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Uranium IPOs - upcoming and recent

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56gsa

56gsa

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Have listed upcoming u3o8 IPOs I am aware of - feel free to add/amend... also at bottom is list of some u3o8 IPOs in last year


Company Mantra
IPO 32m @ .20 +.20 opt (30-6-09) 1 for 2 basis
priority offer to: OMC, 1 for 6 up to 22m shares
Closes ? 27 Sept
U3O8 asset Tanzania

Company Thor
IPO 50m @ .20 + .20 warrant on 1:2 basis
priority offer to: BTV 30m reserved for SH with min 10,000 BTV @15Aug
Closes 8 Sept
U3O8 asset Hale River and others in NT

Company UraniumSA
IPO tba
priority offer to: MTN & Stellar Resources
Closes end of the year
U3O8 asset JVs with MTN and Stellar
___________________________________________

u3o8 IPOs in last year:

IPO High Day 1 High alltime Current
TOE 0.25 1.60 1.60 0.76
UTO 0.20 0.82 0.82 0.44
UXA 0.20 0.15 0.54 0.37
VUL ? 0.51 1.69 1.50
 
isnt it nice to see all the big gains there

not long after toro a company called Aura Energy floated; ASX code: AEE

and they say all U floats go up??
 
Now is the time to be wary of Uranium floats as the price of U goes higher! YRR was cancelled because lack of support the big U word cannot mean success anymore of a IPO float :2twocents

cheers laurie
 
laurie said:
Now is the time to be wary of Uranium floats as the price of U goes higher! YRR was cancelled because lack of support the big U word cannot mean success anymore of a IPO float :2twocents
cheers laurie
Click to expand...

Can you expand Laurie - I would have thought U price going higher made floats more appealing. Perhaps the quality of IPOs is dropping off now, and this means less interest?
 
I think what Laurie is trying to say is that while all ships float on high tide, now seagoers are more wary about which ships they choose to board,

In english at the start anything with a hint of Uranium would rocket, now people having being burnt are looking for quality,


Mantra looks like a 200% premium opener, I have put in 6 subscriptions from my many different accounts, it looks ver impressive
 
YOUNG_TRADER said:
Mantra looks like a 200% premium opener, I have put in 6 subscriptions from my many different accounts, it looks ver impressive
Click to expand...

It does look very impressive, but doesnt it worry u that the float date is very close to "red" october?

I do have some, but i didnt go sick because of that...
 
nizar said:
It does look very impressive, but doesnt it worry u that the float date is very close to "red" october?

I do have some, but i didnt go sick because of that...
Click to expand...


Precisely, Red October starts in October and is preceded by 2 weeks of mad/insane rises,

So hopefully as its listing on the 27th being the last Wednesday in Sept, we will get a very nice premium being part of the hype,

In anyevent, its mkt cap is going to be so low at the 20c IPO price ($7m or so) that it will be a pretty safe bet, but nothing is a certainty,

lol 'didn't go sick' your young Niz you've always gotto go sick re! :D
 
Uranium SA certainly is winning the PR coverage out of these three IPOs. Any new mines are much more likely in SA or NT given the lack of alternative resource development compared to QLD, WA. Thor is looking at NT. Happy IPOing!

Uranium Wars – Consolidation in South Australia
FN Arena News - September 06 2006

By Greg Peel

The story so far:

Australia boasts 36% of the world's known uranium reserves. Number two is Kazakhstan with 14%. Canada has 13%. Canada produces most of the world's uranium at present – 11,600t last year, compared to Kazakhstan at 4,500t.

Australia only produced 9,000t by comparison, because permission to mine uranium is granted not by a pro-uranium federal government, but by each individual state. Since the anti-nuclear movement of the 70s and 80s Australian states have been reluctant to allow uranium mining.

18% of Australia's uranium lies in the federally-controlled Northern territory, home to vast deposits at Ranger and Jabiluka. Ranger is currently operating and Jabiluka is targeted to replace Ranger in about 2014, assuming permission is granted by the indigenous traditional owners. Both are owned by the world's second biggest uranium producer, Energy Resources Australia (ERA), which is the only pure-play uranium stock listed in Australia that is mining Australian uranium. Even then, ERA is majority owned by Rio Tinto (RIO).

(Australian listed stocks nevertheless include those with foreign interests, such as Paladin Resources (PDN) which is about to commence mining in Africa).

7% of Australia's uranium lies in Western Australia and 3% in Queensland. Both states are against uranium mining at present. Of the two, Queensland seems the most likely to yield. This has sparked a battle over significant reserves at Valhalla, where an attempt to sell Valhalla Uranium (VUL) to Paladin Resources is being presently challenged in court by joint venture partner Summit Resources (SMM).

South Australia had previously lifted its ban on uranium mining, which is fortuitous as that state boasts 72% of Australia's reserves. South Australia is home to the world's largest uranium deposit, Olympic Dam, owned by diversified resource giant BHP Billiton (BHP). Olympic Dam is being mined presently, but plans are afoot to triple production.

South Australia is also home to Australia's only other operating mine, Beverley, which is owned by Heathgate Resources, a full subsidiary of US company General Atomics. And it is home to nearby Honeymoon, owned by Canadian company SRX Uranium One, which has just been given approval to proceed to mining.

Now on to new developments.

UraniumSA is a single-purpose uranium company. It was formed with the collaborative assistance of two Australian listed mining companies - Stellar Resources (SRZ) and Marathon Resources (MTN). Through joint venture arrangements UraniumSA controls 7,638 square kilometres of the highly prospective Gawler Craton in South Australia.

On September 4, UraniumSA announced an IPO initially worth $6 million. Two-thirds of the listing has been offered to existing Stellar and Marathon shareholders on a priority basis. The listing is expected to take place in October but were the offer to be oversubscribed a total of 61.2 million shares can be issued at 20c, bringing total capitalisation to $12.24 million.

UraniumSA's corporate strategy is stated as:

"Mineral exploration is the first component of a business activity that expends capital to discover and then develop mineral deposits that are capable of being profitably exploited. Recognising this, and to optimise the companies [sic] ability to achieve long-term commercial success, our Board is dominated by independent directors who bring a diverse range of business, financial, commercial, technical and entrepreneurial skills to the company."

UraniumSA's primary objective is to have a portfolio of projects with positive exploration results, drill-indicated resources of uranium mineralisation, and real possibilities for mine development, within two years.

The list of independent directors makes for interesting reading given the history of a particular Mr Xu Gang. Xu Gang is a uranium geologist who worked for the Chinese National Nuclear Corporation (CNNC, the sole uranium buyer in China) for more than 9 years. Now based in Beijing, and working regularly in Perth, he has "successfully developed a comprehensive business network in China and Australia and established connections with government agencies at various levels".

Working with the Perth based consultancy and project management group Sustainability, Xu represents CNNC in Australia. In this role, he facilitated the signing of the first development and off-take agreement between an Australian uranium company and CNNC. He also maintains "a good working relationship" with Chinese nuclear power companies.

In April, the Australian government signed a deal with China which sees Australia as China's preferred source of uranium. Exports are not expected to begin for another three years but by that time Australia will need to have seriously ramped up production – to double its size just to meet China's needs.

Where will this uranium come from? Well Olympic Dam is about to undergo massive expansion, but the program is set to run over several years. Beverley is operating and Honeymoon is about to start. Ranger is on the decline, so ERA is madly exploring prospects around the immediate vicinity. The plan as yet is not to bring Jabiluka on stream until Ranger is on the wane, and there still remains the problem that traditional landowners can block development. Jabiluka is situated in the World Heritage-listed Kakadu National Park.

The current Western Australian government has definitively said No. It has grave concerns that the federal government's "cradle to the grave" plans – whereby spent uranium is returned to Australia for reprocessing or storage in order to prevent it being used for anything sinister – will turn the state in to a nuclear dump.

The current Queensland government has less definitively said no based on ridiculous, trumped-up stories about destroying the coal industry. Coal industry unions are driving the government's stance. The government has hinted, however, that if the federal Labor opposition reviews its "no new mines" policy at its annual conference in April, things could possibly change. This is what's caused a bit of a scramble among Queensland miners and hopeful investors.

Apart from needing to increase uranium production in order to simply satisfy China's needs, The Australian government has also held preliminary discussions with India. This has been met with stern opposition at home, given India is not a signatory to the Nuclear Non-Proliferation Treaty. India would supposedly provide safeguards that Australian uranium would not be used to make weapons, but then the Australian people have little confidence and are not particularly enamoured with Chinese sales either.

Nevertheless, the Australian government is enthusiastically pursuing a policy to be resource provider to the world, and that will mean increased uranium sales, one way or another. As South Australia is the only state prepared to allow uranium mining at this stage, UraniumSA appears like an opportunity to get into an investment in Australian uranium that actually has legs.

Having said that, prospective investors must always be cognisant of the fact that reaching a level of actual uranium production can take many, many years, irrespective of the stated objectives of the uranium miner. Uranium analysts are expecting uranium prices to move from levels of around US$45/lb to US$60/lb or over by 2008-09 due to a growing gap between demand and supply. However, projected supply is expected to begin to catch up by this stage, possibly sending the price downward once more. Uranium is not a rare commodity in the ground. The situation will become interesting by 2013, however, when the world runs out of secondary supply from decommissioned Russian warheads.
 
and one more in the pipeline - Northern Uranium - to be spun off from Polaris Metals (POL) and Washington Resources (WRL) uranium assets in northern WA & NT - prospectus currently being prepared - priority to POL and WRL shareholders (see also POL thread)
 
Re: Mantra Resources

wealthyshare said:
has any one heard of any news about Mantra Resources? IPO closed 15 Sept will be floated 27 Sept
Click to expand...

yeh i got a few, there is some discussion earlier in this thread
 
Niz, how did you know you got some?

I haven't heard anything yet :confused: 6 bloody applications, better have got at least 4!!!!!!!!!
 
YOUNG_TRADER said:
Niz, how did you know you got some?

I haven't heard anything yet :confused: 6 bloody applications, better have got at least 4!!!!!!!!!
Click to expand...

nah sorry i meant i applied for some

they havent showed up in my holdings yet... i reckon give it till monday or tuesday...

YT u applied earlier than me so u should be fine... u will be on the substantial top 20 holder for sure! :D
 
56gsa sorry mate for not replying forgot I posted here :eek:

Well I got the allotment for my THR & THRO float next Wednesday
waiting now for my ARU U float called NuPower!

cheers laurie
 
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