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« Uranium: Spot price $85/lb | Main | India: To catch the Nuclear Bus »

UraMin Mark Two: Niger Uranium

Niger Map 03sep07

Niger Uranium, a new uranium company is to be floated on the London Stock Exchange for around £40 million on 13th September 2007 according to Britain’s The Telegraph.

This company is a joint venture between Northwestern Mineral Ventures of Canada and UraMin who were recently bought by the French giant Areva. UraMin began life on London’s AIM Exchange when it was floated for around £120 million to be taken out for £1.2 billion recently. The report goes on to say, UraMin's management is now running Niger Uranium, which has eight licences in Niger and began drilling in June. It is some distance off producing uranium.”

The eight licenses are Irhazer, In Gall, Damas 1 to 4 and Dabala 3 and 4 and cover an area of 6,773 square kilometres.

Northwestern Mineral Ventures trades on the Toronto stock Exchange under the symbol NWT at around $0.70, and OTCBB as NWURF.

Please be aware that Northwestern Minerals has undergone a name change as is now known as NWT Uranium Corp

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Reader Comments (2)

NWT also has a JV with Azimut as well as an option for a gold and silver paly in Mexico. The drills are turning on the North Rae project in Canada as well as Niger. I have always been impressed with the management team of NWT. Ian Stalker of UraMin obviously has a brillant track record. For the above UraMin licenses' told be left out of the Areva deal leads me to believe perhaps the best was saved for last. NWT has no intention of becoming a producer according to CEO Kreczmer. So,at some point Niger Uranium Ltd. may go the way of UraMin provided they have good drill results. I backed the truck up on NWT last year when the price was $.30 and lower. Last month during the global subprime melt down NWT hit a %.61 fibanocci low of $.48. Niger pre-rainy season drill result are expected shortly and the drills will resume after the rain. Once again, even @ $.70 a great opportunity exist for those keeping a sharp eye on this play.

September 3, 2007 | Unregistered CommenterRobert

Robert, Very interesting - thank you.

September 3, 2007 | Unregistered CommenterUranium Stocks

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