UraMin Inc: Bid $7.75 from Areva
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Topic: Uranium Mining Stocks — June 15th, 2007
According to the TSX UraMin Incorporated have received a bid from Areva to acquire the company for through a cash offer of $7.75 per share.
This offer represents a premium of 21% over UraMin 20-day average share price. The UraMin Board of Directors are fully supportive of the bid and Lock-up agreements in respect of approximately 25% of shares are now in place.
Well it now looks like a done deal so the excitement of a battle with rival suitors is not to be – shame, we have just re-stocked the drinks cabinet.
So where does that leave us? Just to recap we bought into UraMin on the 15th May 2007 for $6.72 so we have a profit of $1.03 or a gain of 15% in 4 weeks.
As one of our readers has just pointed out we are not here to fall in love with any particular stock we are here to make money and 15% in 1 month will have to do. However, this does look like a scoop for Areva as we thought UraMin was worth a lot more.
UraMin Inc: Up 11.51% yesterday, It’s Game On!
UraMin Inc: Where are the rival bidders?
UraMin Mark Two: Niger Uranium
Khan Resources Inc: An upside breakout!
UraMin Inc: In talks to sell the company
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PS: We have not sold yet as things are never always what they first appear to be - be patient and watch while this situation unfolds.
Comment by Uranium Stocks — June 15, 2007 @ 2:19 pm
PPS: UraMin puts on another 7.05% - so maybe there is a little more gas in the tank!
Comment by Uranium Stocks — June 15, 2007 @ 3:04 pm
Uramin’s joint venture partner (NWTMF)is having a good day as well.
The Niger claims are not part of the Areva deal. Apparently the goverment of Niger wants diversification of uranium explorers in their country. The new UraMin will be this jv. NWTMF on the AMEX and NWT on the TSX are up %45 as I write.
This is without drill results. Yowsers Inspector Gadget.
Comment by robert — June 15, 2007 @ 6:17 pm
UraMin now up 11.08% or 88 cents on a turnover of 25 million shares.
Comment by Uranium Stocks — June 15, 2007 @ 6:54 pm
Robert,
If you are holding NWT - well done! A spectaculr hit in just one day.
Comment by Uranium Stocks — June 15, 2007 @ 6:56 pm
Yes,as I stated previously, I started buying this stock at $.35 Americano,and buying more on pullbacks. It is my understanding the UraMin team are going to drill the Niger property before the rainy season starts and the Northwestern Mineral Ventures team will head back to Canada to work on their prospect in North Rae and elsewhere. Tallyho, me thinks me spotted a radioactive fox!!!!
PS: the stock NWTMF has cooled down to %35 from %45 as I write. Profit takers no doubt.
Comment by Robert — June 15, 2007 @ 7:15 pm
You can’t really blame them on a day like this.
Comment by Uranium Stocks — June 15, 2007 @ 7:20 pm
Heck no, no blame here, this gives others an opportunity to buy the pullback. I have total faith in these two company’s team. And I surmise they they share that same faith as well. So no matter what the name of this new JV becomes , a rose by any other name is still a rose.
Robert
Comment by Robert — June 15, 2007 @ 7:34 pm