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« Fronteer Development Group: Up 7% today | Main | UraMin Inc: Bid $7.75 from Areva »
Monday
Jun182007

UraMin Inc: Where are the rival bidders?

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We made a few calls this morning to our contacts in London as UraMin is also traded on the London Stock Exchange.

We thought that Uranium One who also have interests in Africa might be interested as gaining control of UraMin Incorporated might offer ‘economies of scale’ and all the other usual benefits that predators trot out when they are in hunting mode. But alas we have nothing to report only the usual uncorroborated rumblings that emanate from the office coffee machines. At a guess we would have put Rio Tinto as favourites to challenge if not out bid Areva. However, you have to hand it to the French they are displaying more vision than the others by making this move to secure uranium for their future needs.

The question now is: Should we cash in and go or stick around to see what develops? Being of a curious nature will we stick around, as we are by no means certain that it is all over just yet?

Scanning the list of uranium stocks it was nice to see most of them dabbled in green for a pleasant change. We also noted that that Ur-Energy (TSE:URE) was up 8.26% and wondered whether it was up on merit or because it sounds like UraMin and someone has hit the wrong button! If it falls back today someone, somewhere has just lost his Christmas bonus.

Have a good one!

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Reader Comments (1)

I was asking myself the same question. I get the feeling from the Uramin website that it is virtually a done deal.
Should i sell should i hold on?

At the moment i have decided to hold on

a) because there might be a rivel bd.
b) Uramin states that it will declare a dvidend to cover its holding of Niger Uranium
( From Neil Herbert, Finance Director)
'Concurrently with the closing of the proposed offer, UraMin will declare a dividend payable in shares of the capital of Niger Uranium Limited held by UraMin (where permitted by law) or a cash equivalent of the value of such shares. Further details will be provided at the time of the mailing of UraMin Directors' Circular.'

I have no idea what such a dividend is worth.

I think SXR has enough on its plate with its recent takeovers. It will have to consolidate.

June 19, 2007 | Unregistered CommenterIan McGlone

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