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URA - Uran Limited

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YOUNG_TRADER

YOUNG_TRADER

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New Uranium focused company,

Previously GWE, recently changed name to URA

Definately a case of back the man as Michael Kiernan has jumped on board, also Kate Hobbs who was on the board of HMR and through her contacts established the relationship with Mega Uranium who evetually did the takeover,

Only 35m shares and 25m options on issue,

@ 25c = a mkt cap of $15m very undemanding for a company lead by Mr Mick K.

I think its worth a spec punt purely on those two execs make up your own mind,

Cheers
 
Hi YT,

well you've got me interested in this one and that board looks impressive, but info on the projects they have acquired is hard to find especially since they giove no clues in their announcements. Do you have any idea of the details of the projects?

cheers

Juddy
 
Well YT you have certainly got me interested so I have done some research. Here are the conclusions I have drawn:

GWE obviously took Kiernan and Hobbs on board because not only are they notable figures in the mining and uranium industry, but because of the contacts they (especially Kiernan) have made during their careers plus the credibility they may present when dealing with foreign governments. One media article states, “His (Kiernan) ties with government people there produced leads to potential operating or idle uranium operations. And those same contacts are out there "shaking the trees" for others” (1). From the same article, the writer mentions, “The latest of these opportunities came from his work at ConsMin finding new markets for manganese in Ukraine, Georgia and other parts of the old Soviet Union”.

There has been talk on other share sites about Kazakhstan being ‘the’ country as it has many deposits and mines, but Kazakhstan is located in Asia and media releases make it known that at least “one deposit as being in "an eastern European country", the other in "a former Soviet republic". (1) Furthermore, in the initial announcement CEO of GWE Tom Bannerman stated, “Great Western is currently reviewing two potential advanced uranium production projects in Eastern Europe and we expect to secure exciting growth assets that will fundamentally change the direction of the Company.” (3) These releases also assert that the potential acquisitions are in countries where Kiernan has conducted business with CSM (I am yet to find a link between CSM and Kazakhstan in my research). I believe this presents further evidence that Kazakhstan is not a likely target.

Out of Georgia and Ukraine, the former has no known U deposit (2) which, in my opinion, leaves Ukraine as the “former Soviet republic"(1). The announcement by GWE (3) states, “The core of the Company’s new growth strategy will be to acquire existing uranium production and mining operations or exploration projects with near-term production potential”. Ukraine does have a number of projects that fit these categories.

Mining and milling of uranium in Ukraine is the jurisdiction of the state–owned Vostochny Integrated Mining and Concentrating Plant (VOSTGOK ). They have ownership of the Ingul’skii mine (27,000t), the Valutinskii mine (25,500t), the Severinskoye deposit (50,000t) and the new Novokonstantinovsk (Nov) project. The Nov project in particular is one of the most exciting in the country. One site states “The most important reserve to cover needs of local atomic power stations is the Novokonstantinovskoye deposit. Its reserves are twice as high as those of the operating mines. Besides the ore quality here is much better.” (6)

These are exciting times for uranium production in Ukraine. In March 2006 Vostgok announced plans “to boost uranium production by 120% between 2006 and 2010, raising the amount of uranium it provides to the country’s nuclear power plants from 32% to 71%”(4). Added to this, “The Company believes that improving the Novokonstantinovsk field project could lead to a 520% increase in production, which would enable Ukraine to meet its domestic nuclear fuel requirements as well as export uranium.” (4)

These deposits seem to be attracting interest outside Ukraine. Russian companies (5), in particular have expressed a desire to participate in a JV development of the Nov deposit. The Vice President of TVEL when questioned about possible cooperation in the Nov deposit stated; “The ball currently is in the Ukrainian side. The deposits themselves as regards their climate, location, uranium contents look more attractive than many Russian or Kazakh (deposits).” (5)

In addition, during March 2006 VostGOK asserted they would be “searching for ways to increase VostGOK funding” (4) . The question is does URAN fit into any of these plans? If the state owned VostGOK is willing to deal with the publicly listed Russian company TVEL, is it possible they would deal with an Australian company headed by some big names?

Now what about the “eastern European country” ? (1) In Slovakia, the Tournigan Gold Company (Canadian) is assessing the Jahodna deposit (7) which has an inferred resource of 7000 tonnes at 0.56% U. Estimated development cost is in the order of US12.5m. As Tournigan is primarily a gold company is it possible they are looking for a partner for the project? Tournigan also have ownership of Novoveska Huta Deposit of 6527t U (inferred) at 0.064% U; the Svabovce deposit 2396t (indicated – inferred) at 0.19% U; and the Spissky Stiavnik deposit, 433t (indicated - inferred) at 0.17% U 8.

Romania may be a possible candidate with three mines operating. The first two; Avram Iancu mine (Bihor, Apuseni Mountains) and Dobrei South mine (Banat Mountains) are on the verge of being shut down (depletion) and are therefore unlikely to be acquired (8). The third; the Crucea mine (East Carpathians) (9) is in operation and is run by the state. Romania does not import or export uranium (9). On the basis of this evidence it is unlikely URAN is looking at Romanian deposits or projects.

The final country which falls into the “eastern European” category that has uranium deposits or mines is the Czech Republic. However many of these sites are in the process of being decommissioned as are other sites within these eastern bloc countries and again I feel it is unlikely these will be acquired by URAN. (8)

On the basis of research and the evidence I believe that the deposits and mines within Ukraine and Slovakia are the most likely candidates for attention by URAN. I certainly won’t discount the possibility of Kazakhstan being a candidate as they certainly are very liberal toward foreign entities (10) controlling mining and they have a significant number of U deposits. I just can’t find a link between Kiernan and Kazakhstan and the discourse in media releases particularly the statement by Tom Bannerman makes me think Kazakhstan is not the target.


Of course I could be completely wrong. I guess we will find out in the near future. Any opinions?


References

(1)http://www.theaustralian.news.com.au/story/0,20867,19027551-643,00.html
(2) http://www.wise-uranium.org/indexu.html
(3) http://www.gwel.com.au/040506a.pdf
(4) http://www.world-nuclear.org/nb/nb06/nb0613.htm
(5) http://www.tvel.ru/en/press/interview_topmanagers/
(6) http://www.madeinua.info/view.aspx?type=ja&lang=2&jaid=208
(7) http://www.tournigan.com/i/pdf/Jahodna-Prelim_Assessment-hi.pdf
(8) http://www.wise-uranium.org/uoeur.html#UA
(9) http://www.unece.org/env/epr/studies/romania/chapter10.pdf
(10) http://www.resourceinvestor.com/pebble.asp?relid=13271
 
Hi Juddy, glad you agree with me,

As stated this is definately a 'back the man' punt for me, with Kiernan and Hobbs (she is very connected with Canandian Uranium Majors)

Such a small mkt cap ($20m) with such great management should see any ann of project acquisition take this share price to the roof, also opportune timing being the 2nd uranium boom and all, should magnify its rise
 
YOUNG_TRADER said:
Hi Juddy, glad you agree with me,

As stated this is definately a 'back the man' punt for me, with Kiernan and Hobbs (she is very connected with Canandian Uranium Majors)

Such a small mkt cap ($20m) with such great management should see any ann of project acquisition take this share price to the roof, also opportune timing being the 2nd uranium boom and all, should magnify its rise
Click to expand...


The connection with Canada signals to me the Tournigan gold company deposits in Slovakia may be a target.

Their assessment of the Jahodna deposit makes for interesting reading. http://www.tournigan.com/i/pdf/Jaho...sessment-hi.pdf
 
Mkt doesn't seem to be that impressed with its projects that its acquired,

For a Uranium company operating in Europe, led by M Kiernan, and K Hobbs (Former MD Hindmarsh) with a mkt cap of $20m or so seems undervalued
 
I've been accumulating these for a while now and think they have a very big future. Each time I have doubts I go to their website www.uranlimited.com.au and check out the makeup of the board. As you say YT, the make-up of the board and the m/c just don't gel.

It's also good to see they have immeditaley updated the site with the latest projects too. The details weren't on there last night. They do need to update the Top 20. Kiernan and his son now hold 54% of URA.
 
This company has a huge future it has excellent management and overseas contacts,and with only 36 mill shares on issue (excluding options which are around 3 years away) the recent annoucements are just the start of the growth and expansion stage this company will have going foward. The Uranlimited website has alot of specific details about the future projects and stratergies including also possible USA uranium acquistions. It is not that the market was not impressed with the recent annoucements but it is thinking what will Uran be acquring in terms of volumes/grades and how long is the timeframe the market is inpatient most of the time.Uran will be producing uranium you would think before any australian based uranium company will be allowed to produce by the goverment,current mkt cap is a ludicrous 10mill based on the huge future potential a 50-80 mill cap would be a low and conservative number regards Ranny
 
Re: URA - Uran Limited Newspaper Article

Uran Limited is fast tracking its goal to become a uranium producer this is a extract from Saturdays The Australian Newspaper Business Section 2/9/06.Kate Hobbs MD of Uran was busy this week getting a new passport and visas for a business trip to Uzbekistan and Ukraine.Her plans are to catch the present uranium boom not the next one,she says she has found projects begging for a home ones with massive volumes of exploration data.This represents savings of several millon dollars in exploration work and puts development start ups in terms of months rather than years.With uranium at $50 a pound which translates into $100000 a ton there can only be a massive future ahead for Uran Limited. Regards Ranny
 
Someone bought alot of opies at 20c about 400,000 so thats $80k when they could have bought stock at 30-33c but the volume wasn't on offer,

They effectively paid a price for opies which would require stock pice of 40c to make sense (20C OPIES WITH 20C EXERCISE)
 
I smell something in the air over here,

It could just be positive sentiment overall, or it could be an update re their Uranium plans,

Still very small mkt cap and chaired by some amazing people being K Hobbs (Ex HMR director) and M Kiernan (needs no introduction)
 
Yep, something fishy I reckon. Not sure why the volume switch doesn't work on this chart. I imagine increased quite a bit recently along with the sp. Hmmmmm.
 

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Re: URA - Uran Limited Going going to blue sky above

Very interesting shares and options activity this afternoon in near term future uranium producer Uranlimited regards Ren
 
I hate to ask a really dumb question but how much uranium has URA actually found to justify the share price? (Is it a round number?)

Note: The best management in the world can't change what nature provides.
 
All the details about future projects are at Uranlimited.com.au the potential of aquiring close to or producing uranium mine/s is more than enough to increase share price much higher especialy with a low market cap of 14mill.Most if not all australian uranium companys will not become producers for at least 2-3 years if they find something worthwhile, that is why managment has gone offshore to where uranium mining is allowed and placed the company way ahead of the game in terms of incoming revenue and the growth and expansion of the company going into the future. regards Reni
 
Vainglorious said:
I hate to ask a really dumb question but how much uranium has URA actually found to justify the share price? (Is it a round number?)

Note: The best management in the world can't change what nature provides.
Click to expand...


Last time I checked about the same as TOE, UNX, GBE and quite a few other speccies :rolleyes:
 
YOUNG_TRADER said:
New Uranium focused company,

Previously GWE, recently changed name to URA

Definately a case of back the man as Michael Kiernan has jumped on board, also Kate Hobbs who was on the board of HMR and through her contacts established the relationship with Mega Uranium who evetually did the takeover,

Only 35m shares and 25m options on issue,

@ 25c = a mkt cap of $15m very undemanding for a company lead by Mr Mick K.

I think its worth a spec punt purely on those two execs make up your own mind,

Cheers
Click to expand...

Oh please! When will those who post on this forum (and other fora) learn that that there is no "a" in the word "definitely"? Never has been, never will be. Regards YN.
 
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