OMC - Omegacorp Limited

[mmmmining]

There is a video from ROBTV In the slot of Tue/4:45 PM ET
http://www.robtv.com/shows/past_archive.tv?day=tue

DEN.TO's CEO said "Wait and See.... Only time will tell" when asked about whether the premium is enough to win over other shareholders.

Look, even DEN.TO is not sure that the price is high enough, How could OMC board recommend it to us? What a joke.

 

[afroboy]

Denison obviously know about potential upgrades to the resource estimate at Kariba, but this is the first I have read of them acknowledging it. Hopefully there are other companies out there also aware of Bungua's (or Dungua's, hehe) potential...

I guess we'll all know in January when drilling results are released

MERGER - Denison to absorb OmegaCorp

TORONTO - DENISON MINES has announced its takeover plans for OMEGACORP of Australia. Omega has a portfolio of uranium projects in southern Africa, including the advanced stage Kariba project in Zambia.

Omega holds a 100% interest in the Kariba project, 200 km south of Lusaka. A resource estimate (not NI 43-101-compliant) of the Mutanga and Dibwe areas is 16.4 million tonnes grading 0.038% U3O8 or 13.7 million lb. A third area of mineralization, named Dungua, has also been identified. A scoping study of the project indicates that a mine could produce 1.5 million lb of U3O8 annually at an initial estimated cost of US$23/lb. With a mining rate of 2.0 million t/y, the project would have a life of between six and 10 years, and Denison believes there is the possibility of increasing the resources and mine life. The conceptual flowsheet includes milling, scrubbing, alkali leaching and CCD processes.

Denison is offering A$1.10 for each issued and outstanding share of Omega, making the deal worth A$170 million (Cdn$154 million). Directors of the Australian company have indicated that they will unanimously approve Denison's offer, and they have further agreed not to solicit other offers.

The bid implementation agreement is available at www.Sedar.com. Find the "Other" document posted by Denison on Dec. 5, 2006.

From: http://www.canadianminingjournal.com/issues/ISArticle.asp?id=63177&issue=12102006

 

[mmmmining]

The board and the company has give away another present to the Canadians for taxation problem. I would not mind paying tax by Canadians or by myself for some free shares. I don't know why the board think it differently.

Now you don't have the free share for the NuCo, you have to pay for it through priority offer. The NeCo doesn't not have the uranium right after I carefully read it. What a joke!

 

[dutchie]

I bet the directors are making more than $1.10 out of their shares!!!

Why would you close the door to other bids??????

More than a joke mmm'g - its a scandal and ASX should look into it.

A Christmas present to the directors and Denison.

Cheers

Dutchie

 

[bigt]

OK, any reason I should keep holding these? Haven't moved in weeks,whilst other opportunities are going by...are we due any key results soon / or is this going to stagnate until the buyout is finalised...if so..any ideas when this may be?

 

[mmmmining]

OK, any reason I should keep holding these? Haven't moved in weeks,whilst other opportunities are going by...are we due any key results soon / or is this going to stagnate until the buyout is finalised...if so..any ideas when this may be?

I am out of it completely at 1.155, and 1.13 a few weeks ago, and reinvest the money on other uranium stocks.

I guess holders is hoping a very good drilling result, and DEN will increase the offer when institutions refuse to accept current offer.

 

[afroboy]

I've sold half. Keeping half to see if anything happens.

What other U stocks did you go for ?

 

[mmmmining]

I've sold half. Keeping half to see if anything happens.

What other U stocks did you go for ?

We are at stage of crazy speculation on uranium. Choose a bunch of uranium stocks randomly could beat any highly paid in depth research. Just close your eye.......

 

[afroboy]

I feel most Uranium stocks are definitely fully valued at the moment, but am just trying to get a feel for which will be the best ones to go for when the opportunity arises. ie. when 3-mine policy is defnitely changed, significant market correction, etc.

 

[Joe Blow]

I feel most Uranium stocks are definitely fully valued at the moment, but am just trying to get a feel for which will be the best ones to go for when the opportunity arises. ie. when 3-mine policy is defnitely changed, significant market correction, etc.

Lets keep this thread to discussion about OMC.

We already have a thread on uranium stocks. Perhaps this should be discussed there.

 

[mmmmining]

How can you have targets statement a week ahead of Bidders Statement? As an ex-shareholder, I may not have the right to question the board's integrity. But it makes me LOL.

 

[nizar]

A bit of movement today.
Upto 1.20 and 1.19 last.

There was a 130k buy at 1.15 in the morning.

Hasnt traded at these prices EVER.

A counter bid perhaps?

PDN to have a go after missing out on SMM??

 

[nizar]

Hmmm a bit of a run this morning.
All the time highs now.

I wonder what this stock would be trading at if the takeover never happened....