What the Papers say
Bloomberg.com : 12-April-2007
VANE Minerals Shares Rise to Record on Review of Uranium Assets
2007-04-12 04:34 (New York)
By Peter Morley
April 12 (Bloomberg) -- Shares of VANE Minerals Plc climbed to a record after the U.K. minerals-exploration company said it started a ``strategic review'' of its uranium assets.
The shares rose 3.5 pence, or 15 percent, and traded at 27.5 pence at 9:30 a.m. in London. That's the highest since VANE first sold shares to the public in June 2004, and values the company at 40.2 million pounds ($79.4 million).
The review will "explore what options may be available to extract optimum value" from its uranium portfolio, London-based VANE said in a statement distributed by the Regulatory News Service today.
"Rising interest, particularly in the U.S. and Canada," has led to "substantial valuations and major fundraising opportunities" for uranium companies, the statement said.
VANE raised 1 million pounds via a convertible loan to speed up exploration and drilling at its uranium projects in North America, the statement said.