mimic geology.
• Resources were classified based on a proportion of the range, number of
composites, and a minimum number of drill holes; standard protocols for CIM
classifications of Measured, Indicated and Inferred resources.
• SO4 material was defined by a 0.3% SO4 cutoff, defining a surface
sub-parallel to the topography surface to define tonnes of SO4 material.
• SO4 grades are not reported as they are based on very limited RC assay data,
are not currently sufficient, and will be augmented with additional
information from the current 5-spot drilling in progress.
• For the purpose of a Preliminary Assessment, there are a total of 33.1
million tonnes of Measured and Indicated resource, and 64.2 million tonnes
of Inferred resource for which sufficient SO4 is present to be listed
separately. Approximately 22 million tonnes are currently in the plan as
normally processable material, pending further testing and drill assay
results. The remaining SO4 bearing resource is being investigated for
possible alternative processing options.
Resources will be updated in April 2007 after inclusion of 5-spot infill RC
drilling. The intent of the 5-spot drilling program is to convert Inferred
resources to Indicated resources and provide additional analytical data to
establish SO4 grades.
Feasibility a comprehensive study of a deposit in which all geological, engineering, operating, economic and other
study relevant factors are considered in sufficient detail for it to reasonably serve as the basis for a final
decision by a financial institution to finance the development of the deposit for mineral production
U308 ppm Triuranium octaoxide grades in parts per million generated as a result of the conversion of down hole
total gamma radiometric probe data to equivalent uranium oxide using probe calibration on known uranium
sources and QA/QC procedures. "Industry Standard Procedure"
Sodium Chemical formula - Na2CO3, is a sodium salt of carbonic acid
carbonate
V205 Vanadium pentoxide
SO4 Sulphate
Sedimentary Fluvial channel containing debris including clasts and sediment derived from a source upstream
channels
Conglomerate Rock consisting of rounded clasts of gravel surrounded by sand.
NI 43-101 National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion
Policy 43-101CP
Measured A 'Measured Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality,
Resource densities, shape, and physical characteristics are so well established that they can be estimated with
confidence sufficient to allow the appropriate application of technical and economic parameters, to
support production planning and evaluation of the economic viability of the deposit. The estimate is
based on detailed and reliable exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that
are spaced closely enough to confirm both geological and grade continuity.
Indicated An 'Indicated Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality,
Resource densities, shape and physical characteristics can be estimated with a level of confidence sufficient to
allow the appropriate application of technical and economic parameters, to support mine planning and
evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable
exploration and testing information gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and
grade continuity to be reasonably assumed.
Inferred An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality
Resource can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not
verified, geological and grade continuity. The estimate is based on limited information and sampling
gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and
drill holes.
5 spot infill Drill pattern that includes 4 drill holes on a square pattern with an additional 5th hole drilled at the
drilling centre of the square
eU3O8 (ppm) Triuranium octaoxide grades in parts per million generated as a result of the conversion of down hole
total gamma radiometric probe data to equivalent uranium oxide using probe calibration on known uranium
sources and QA/QC procedures. 'Industry Standard Procedure'.
Lb Pound
Uranium heavy silvery-white metallic element found in several minerals, notably uraninite and carnotite
SRK SRK Consulting (US) Incorporated, managing engineers for the feasibility study of the Trekkopje Uranium
Project
Tpd Tonnes per day
The resource information contained in this announcement has been reviewed by
Allan Moran, Principal Geologist with SRK. He is the Qualified Person overseeing
the Trekkopje Project drilling and resource estimation activities for the
purposes of NI 43-101 compliance. Mr. Moran has sufficient experience relevant
to the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking, to qualify as a Qualified Person for the
purposes of this announcement.
Resource estimation by SRK, follows CIM (Canadian Institute of Mining and
Metallurgy) resource classification categories, and resources were determined
using background-corrected eU3O8 radiometric probe data, ordinary kriging for
grade estimation and industry standard block modeling techniques. Industry
accepted "Best Practices Guidelines" were followed in data collection,
documentation, analyses, and reporting. UraMin has a QA/QC program in place for
sample analytical data and down-hole radiometric probe data. The stated
Trekkopje Project resource estimates are based on entirely new drilling data
collected in 2006 by UraMin, and does not include any historical drill hole
data.
The Interim Progress Update Report represents the latest view of project
concepts, designs and likely projected outcomes based on the work conducted to
date, industry accepted practice and certain project specific assumptions.
Readers are cautioned that the results reported are not definitive and maybe
subject to change as further work is undertaken. Project outcomes may
ultimately be materially different from those projected in this report.
20.02.07 14:19
#2
wandler
uramin
ist ein absolutes highliht bin seit 1,2eu drin habe das teil
hier auch damals angesprochen,uramin wurde von der serioesen
wiwo am 22.1.07 empfohlen seitdem 110%plus gruss Wandler
hier auch damals angesprochen,uramin wurde von der serioesen
wiwo am 22.1.07 empfohlen seitdem 110%plus gruss Wandler
21.02.07 07:56
#3
trauriger_frodo
Einsteigen?
ich liebäugel auch schon mit diesem titel bin aber noch ein wenig unsicher. (nackte angst :-) )meint ihr, daß man jetzt noch einsteigen sollte?
was ich euch empfehlen kann sind forsys !!! das soll kein gepushe sein, aber da bin ich schon lange dabei und der titel macht richtig spaß !! :-)
was ich euch empfehlen kann sind forsys !!! das soll kein gepushe sein, aber da bin ich schon lange dabei und der titel macht richtig spaß !! :-)
21.02.07 09:18
#4
Inform2006
@trauriger_frodo
Keine Kaufempfehlung! Muß jeder selber entscheiden! Aber die News waren Klasse wenn man sie sich mal genauer ansieht.Uramin ist sogar näher an der Produktion als Forsys .In Forsys bin ich selbst schon lange dabei wenn du den Thread mal verfolgst :-)
gruß Inform
gruß Inform
21.02.07 10:29
#5
trauriger_frodo
@inform
danke für die info...bin mal mit ner kleinen menge eingestiegen...bin erst seit gestern angemeldet, deswegen habe ich mich noch nicht umgeschaut...
viele grüße
viele grüße
21.02.07 14:59
#6
Inform2006
Rohstoffraketen Uramin kaufen
Bei Uran-Explorern wird es ein heißer
Frühling und Sie als Leser von Rohstoffraketen.
de sind darauf bestens vorbereitet
und positioniert!
Wem unser Dauerrenner Forsys Metals nicht
ausreicht und wer noch mehr Uranaktien aus
Diversifikationsgründen sucht, der sollte sich
neben unserem zweiten Favoriten Powertech
Uranium auch Aktien von Uramin, Energy
Metals und Uranerz ins „Urandepot“ packen.
Frühling und Sie als Leser von Rohstoffraketen.
de sind darauf bestens vorbereitet
und positioniert!
Wem unser Dauerrenner Forsys Metals nicht
ausreicht und wer noch mehr Uranaktien aus
Diversifikationsgründen sucht, der sollte sich
neben unserem zweiten Favoriten Powertech
Uranium auch Aktien von Uramin, Energy
Metals und Uranerz ins „Urandepot“ packen.
22.02.07 09:07
#7
Inform2006
o.T
Kupferberg (aktiencheck.de AG) - Nach Meinung der Experten von "Rohstoffraketen.de" ist die Aktie von Uramin (ISIN VGG9298V1067/ WKN A0JM97) nicht teuer.
Uramin habe in der vergangenen Woche die große kanadische Investmentbank BMO Capital Markets beauftragt, nach interessanten Optionen für mögliche Zusammenschlüsse Ausschau zu halten.
"Es ist eine kleine Industrie, wir kennen uns alle untereinander und reden die ganze Zeit miteinander. Wir suchen nach größeren, aber auch kleineren Gesellschaften, die zu uns passen", habe Finanzvorstand Neil Herbert am Dienstag gesagt.
Uramin sei nach Ansicht der Experten, trotz der bereits beachtlichen Börsenbewertung von 1,3 Mrd. Kanadische Dollar, noch nicht teuer. Denn dieser Börsenbewertung stünden 270 Millionen Pfund Uran in verschiedenen Liegenschaften gegenüber. Sehr viel davon übrigens in Namibia, der Heimat von Forsys Metals, Paladin und der weltgrößten Uranmine Roessing von Rio Tinto.
Die Experten von "Rohstoffraketen.de" halten die Aktie von Uramin für ein interessantes Investment. (Ausgabe vom 21.02.2007) (22.02.2007/ac/a/a)
Uramin habe in der vergangenen Woche die große kanadische Investmentbank BMO Capital Markets beauftragt, nach interessanten Optionen für mögliche Zusammenschlüsse Ausschau zu halten.
"Es ist eine kleine Industrie, wir kennen uns alle untereinander und reden die ganze Zeit miteinander. Wir suchen nach größeren, aber auch kleineren Gesellschaften, die zu uns passen", habe Finanzvorstand Neil Herbert am Dienstag gesagt.
Uramin sei nach Ansicht der Experten, trotz der bereits beachtlichen Börsenbewertung von 1,3 Mrd. Kanadische Dollar, noch nicht teuer. Denn dieser Börsenbewertung stünden 270 Millionen Pfund Uran in verschiedenen Liegenschaften gegenüber. Sehr viel davon übrigens in Namibia, der Heimat von Forsys Metals, Paladin und der weltgrößten Uranmine Roessing von Rio Tinto.
Die Experten von "Rohstoffraketen.de" halten die Aktie von Uramin für ein interessantes Investment. (Ausgabe vom 21.02.2007) (22.02.2007/ac/a/a)
23.02.07 18:40
#8
balendonck
Financing - Trekkopje Uranium Project, Namibia
UraMin Inc. ('UraMin' or the 'Company') (TSX: UMN; AIM: UMN) announces that it has entered into an engagement letter with BMO Capital Markets on behalf of itself and others as agents for a private placement of a minimum of US$200 million (approximately £100 million) of common shares of UraMin. Closing is expected to occur on or around March 20, 2007. UraMin intends to use the proceeds of this private placement to partially fund the estimated US$461 million of capital required to finance the Company's Trekkopje Project in Namibia to commercial production. The private placement is subject to regulatory approval. UraMin (www.uramin.com) is listed on the Alternative Investment Market of the London Stock Exchange plc and the Toronto Stock Exchange, trading under the symbol UMN.
UraMin currently has approximately US$88 million of net free uncommitted cash in its treasury which will primarily be used to carry out trial mining of the Trekkopje Project and to advance to the feasibility study stage both the Ryst Kuil Uranium Project in Africa and the Bakouma Uranium Project in the Central African Republic. The additional US$200 million will be used primarily to advance the Trekkopje Project to commercial production including the procurement of long lead time capital cost items and carry out development work thereon.
UraMin Inc. ('UraMin' or the 'Company') (TSX: UMN; AIM: UMN) announces that it has entered into an engagement letter with BMO Capital Markets on behalf of itself and others as agents for a private placement of a minimum of US$200 million (approximately £100 million) of common shares of UraMin. Closing is expected to occur on or around March 20, 2007. UraMin intends to use the proceeds of this private placement to partially fund the estimated US$461 million of capital required to finance the Company's Trekkopje Project in Namibia to commercial production. The private placement is subject to regulatory approval. UraMin (www.uramin.com) is listed on the Alternative Investment Market of the London Stock Exchange plc and the Toronto Stock Exchange, trading under the symbol UMN.
UraMin currently has approximately US$88 million of net free uncommitted cash in its treasury which will primarily be used to carry out trial mining of the Trekkopje Project and to advance to the feasibility study stage both the Ryst Kuil Uranium Project in Africa and the Bakouma Uranium Project in the Central African Republic. The additional US$200 million will be used primarily to advance the Trekkopje Project to commercial production including the procurement of long lead time capital cost items and carry out development work thereon.
27.02.07 15:37
#9
dementia
Emerging Markets Investor - Uramin mit Potenzial
11:11 27.02.07
Endingen (aktiencheck.de AG) - Die Experten von "Emerging Markets Investor" sehen bei der Aktie von Uramin (ISIN VGG9298V1067/ WKN A0JM97) Potenzial.
Nach Ansicht der Wertpapierexperten könnten Anleger bei Uramin quasi von Beginn an dabei sein, denn das Unternehmen sei erst im letzten Dezember an die Börse gegangen. Dass sich der Kurs seither verdoppelt habe, sollte nicht stören, denn die Erfolgsstory stehe hier erst am Anfang. Uramin sei vornehmlich in Namibia (fünftgrößter Uranproduzenten der Welt) aktiv. Weitere Gebiete seien die Zentralafrikanische Republik, dem Chad, in Mosambique und Südafrika.
Anleger könnten davon ausgehen, dass Uramin mit diesem Portfolio in den kommenden Jahren für Furore sorgen werde. In den letzten Jahren habe man 170 Mio. USD zur Entwicklung der Projekte eingesammelt und mit Samuel Jonah einen absoluten Top-Mann für die Unternehmensführung gewinnen können. Samuel Jona sei früher CEO von Ashanti Goldfields und sei heute noch Vorstandsmitglied von Anglo Gold, beides Unternehmen, die zu den größten Goldproduzenten der Welt gehören. Und obwohl Uramin bereits einen Börsenwert von 1 Mrd. USD aufweise, würden die Uran-Reserven nur mit 4 Kanadischen Dollar je Pfund mit mehr als 50 Prozent Abschlag zum Branchenschnitt bewertet. Das könnte daran liegen, dass noch kein einziges größeres Investmenthaus diesen Titel covere.
Die Experten von "Emerging Markets Investor" empfehlen in die Uramin-Aktie einzusteigen, solange der Titel noch unentdeckt sei. Auf Jahressicht winke ein Potenzial um die 100 Prozent. (Ausgabe 4 vom 26.02.2007) (27.02.2007/ac/a/a)
11:11 27.02.07
Endingen (aktiencheck.de AG) - Die Experten von "Emerging Markets Investor" sehen bei der Aktie von Uramin (ISIN VGG9298V1067/ WKN A0JM97) Potenzial.
Nach Ansicht der Wertpapierexperten könnten Anleger bei Uramin quasi von Beginn an dabei sein, denn das Unternehmen sei erst im letzten Dezember an die Börse gegangen. Dass sich der Kurs seither verdoppelt habe, sollte nicht stören, denn die Erfolgsstory stehe hier erst am Anfang. Uramin sei vornehmlich in Namibia (fünftgrößter Uranproduzenten der Welt) aktiv. Weitere Gebiete seien die Zentralafrikanische Republik, dem Chad, in Mosambique und Südafrika.
Anleger könnten davon ausgehen, dass Uramin mit diesem Portfolio in den kommenden Jahren für Furore sorgen werde. In den letzten Jahren habe man 170 Mio. USD zur Entwicklung der Projekte eingesammelt und mit Samuel Jonah einen absoluten Top-Mann für die Unternehmensführung gewinnen können. Samuel Jona sei früher CEO von Ashanti Goldfields und sei heute noch Vorstandsmitglied von Anglo Gold, beides Unternehmen, die zu den größten Goldproduzenten der Welt gehören. Und obwohl Uramin bereits einen Börsenwert von 1 Mrd. USD aufweise, würden die Uran-Reserven nur mit 4 Kanadischen Dollar je Pfund mit mehr als 50 Prozent Abschlag zum Branchenschnitt bewertet. Das könnte daran liegen, dass noch kein einziges größeres Investmenthaus diesen Titel covere.
Die Experten von "Emerging Markets Investor" empfehlen in die Uramin-Aktie einzusteigen, solange der Titel noch unentdeckt sei. Auf Jahressicht winke ein Potenzial um die 100 Prozent. (Ausgabe 4 vom 26.02.2007) (27.02.2007/ac/a/a)
06.03.07 11:57
#10
pkera
News: Uramin
Press Release Source: UraMin Inc., Waseco Resources Inc.
UraMin and Waseco Announce Major New Uranium Discovery
Monday March 5, 2:01 pm ET
TORONTO, ONTARIO--(CCNMatthews - March 5, 2007) - UraMin Inc. (TSX:UMN - News; AIM:UMN) and Waseco Resources Inc. (TSX VENTURE:WRI - News; FRANKFURT:WSE - News) are pleased to announce the discovery of a new area of Uranium mineralization in the Quebec Labrador Trough, approximately 310 km north of Schefferville, Quebec.
The area is within the wholly owned 254 claim block staked by Waseco, which is now referred to as the "Extended Block III". The information is detailed in The MPX Geophysical Report on the airborne survey conducted over the area last fall.
Highlights of the geophysical survey and interpretation are as follows:
- Nine (9) large zones of Uranium enrichment;
A "zone" in this study is defined as having an extension approaching or
exceeding 1 Kilometre in measurement and of amplitude exceeding 7.5 ppm
eU;
- One hundred and forty nine (149) discrete Uranium anomalies;
A discrete "anomaly" is defined as a circular or elliptical shaped
anomaly, usually of limited diameter (less than 700 metres) and of high
amplitude (greater than 9.0 ppm eU) that is distinct from/or hosted in
a Uranium zone.
Definition of eU (Source: IAEA Report IAEA-TECDOC-1363, July 2003): Uranium concentration estimates are based on the measurement of 214Bi and 214Pb isotope abundances. These occur far down in the radioactive decay chain and may not be in equilibrium with uranium. Estimates of uranium concentration are indirect and therefore reported as "equivalent uranium" (eU) as these estimates are based on the assumption of equilibrium conditions. The units are in parts per million (ppm).
The area was first identified as being prospective for Uranium during the regional compilation of historical work, where high grade uranium values were reported by the Quebec government in the lake bed sediments. The current survey was completed using a Geophex GEM -2A helicopter borne frequency domain electromagnetic (EM) system with a Pico-Envirotec gamma ray spectrometer.
"We are extremely pleased with the results obtained," stated Waseco Chairman A.C.A. (Peter) Howe "In addition to the Extended Block III area, we are equally excited by the Block I/II results announced earlier this month, which confirmed the presence of six (6) additional large zones of Uranium enrichment and eight (8) discrete Uranium anomalies"(see New Release Feb 2, 2007).
UraMin's New Business Manager, Keith Kenyon, stated that: "The Quebec government has reported seven (7) values that exceeded 200 ppm. for uranium in lake bed sediments on Extended Block III. This, when coupled with geophysical results, further confirms the prospective nature of the area for uranium and certainly make this a priority exploration project for both companies. Given the higher profile this project is taking on, we are seeking to recruit a project manager for our Canadian operations to oversee the planned field work and drilling program."
Exploration Management is very pleased with the results of the study and with the quality of the Report on the Extended Block III. It cautions readers that the areas referred to are surficial, as these radiometric readings generally penetrate 1.5 metres in depth. Further ground truthing is required to quantify and qualify the uranium potential.
The scientific content of this release has been reviewed and approved by Robert B. Hearst, M.Sc. P. Geo, P. Geoph., Special Authorization No. 69 (OGQ), as a Qualified Person under Ni-43-101.
Waseco Resources is an exploration company focusing on uranium exploration in the Quebec Labrador Trough. The Company is listed for trading on the TSX Venture exchange and on the Frankfurt Exchange. There are currently 29.4 million shares issued and outstanding.
UraMin Inc. was established in 2005 to acquire and develop mineral properties, primarily uranium. The Company has several advance stage uranium projects in Africa and exploration projects internationally.
The TSX nor TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
Contact:
Richard Williams
Waseco Resources Inc.
President
(416) 364-3123
Ian Stalker
UraMin Inc.
Chief Executive Officer
+27 (0)11 783 5056
Neil Herbert
UraMin Inc.
Finance Director
+27 (0)11 783 5056
Steve Vaughan
UraMin Inc. - Toronto
(416) 643-6924
Source: UraMin Inc., Waseco Resources Inc.
UraMin and Waseco Announce Major New Uranium Discovery
Monday March 5, 2:01 pm ET
TORONTO, ONTARIO--(CCNMatthews - March 5, 2007) - UraMin Inc. (TSX:UMN - News; AIM:UMN) and Waseco Resources Inc. (TSX VENTURE:WRI - News; FRANKFURT:WSE - News) are pleased to announce the discovery of a new area of Uranium mineralization in the Quebec Labrador Trough, approximately 310 km north of Schefferville, Quebec.
The area is within the wholly owned 254 claim block staked by Waseco, which is now referred to as the "Extended Block III". The information is detailed in The MPX Geophysical Report on the airborne survey conducted over the area last fall.
Highlights of the geophysical survey and interpretation are as follows:
- Nine (9) large zones of Uranium enrichment;
A "zone" in this study is defined as having an extension approaching or
exceeding 1 Kilometre in measurement and of amplitude exceeding 7.5 ppm
eU;
- One hundred and forty nine (149) discrete Uranium anomalies;
A discrete "anomaly" is defined as a circular or elliptical shaped
anomaly, usually of limited diameter (less than 700 metres) and of high
amplitude (greater than 9.0 ppm eU) that is distinct from/or hosted in
a Uranium zone.
Definition of eU (Source: IAEA Report IAEA-TECDOC-1363, July 2003): Uranium concentration estimates are based on the measurement of 214Bi and 214Pb isotope abundances. These occur far down in the radioactive decay chain and may not be in equilibrium with uranium. Estimates of uranium concentration are indirect and therefore reported as "equivalent uranium" (eU) as these estimates are based on the assumption of equilibrium conditions. The units are in parts per million (ppm).
The area was first identified as being prospective for Uranium during the regional compilation of historical work, where high grade uranium values were reported by the Quebec government in the lake bed sediments. The current survey was completed using a Geophex GEM -2A helicopter borne frequency domain electromagnetic (EM) system with a Pico-Envirotec gamma ray spectrometer.
"We are extremely pleased with the results obtained," stated Waseco Chairman A.C.A. (Peter) Howe "In addition to the Extended Block III area, we are equally excited by the Block I/II results announced earlier this month, which confirmed the presence of six (6) additional large zones of Uranium enrichment and eight (8) discrete Uranium anomalies"(see New Release Feb 2, 2007).
UraMin's New Business Manager, Keith Kenyon, stated that: "The Quebec government has reported seven (7) values that exceeded 200 ppm. for uranium in lake bed sediments on Extended Block III. This, when coupled with geophysical results, further confirms the prospective nature of the area for uranium and certainly make this a priority exploration project for both companies. Given the higher profile this project is taking on, we are seeking to recruit a project manager for our Canadian operations to oversee the planned field work and drilling program."
Exploration Management is very pleased with the results of the study and with the quality of the Report on the Extended Block III. It cautions readers that the areas referred to are surficial, as these radiometric readings generally penetrate 1.5 metres in depth. Further ground truthing is required to quantify and qualify the uranium potential.
The scientific content of this release has been reviewed and approved by Robert B. Hearst, M.Sc. P. Geo, P. Geoph., Special Authorization No. 69 (OGQ), as a Qualified Person under Ni-43-101.
Waseco Resources is an exploration company focusing on uranium exploration in the Quebec Labrador Trough. The Company is listed for trading on the TSX Venture exchange and on the Frankfurt Exchange. There are currently 29.4 million shares issued and outstanding.
UraMin Inc. was established in 2005 to acquire and develop mineral properties, primarily uranium. The Company has several advance stage uranium projects in Africa and exploration projects internationally.
The TSX nor TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
Contact:
Richard Williams
Waseco Resources Inc.
President
(416) 364-3123
Ian Stalker
UraMin Inc.
Chief Executive Officer
+27 (0)11 783 5056
Neil Herbert
UraMin Inc.
Finance Director
+27 (0)11 783 5056
Steve Vaughan
UraMin Inc. - Toronto
(416) 643-6924
Source: UraMin Inc., Waseco Resources Inc.
06.03.07 20:59
#11
pkera
News: Uramin
http://de.advfn.com/news_Issue-of-Shares_19683131.html
NS Number:4444S
UraMin Inc
06 March 2007
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
6 March 2007
UraMin Inc.
("UraMin" or "the Company")
The Company announces that it has issued a total of 1,798,000 new Ordinary
Shares of no par value pursuant to the exercise of broker options.
The shares are listed on the TSX and application has been made for these shares
to be admitted to trading on AIM and to listing on the TSX and it is expected
that dealings will commence 12 March 2007.
The securities referred to in this release will not be registered under the
United States Securities Act of 1933 or the laws of any state and may not be
offered or sold in the United States absent such registration or an applicable
exemption from registration requirements.
For further information:
Neil Herbert, Finance Director
Tel: +27 (0)11 783 5056
Nominated Advisor
Canaccord Adams
Robin Birchall
Tel: +44 (0)20 7050 6500
Toronto
Steve Vaughan
Tel: +1 416 643 6924
UK Media Enquiries
Financial Dynamics
Ben Brewerton / Ed Westropp
Tel: +44 20 7831 3113
Background Information:
UraMin (www.uramin.com) was founded in February 2005 and its shares are traded
on the AIM market of the London Stock Exchange and the Toronto Stock Exchange
under the symbol 'UMN'. The Company was established to acquire and develop
mineral properties, predominantly uranium. The Company currently has working
capital of approximately US$88 million and a market capitalization of
approximately US$1 billion on an undiluted basis.
UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for the prospecting rights in the Ryst Kuil Channel of
the Karoo or elsewhere in South Africa will be successful.
NS Number:4444S
UraMin Inc
06 March 2007
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
6 March 2007
UraMin Inc.
("UraMin" or "the Company")
The Company announces that it has issued a total of 1,798,000 new Ordinary
Shares of no par value pursuant to the exercise of broker options.
The shares are listed on the TSX and application has been made for these shares
to be admitted to trading on AIM and to listing on the TSX and it is expected
that dealings will commence 12 March 2007.
The securities referred to in this release will not be registered under the
United States Securities Act of 1933 or the laws of any state and may not be
offered or sold in the United States absent such registration or an applicable
exemption from registration requirements.
For further information:
Neil Herbert, Finance Director
Tel: +27 (0)11 783 5056
Nominated Advisor
Canaccord Adams
Robin Birchall
Tel: +44 (0)20 7050 6500
Toronto
Steve Vaughan
Tel: +1 416 643 6924
UK Media Enquiries
Financial Dynamics
Ben Brewerton / Ed Westropp
Tel: +44 20 7831 3113
Background Information:
UraMin (www.uramin.com) was founded in February 2005 and its shares are traded
on the AIM market of the London Stock Exchange and the Toronto Stock Exchange
under the symbol 'UMN'. The Company was established to acquire and develop
mineral properties, predominantly uranium. The Company currently has working
capital of approximately US$88 million and a market capitalization of
approximately US$1 billion on an undiluted basis.
UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for the prospecting rights in the Ryst Kuil Channel of
the Karoo or elsewhere in South Africa will be successful.
07.03.07 10:34
#13
pfiff13
URAMIN ist -
sowie Uranium Power - voll im Aufwärtstrend. Aus den zahlreichen Empfehlungen von SERIÖSEN Börsenbriefen sieht man, welches gewaltiges Potenzial noch in diesen Werten steckt. Von der derzeitigen Unterbewertung gar nicht zu sprechen. Hinzu kommt der stetig steigende Uranpreis. Das werden jetzt für die in URAMIN und URANIUM POWER Investierten wunderschöne Tage und Wochen. Hipp Hipp Hurra...
07.03.07 12:08
#14
pkera
Uramin: Placement
@pfiff: Uramin mag ich auch.
10:19 07Mar2007 RNS-REG-UraMin Inc Private Placement Update
.
RNS Number:4757S
UraMin Inc
07 March 2007
7 March 2007
UraMin Inc.
("UraMin" or the "Company")
£117.0 Million Private Placement Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
UraMin is pleased to announce the size and pricing of its previously announced
private placement. The offering consists of the private placement of 52.0
million ordinary shares of UraMin at a price of £2.25 per share for gross
proceeds of £117.0 million (the equivalent of approximately US$226 million or
CDN$266 million). The Company and BMO Capital Markets, as lead agent, on behalf
of itself, Canaccord Adams Limited and Sprott Securities Inc. (the "Agents")
have entered into an engagement letter pursuant to which the Agents have agreed
to act as agents for the private placement. Closing is expected to occur on or
around March 20, 2007. UraMin intends to use the proceeds of this private
placement to partially fund the capital required to finance the Company\'s
Trekkopje Project in Namibia to commercial production, currently scheduled for
late 2008. The private placement is subject to regulatory approval. UraMin
(www.uramin.com) is listed on the Alternative Investment Market of the London
Stock Exchange plc and the Toronto Stock Exchange, trading under the symbol UMN.
UraMin currently has approximately US$88 million of net free uncommitted cash in
its treasury which will primarily be used to carry out trial mining of the
Trekkopje Project and to advance to the feasibility study stage both the Ryst
Kuil Uranium Project in South Africa and the Bakouma Uranium Project in the
Central African Republic. The additional US$226 million will be used primarily
to advance the Trekkopje Project to commercial production including the
procurement of long lead time capital cost items and carry out development work
thereon.
GLOSSARY
Feasibility a comprehensive study of a deposit in which all geological,
study engineering, operating, economic and other relevant factors are
considered in sufficient detail for it to reasonably serve as
the basis for a final decision by a financial institution to
finance the development of the deposit for mineral production
Uranium heavy silvery-white metallic element found in several minerals,
notably uraninite and carnotite
BACKGROUND INFORMATION
The Company was established in 2005 to acquire and develop mineral properties,
predominantly uranium. The Company currently has working capital of
approximately US$88 million and a market capitalization of approximately US$1
billion on an undiluted basis.
UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for the prospecting rights in the Ryst Kuil Channel of
the Karoo or elsewhere in South Africa will be successful.
FORWARD LOOKING STATEMENTS
This press release contains statements that are "forward-looking". Generally,
the words "expect," "intend," "estimate," "will" and similar expressions
identify forward-looking statements. By their very nature, forward-looking
statements are subject to known and unknown risks and uncertainties that may
cause our actual results, performance or achievements, or that of our industry,
to differ materially from those expressed or implied in any of our
forward-looking statements. Statements in this press release regarding the
Company\'s business or proposed business, which are not historical facts, are
"forward looking" statements that involve risks and uncertainties, such as
estimates and statements that describe the Company\'s Future plans, objectives or
goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date they are made.
The securities referred to in this release will not be registered under the
United States Securities Act of 1933 or the laws of any state and may not be
offered or sold in the United States absent such registration or an applicable
exemption from registration requirements.
For further information:
Ian Stalker Chief Executive Officer
Neil Herbert, Finance Director
Tel: +27 (0)11 783 5056
BMO Capital Markets
Elizabeth Wademan
Tel: +1 416 359 4241
Canaccord Adams Limited
Mike Jones
Robin Birchall
Tel: +44 20 7050 6741
Toronto
Steve Vaughan
Heenan Blaikie LLP
+1 416 643 6924
UK Media Enquiries
Financial Dynamics
Ben Brewerton / Ed Westropp
Tel: +44 20 7269 7279
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Wednesday, 07 March 2007 10:19:36RNS [nRNSG4757S] {EN}ENDS
10:19 07Mar2007 RNS-REG-UraMin Inc Private Placement Update
.
RNS Number:4757S
UraMin Inc
07 March 2007
7 March 2007
UraMin Inc.
("UraMin" or the "Company")
£117.0 Million Private Placement Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
UraMin is pleased to announce the size and pricing of its previously announced
private placement. The offering consists of the private placement of 52.0
million ordinary shares of UraMin at a price of £2.25 per share for gross
proceeds of £117.0 million (the equivalent of approximately US$226 million or
CDN$266 million). The Company and BMO Capital Markets, as lead agent, on behalf
of itself, Canaccord Adams Limited and Sprott Securities Inc. (the "Agents")
have entered into an engagement letter pursuant to which the Agents have agreed
to act as agents for the private placement. Closing is expected to occur on or
around March 20, 2007. UraMin intends to use the proceeds of this private
placement to partially fund the capital required to finance the Company\'s
Trekkopje Project in Namibia to commercial production, currently scheduled for
late 2008. The private placement is subject to regulatory approval. UraMin
(www.uramin.com) is listed on the Alternative Investment Market of the London
Stock Exchange plc and the Toronto Stock Exchange, trading under the symbol UMN.
UraMin currently has approximately US$88 million of net free uncommitted cash in
its treasury which will primarily be used to carry out trial mining of the
Trekkopje Project and to advance to the feasibility study stage both the Ryst
Kuil Uranium Project in South Africa and the Bakouma Uranium Project in the
Central African Republic. The additional US$226 million will be used primarily
to advance the Trekkopje Project to commercial production including the
procurement of long lead time capital cost items and carry out development work
thereon.
GLOSSARY
Feasibility a comprehensive study of a deposit in which all geological,
study engineering, operating, economic and other relevant factors are
considered in sufficient detail for it to reasonably serve as
the basis for a final decision by a financial institution to
finance the development of the deposit for mineral production
Uranium heavy silvery-white metallic element found in several minerals,
notably uraninite and carnotite
BACKGROUND INFORMATION
The Company was established in 2005 to acquire and develop mineral properties,
predominantly uranium. The Company currently has working capital of
approximately US$88 million and a market capitalization of approximately US$1
billion on an undiluted basis.
UraMin is currently focusing on the development of its advanced stage
exploration projects at Trekkopje in Namibia, Bakouma in the Central African
Republic and Ryst Kuil in South Africa. Through a South African joint venture,
UraMin also enjoys additional prospecting license applications for important
uranium deposits in the Karoo, South Africa. No assurance can be given that
remaining applications for the prospecting rights in the Ryst Kuil Channel of
the Karoo or elsewhere in South Africa will be successful.
FORWARD LOOKING STATEMENTS
This press release contains statements that are "forward-looking". Generally,
the words "expect," "intend," "estimate," "will" and similar expressions
identify forward-looking statements. By their very nature, forward-looking
statements are subject to known and unknown risks and uncertainties that may
cause our actual results, performance or achievements, or that of our industry,
to differ materially from those expressed or implied in any of our
forward-looking statements. Statements in this press release regarding the
Company\'s business or proposed business, which are not historical facts, are
"forward looking" statements that involve risks and uncertainties, such as
estimates and statements that describe the Company\'s Future plans, objectives or
goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date they are made.
The securities referred to in this release will not be registered under the
United States Securities Act of 1933 or the laws of any state and may not be
offered or sold in the United States absent such registration or an applicable
exemption from registration requirements.
For further information:
Ian Stalker Chief Executive Officer
Neil Herbert, Finance Director
Tel: +27 (0)11 783 5056
BMO Capital Markets
Elizabeth Wademan
Tel: +1 416 359 4241
Canaccord Adams Limited
Mike Jones
Robin Birchall
Tel: +44 20 7050 6741
Toronto
Steve Vaughan
Heenan Blaikie LLP
+1 416 643 6924
UK Media Enquiries
Financial Dynamics
Ben Brewerton / Ed Westropp
Tel: +44 20 7269 7279
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEIIFLAVFIDIID
For Related News, Double Click on one of these codes:
[RNS] [ENR] [EUROPE] [WEU] [GB] [REG] [LEN] [UMN.L]
For Relevant Price Information, Double Click on one of these codes:
Wednesday, 07 March 2007 10:19:36RNS [nRNSG4757S] {EN}ENDS
26.03.07 12:09
#15
biomuell
+ + + meine aktuelle Empfehlung, weil + + +
- weil im vergleich zu den (auch sehr billigen) Forsys nochmals significant billiger als die RSR- Rakete
- weil grösser (nach resourcen geschätzt 4 bis 5 mal grösser als Forsys) und aber nur 3 mal höhere Marktkapitalisierung !
- näher an der produktion als Forsys
- une HEUTE ist der Uranpreis wieder mal gestiegen von 90 auf 95 USD pro pfund
__________________________________________________
Uramin
Disclaimer : I take no responsibility whatsoever for any errors, bad conclusions, important facts missing etc that might affect my analyses and their readers in any respect, but I always try to keep the facts accurate, as well as the calculations with their usually simple mathematics. Sometimes even the companies analysed deliver false information which could be impossible to detect for me and many other interested parties. In general I trust the corporate information and use it for my analyses. The Future can´t be predicted 100 % and the stock market in particular is associated with considerable risks on the company level, but also on branch-, country- and world market level, implying that each person has to take their own full responsibility of the consequences of buying this particular stock.
Do your own due diligence !
2007 price target CAD 10-13
Uramin (UMN) is a near term uranium producer formed in 2005, but nevertheless with an experienced team and with respected mining industry persons on their board. Their CEO has a very long experience in the mining industry having been involved in the development of many mines from start to completion, including 5 mines in Africa which also is Uramin´s main target now. Uramin has near term uranium projects in mining friendly Namibia (where also Paladin`s Langer Heinrich mine is situated), Central African Republic and South Africa.
Uramin has a very big historic resource base of 236 million pounds of uranium, which should last around 14 years 2008-2021 with the current production potential, assuming an unchanged production level after 2011. Uramin has a clear potential for more resources. The discounted value now of the cash flow or profits from a possible additional production 14 years with mainly unchanged production rate though is a relatively small fraction of the corresponding value for the initial 14 years due to the very high nominal average uranium price expected for 2009-2015. The price average should normalize thereafter due to the higher supply from new production stimulated by the current high uranium price forecasts. The thus added production possibly could include Cameco´s huge but troubled/delayed Cigar Lake project that could account for around 5 % of world demand in 2012-2014, and maybe more after that. Therefore an additional uranium resource base from Uramin´s first three big projects than that covering the first 14 years of the commercial production phase should be of relatively small importance also to the theoretical Uramin stock valuation. (This is in some contrast to when valuating assumed long term steady growth companies where the discounted value of the initial let say 5-10 years of profits or cash flow often constitutes a relatively small part of the total theoretical company value thereby motivating a high p/e ratio. You might reflect that in that case the unknown far distant future earnings is of more vital importance in today´s stock valuation, compared to the Uramin case where the more near term years, and therefore likely more predictable years, matter significantly more thus resulting in a lower stock risk in this respect.)
Uramin though has a further uranium resource potential from exploration projects, in Canada, Chad, South Africa and Senegal, that could increase the long term production potential within resonable time. In Athabasca Basin in Canada Uramin holds an option to aquire 50 % of the Rea property owned by Red Dragon resources. In March 2007 Uramin and Waseco Resources announced a radiometric airborne survey based major new uranium discovery in Quebec Labrador Through in Canada. Uramin holds an option to earn 70 % of this project, and this might be the most obvious example where Uramin has a potential for additional stock value-adding uranium production, which though is not considered in this calculation. The possible uranium production should not commence before many years from now.
After a private placement in March 2007 Uramin had well over USD 300 million in cash, which will be used to carry out trial mining of the Trekkopje project and deliver feasibility studies for both the Ryst Kuil Uranium project in South Africa and the Bakouma Uranium project in the Central African Republic. Furthermore around USD 200 million will be used to advance the Trekkopje Project to commercial production. Hence there should be no need for further private placements within resonable time.
Uramin has recently communicated a new much higher production potential of 19 million pounds of uranium for 2011. That happens to be equal to the 2012 production potential described recently by sxr Uranium One just after their Urasia take-over. But the new sxr will have a diluted market capital of around CAD 6.8 billion compared to less than 30 % of that for Uramin at March 8 diluted market capital. Even if you compensate for sxr owning around 72 % of Aflease Gold as of Dec 2006, you find that position worth only around 2 % of the sxr Uranium One market capital. Neither could sxr having a relatively bigger resource base explain the huge valuation difference as hinted in the second paragraph of this analysis. There seems though reasonable to assume that Uramin will suffer from further stock dilution due to their capital costs for taking their second and third projects to commercial production. But even if you assume a huge stock dilution to 500 million diluted shares in Uramin, the market capital would be less than 50 % of that of sxr ! Thus it seems rather clear that Uramin still, also adjusted for risk differencies, most likely is much fundamentally undervalued compared to sxr Uranium One, as shown in this short but logical reasoning.
The Uramin commercial production phase is scheduled to begin with the Trekkopje project (Namibia), in the end of 2008, after the trial production period which will begin this year. Trekkopje has 46.5 million pounds measured & indicated och 59.3 million pounds inferred NI 43-101 compliant uranium resources. There is a potential for more, thereby extending the life of the mine even further. The Trekkopje project is recently estimated to have low uranium production costs of around USD 18 per pound uranium, due to a vanadium production credit. Uramin plans for an open pit mine at Trekkopje with a large scale (sodium carbonate/bicarbonate and ion exchange) heap leach process, with a mining rate of 100000 tons per day. Water consumption using heap leaching is substantially lower than with tank leaching. The process will require a water supply from a desalination plant of 12 million cubic meters per year. Uramin will try to share the construction costs of the desalination plant with other parties sharing the same plant, thus reducing their own costs. With around USD 640 million expected in yearly revenues from Trekkopje (with USD 80 uranium price) at full scale production (8 million pound per year) the yearly costs for the plant over its whole lifetime should be comparably low even if Uramin gets no partners, maybe around USD 15-30 million a year or so in my assumption. That corresponds to around 0.03 – 0.06 CAD/share after tax, of which I conservatively use 0.06 CAD/share as an additional cost in the calculation below.
I calculate with a Uramin 2010 uranium production of 16 million pounds. It is derived from the 8 million pounds in the Trekkopje project, 74 % share of (2.6-3) million pounds or around 1.9-2.2 million pounds from Ryst Kuil (South Africa) and 90 % share of 6.6 million pounds or around 5.9 million pounds from Bakouma (Central African Republic). The production potential of 19 million pounds for 2011 I for the moment just treat as a future possible bonus.
With 16 million pounds of uranium production in 2010, my assumptions of USD 80 uranium long term price average and costs of USD 25 per pound uranium produced, Uramin would get earnings of USD 572 million or CAD 664 million after an assumed 35 % tax (the tax rate not confirmed though) and with 1.16 CAD = 1 USD. There are 267 million UMN shares, plus warrants and options, but as in my analyses of other uranium near term producers like EFR, UPC, PWE and URE, I calculate with some additional dilution , in this case to 340 million fully diluted shares as a reasonable calculation base.
Earnings per share in 2010 then would be CAD 664/340 or around CAD 1.95. As stated above the costs for a desalination plant is estimated to reduce the earnings per share to CAD 1.89. If you study the Uramin Trekkopje report from Feb 2007 very carefully, you should find that just that project could account for more than half of my 2010 estimated earnings per share if you assume USD 80 uranium price.
Uramin, as one of the predicted biggest uranium producers in the world 2010-2011, should have a 2010 p/e-ratio between least 10 and 13 resulting in a UMN stock three year potential of CAD 18.90-24.60. If you discount that future UMN stock price potential with a rather high risk-weighted interest rate of 25 % per year, high for such a relatively big company due to assumed relatively high ( political et al) risk, you get a 2007 price target interval for UMN of around CAD 10-13.
The cautiously applied 25 % risk adjusted discounting interest rate then has reduced the 2007 price target interval for UMN by as much as 32 % compared to if applying a more normal 10 % discounting interest rate (which thus would have resulted in a 2007 CAD 14-18 price target interval i e significantly higher).
Hence I find the UMN stock price very attractive with a very fine risk/reward ratio, in spite of the recent big stock price gain. UMN should most likely have a much higher fundamentally based stock long term potential than, as explained above, one of my biggest uranium holdings last year SXR, and of the same (very big) order as some of my other uranium junior holdings EFR and PWE which on the average approximately could double until year this end as calculated in my analyses on http://www.loparn.com .
If the long term uranium price average, 2009-2018 will be expected to stay well above my current USD 80 calculation assumption , which then the stock price potential should be adjusted upwards accordingly. Theoretically though you might find that an even longer period of time than 10 years with higher uranium price average has to be assumed for implying fundamentally based increased stock price targets now, but the stock market often tends to be a little bit more shortsighted looking just a few years forward.
Anyone with other input data can, as always, change these figures easily and do their own rough, simple and I think very useful calculations for an absolute and relative stock valuation purpose.
www.loparn.com
- weil grösser (nach resourcen geschätzt 4 bis 5 mal grösser als Forsys) und aber nur 3 mal höhere Marktkapitalisierung !
- näher an der produktion als Forsys
- une HEUTE ist der Uranpreis wieder mal gestiegen von 90 auf 95 USD pro pfund
__________________________________________________
Uramin
Disclaimer : I take no responsibility whatsoever for any errors, bad conclusions, important facts missing etc that might affect my analyses and their readers in any respect, but I always try to keep the facts accurate, as well as the calculations with their usually simple mathematics. Sometimes even the companies analysed deliver false information which could be impossible to detect for me and many other interested parties. In general I trust the corporate information and use it for my analyses. The Future can´t be predicted 100 % and the stock market in particular is associated with considerable risks on the company level, but also on branch-, country- and world market level, implying that each person has to take their own full responsibility of the consequences of buying this particular stock.
Do your own due diligence !
2007 price target CAD 10-13
Uramin (UMN) is a near term uranium producer formed in 2005, but nevertheless with an experienced team and with respected mining industry persons on their board. Their CEO has a very long experience in the mining industry having been involved in the development of many mines from start to completion, including 5 mines in Africa which also is Uramin´s main target now. Uramin has near term uranium projects in mining friendly Namibia (where also Paladin`s Langer Heinrich mine is situated), Central African Republic and South Africa.
Uramin has a very big historic resource base of 236 million pounds of uranium, which should last around 14 years 2008-2021 with the current production potential, assuming an unchanged production level after 2011. Uramin has a clear potential for more resources. The discounted value now of the cash flow or profits from a possible additional production 14 years with mainly unchanged production rate though is a relatively small fraction of the corresponding value for the initial 14 years due to the very high nominal average uranium price expected for 2009-2015. The price average should normalize thereafter due to the higher supply from new production stimulated by the current high uranium price forecasts. The thus added production possibly could include Cameco´s huge but troubled/delayed Cigar Lake project that could account for around 5 % of world demand in 2012-2014, and maybe more after that. Therefore an additional uranium resource base from Uramin´s first three big projects than that covering the first 14 years of the commercial production phase should be of relatively small importance also to the theoretical Uramin stock valuation. (This is in some contrast to when valuating assumed long term steady growth companies where the discounted value of the initial let say 5-10 years of profits or cash flow often constitutes a relatively small part of the total theoretical company value thereby motivating a high p/e ratio. You might reflect that in that case the unknown far distant future earnings is of more vital importance in today´s stock valuation, compared to the Uramin case where the more near term years, and therefore likely more predictable years, matter significantly more thus resulting in a lower stock risk in this respect.)
Uramin though has a further uranium resource potential from exploration projects, in Canada, Chad, South Africa and Senegal, that could increase the long term production potential within resonable time. In Athabasca Basin in Canada Uramin holds an option to aquire 50 % of the Rea property owned by Red Dragon resources. In March 2007 Uramin and Waseco Resources announced a radiometric airborne survey based major new uranium discovery in Quebec Labrador Through in Canada. Uramin holds an option to earn 70 % of this project, and this might be the most obvious example where Uramin has a potential for additional stock value-adding uranium production, which though is not considered in this calculation. The possible uranium production should not commence before many years from now.
After a private placement in March 2007 Uramin had well over USD 300 million in cash, which will be used to carry out trial mining of the Trekkopje project and deliver feasibility studies for both the Ryst Kuil Uranium project in South Africa and the Bakouma Uranium project in the Central African Republic. Furthermore around USD 200 million will be used to advance the Trekkopje Project to commercial production. Hence there should be no need for further private placements within resonable time.
Uramin has recently communicated a new much higher production potential of 19 million pounds of uranium for 2011. That happens to be equal to the 2012 production potential described recently by sxr Uranium One just after their Urasia take-over. But the new sxr will have a diluted market capital of around CAD 6.8 billion compared to less than 30 % of that for Uramin at March 8 diluted market capital. Even if you compensate for sxr owning around 72 % of Aflease Gold as of Dec 2006, you find that position worth only around 2 % of the sxr Uranium One market capital. Neither could sxr having a relatively bigger resource base explain the huge valuation difference as hinted in the second paragraph of this analysis. There seems though reasonable to assume that Uramin will suffer from further stock dilution due to their capital costs for taking their second and third projects to commercial production. But even if you assume a huge stock dilution to 500 million diluted shares in Uramin, the market capital would be less than 50 % of that of sxr ! Thus it seems rather clear that Uramin still, also adjusted for risk differencies, most likely is much fundamentally undervalued compared to sxr Uranium One, as shown in this short but logical reasoning.
The Uramin commercial production phase is scheduled to begin with the Trekkopje project (Namibia), in the end of 2008, after the trial production period which will begin this year. Trekkopje has 46.5 million pounds measured & indicated och 59.3 million pounds inferred NI 43-101 compliant uranium resources. There is a potential for more, thereby extending the life of the mine even further. The Trekkopje project is recently estimated to have low uranium production costs of around USD 18 per pound uranium, due to a vanadium production credit. Uramin plans for an open pit mine at Trekkopje with a large scale (sodium carbonate/bicarbonate and ion exchange) heap leach process, with a mining rate of 100000 tons per day. Water consumption using heap leaching is substantially lower than with tank leaching. The process will require a water supply from a desalination plant of 12 million cubic meters per year. Uramin will try to share the construction costs of the desalination plant with other parties sharing the same plant, thus reducing their own costs. With around USD 640 million expected in yearly revenues from Trekkopje (with USD 80 uranium price) at full scale production (8 million pound per year) the yearly costs for the plant over its whole lifetime should be comparably low even if Uramin gets no partners, maybe around USD 15-30 million a year or so in my assumption. That corresponds to around 0.03 – 0.06 CAD/share after tax, of which I conservatively use 0.06 CAD/share as an additional cost in the calculation below.
I calculate with a Uramin 2010 uranium production of 16 million pounds. It is derived from the 8 million pounds in the Trekkopje project, 74 % share of (2.6-3) million pounds or around 1.9-2.2 million pounds from Ryst Kuil (South Africa) and 90 % share of 6.6 million pounds or around 5.9 million pounds from Bakouma (Central African Republic). The production potential of 19 million pounds for 2011 I for the moment just treat as a future possible bonus.
With 16 million pounds of uranium production in 2010, my assumptions of USD 80 uranium long term price average and costs of USD 25 per pound uranium produced, Uramin would get earnings of USD 572 million or CAD 664 million after an assumed 35 % tax (the tax rate not confirmed though) and with 1.16 CAD = 1 USD. There are 267 million UMN shares, plus warrants and options, but as in my analyses of other uranium near term producers like EFR, UPC, PWE and URE, I calculate with some additional dilution , in this case to 340 million fully diluted shares as a reasonable calculation base.
Earnings per share in 2010 then would be CAD 664/340 or around CAD 1.95. As stated above the costs for a desalination plant is estimated to reduce the earnings per share to CAD 1.89. If you study the Uramin Trekkopje report from Feb 2007 very carefully, you should find that just that project could account for more than half of my 2010 estimated earnings per share if you assume USD 80 uranium price.
Uramin, as one of the predicted biggest uranium producers in the world 2010-2011, should have a 2010 p/e-ratio between least 10 and 13 resulting in a UMN stock three year potential of CAD 18.90-24.60. If you discount that future UMN stock price potential with a rather high risk-weighted interest rate of 25 % per year, high for such a relatively big company due to assumed relatively high ( political et al) risk, you get a 2007 price target interval for UMN of around CAD 10-13.
The cautiously applied 25 % risk adjusted discounting interest rate then has reduced the 2007 price target interval for UMN by as much as 32 % compared to if applying a more normal 10 % discounting interest rate (which thus would have resulted in a 2007 CAD 14-18 price target interval i e significantly higher).
Hence I find the UMN stock price very attractive with a very fine risk/reward ratio, in spite of the recent big stock price gain. UMN should most likely have a much higher fundamentally based stock long term potential than, as explained above, one of my biggest uranium holdings last year SXR, and of the same (very big) order as some of my other uranium junior holdings EFR and PWE which on the average approximately could double until year this end as calculated in my analyses on http://www.loparn.com .
If the long term uranium price average, 2009-2018 will be expected to stay well above my current USD 80 calculation assumption , which then the stock price potential should be adjusted upwards accordingly. Theoretically though you might find that an even longer period of time than 10 years with higher uranium price average has to be assumed for implying fundamentally based increased stock price targets now, but the stock market often tends to be a little bit more shortsighted looking just a few years forward.
Anyone with other input data can, as always, change these figures easily and do their own rough, simple and I think very useful calculations for an absolute and relative stock valuation purpose.
www.loparn.com
26.03.07 14:00
#16
biomuell
tippe auf einen baldigen AUSBRUCH
WENN die Gesamtmärkte nicht einknicken.
26.03.07 16:17
#17
kikeriki
Ausbruch
wobei zu berücksichtigen ist, das die Akte schon einen schönen Lauf hinter sich hat. z.Zt etwas ausgebremst wg. der Plazierung neuer Aktien?!
26.03.07 16:51
#18
biomuell
stimmt der Lauf der Aktie
in den letzten Monaten war schon beträchtlich!
26.03.07 16:54
#19
ecki
Hallo Leute mal ne Frage
Gibts eigentlich nen Uranpreischart oder Index?
Ich will keine Aktie, mir geht es nur um die langfristige Entwicklung vom Uranpreis direkt.
Danke vorab für ein Kürzel.
Ich will keine Aktie, mir geht es nur um die langfristige Entwicklung vom Uranpreis direkt.
Danke vorab für ein Kürzel.
26.03.07 18:33
#20
biomuell
Uran chart
http://www.kitcometals.com/ (links mitte)
http://www.uxc.com/review/uxc_Prices.aspx
beide aber noch vom letzten Fixing (19 Marz)
aktueller beitrag zum neuen Uranpreis (95 USD per pound):
http://www.stockinterview.com/News/03252007/...anium-Stock-Index.html
http://www.kitcometals.com/ (links mitte)
http://www.uxc.com/review/uxc_Prices.aspx
beide aber noch vom letzten Fixing (19 Marz)
aktueller beitrag zum neuen Uranpreis (95 USD per pound):
http://www.stockinterview.com/News/03252007/...anium-Stock-Index.html
26.03.07 18:50
#21
biomuell
+ 5 % in Canada - wo eben die 6 CAD grenze
alles darüber könnte schon der Ausbruch sein.
26.03.07 20:17
#22
biomuell
nicht schlecht zu Börsenschluss in FRA + 4,5 %
und eben die 6 CAD in Canada geknackt ! + 6,36 % - könnte der Ausbruch sein (dann sollte es einen netten Up-move geben.)
26.03.07 22:32
#23
biomuell
URAMIN : Forsys geht heute klar an Uramin
nicht nur ganz klar in Deutschland, sondern mit einem Plus von fast 8 % auch in Canada.
Nettodifferenz rund 10 % in FRA und CANADA.
1:0 für Uramin
Nettodifferenz rund 10 % in FRA und CANADA.
1:0 für Uramin
27.03.07 00:25
#24
ecki
Danke biomuell
Aber einen "normalen" uranpreisindex wie den Kupferpreis oder ölqualitäten gibt es nicht?
Aber das hier ist schon ein Anfang. Langfristiger und dann immer aktuell war das was ich suchte.
Aber das hier ist schon ein Anfang. Langfristiger und dann immer aktuell war das was ich suchte.
27.03.07 18:12
#25
biomuell
2:0 für URAMIN, welches sich heute gut hält
gegenüber Forsys, Powertech und anderen...
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