UTO - U308 Limited

[sti396]

hey guys,

just reading a little bit about Uranium stock, and came across this one which floats in a couple of months.

Anyone know much about this?

Worthwhile investment?

 

[sti396]

anyone have any thoughts ?

Considering all the talk on this forum about uranium stocks, I would have thought someone would know something.

 

[nizar]

Look at my post on TOE thread

 

[nizar]

Here it is:

Will U308 be the new Toro and why ?

No, one of the major factors IMO driving the demand for toro, was the reputation of the management team esp. Owen Hegarty from Oxiana. He has made alot of investors alot of money. ANother was BHP holding 1%, though this wasnt important, it gave confidence to people no doubt...

But from what i read in u3o8 prospectus, it looks good, with very high grades at ashburton (upto 37%) and dawson well (>400ppm) projects in WA...

THis will excite the market, and no doubt being a small float, 25million shares at 0,20c to raise 5million, it will close oversubscribed.

Only 5million shares allocated to public (already gone IMO) and the rest for Giriala Resources holders.

Another toro, unlikely, but i think u can expect 40-50c on open...

U sell on open, make double at least, but i mean they hold your money for 3-4 weeks... so u just have to ask yourself, is double enough in todays market ?

 

[fryzie]

any updates on this float?
closing date is coming up soon
looks like a good one to get in on the action with

 

[fryzie]

yeh its already heavily oversubscribed

 

[sti396]

Hey,

What are the implications on the price of this stock seeing as most of their mines are in WA and the political environment in WA do not fancy uranium mining.

Thanks.

Phil

 

[kariba]

Have some very good EL's in WA, with known uranium drill intersections & samples. Dawson Well is close to some good uranium deposits, eg: Yeelirrie (BHP), Lake Way (Nova) & Lake Maitland (RPT). But also have some good land in QLD & another good lease right next to Radium Hill in SA.

I also like management of GIR - UTO will have same Director & Co/Sec as GIR. But the real key is Stephen Mann as director - He has had 12 years with Cogema Aus. (COGEMA Resources is a subsidiary of the AREVA group, and is one of the world’s leading uranium exploration, mining and milling companies) He was also a director of ERA, and now wait for it: he is still heavily involved in with Cogema Australia as a Director. - Give that some thought!!

I love it - More pressure on the WA government - GREAT - Will have to crack soon I reckon!.

IMO this will easily see 50 - 70 cents in the first few days. $1 would be good

cheers

 

[esprit]

Well my chequeing account was debited yesterday for the amount of $ I subscribed for in the U308 float, I'm a happy chappy I can see this opening at a tidy profit.

 

[laurie]

Well my chequeing account was debited yesterday for the amount of $ I subscribed for in the U308 float, I'm a happy chappy I can see this opening at a tidy profit.

Sorry to spoil your fun but that means nothing just because they cashed your cheque! it only means your in the race for shares, if it's oversubscribed then a scale back will apply and you will receive a refund of the difference then again some is better than none

cheers laurie

 

[esprit]

Fair enough :

What priority system do they have in place? Ie. who do the shares go to first? Is it done on a time basis, ie. who placed the orders first? Or on a volume basis, where priority goes to bigger/small orders?

 

[benny01]

esprit ... laurie is right, just because the cheque has been banked doesn't mean all that much. I checked with U308 Limited about the priority system and have been advised that that the IPO is a "first come first served" basis.

Apparently all the cheques received by the closing date (13th April) were processed and applicants will either receive their full allotment or a refund check by the end of this week.

 

[esprit]

esprit ... laurie is right, just because the cheque has been banked doesn't mean all that much. I checked with U308 Limited about the priority system and have been advised that that the IPO is a "first come first served" basis.

Apparently all the cheques received by the closing date (13th April) were processed and applicants will either receive their full allotment or a refund check by the end of this week.

Knew I should have sent it off earlier, oh well can only keep the fingers crossed that I get something.

 

[jet-r]

esprit ... laurie is right, just because the cheque has been banked doesn't mean all that much. I checked with U308 Limited about the priority system and have been advised that that the IPO is a "first come first served" basis.

Apparently all the cheques received by the closing date (13th April) were processed and applicants will either receive their full allotment or a refund check by the end of this week.

from what I have read from the IPO prospectus, the priority offer is only relevant to Giralia shareholders.

It states in section 2.5 of the prospectus, "The allotment of shares to applicants will occur as soon as practicable after application forms and appliaction monies have been received for the min subscription of share being offered, following which statements of shareholding will be dispatched"

Is that how you got the "first in first serve" idea from?

 

[astojic86]

Hi

I sent my cheque on the 11th of April. Do you think i have a chance of getting shares since it closed on 13th?

I sent the cheque on the 11th from QLD to WA.

Hopefully i got some shares.

But they didn't take money out of my account yet

So i dunno doesn't look like i got it.

 

[kariba]

Hi

I sent my cheque on the 11th of April. Do you think i have a chance of getting shares since it closed on 13th?

I sent the cheque on the 11th from QLD to WA.

Hopefully i got some shares.

But they didn't take money out of my account yet

So i dunno doesn't look like i got it.

If yours is a GIR Priority Allocation - you should get them
If it was Public Offer - You will probably be too late

cheers

 

[astojic86]

they took money out of my account today so hopefully i am in the run for shares. But it doesn;t mean i will get any. They will probably just refund my money, i really hope i get shares. I am public offer not priority so

 

[forro]

If yours is a GIR Priority Allocation - you should get them
If it was Public Offer - You will probably be too late

cheers

Sorry to give you bad news but I believe all cheques prior to closure on 13/4/06 were deposited. That doesn't mean that we will get shares, being oversubscribed all giralia shareholders will get priority over the public offer.

 

[astojic86]

The priority offer is only to a certain extent then the rest of their application is treated like a public offer,

I think i read that somewhere in the prospectus. Eg is they are entitled to 10 000 and apply for 15 000 the first 10 000 they will get priority but the other 5000 will be same rules as public offer.

I may be wrong. I somehow got a feeling i didn;t get shares doesn't matter, I just wish they didn;t makew my money if i wasn't getting shares if the offer is over subscribed , but looks like they will float very soon and i will get my $$$$ back soon

 

[astojic86]

how will i be informed if i have received shares? and will i be informed a few days before they start trading?