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To: vireya who wrote (25208)	12/5/2006 2:32:53 PM
From: pmaca1	Read Replies (1) \| Respond to of 37387

OmegaCorp on the block Crossy!!!=DJ Denison Seen Having Competition For OmegaCorp >DEN.T -- By Brian Truscott Of Dow Jones Newswires VANCOUVER (Dow Jones)--Denison Mines Corp.'s (DEN.T) plan to buy Australia's OmegaCorp Ltd. (OMC.AU) - a deal primarily meant to secure ownership of an advanced uranium project in Zambia - is buy no means a certainty, given the cheap price being offered and the current appetite for uranium assets, analysts said. "The offer is fairly cheap at just 0.9 times net asset value, when you consider this is an asset with potential for so much upside," said one uranium analyst. Denison said Monday that it would offer A$1.10 a share, which is a 25% premium to the average share price over the past 20 days. Omega trades around 99 Australian cents a share. The deal is worth about A$170 million. OmegaCorp directors have recommended that shareholders accept the offer in the absence of a superior offer. When President and Chief Executive Peter Farmer was asked during an analysts' conference call if Denison expects to see a competing offer, he said: "I don't know, but our offer is a fair offer." Analysts weren't so sure, in part because of the huge potential of one of OmegaCorp's core assets, the Kariba uranium project in Zambia, a relatively stable and democratic African country. There are expectations that SXR Uranium One Inc. (SXR.T), Paladin Resources Ltd. (PDN.AU), an Australian rival of OmegaCorp, and Lundin Mining Mining Corp. (LUN.T) will take a close look at Denison's bid. "Paladin and Lundin have lots of experience operating and working in Africa, but it might also make sense for an SXR to step in," one analyst said. "Realistically, I can't see who else would bother, because the uranium volumes and the size of the deal is (relatively) small." At the moment, Kariba only has an inferred resource estimate, but a scoping study and accompanying estimates suggest a mine with a life of six to 10 years, churning out 1.5 million pounds of uranium a year. Denison's Farmer described the Kariba project as an advanced uranium project in Zambia with the potential for low-cost production, using shallow open pits and benefiting from sound infrastructure. Production is expected to start as early as late 2009. A pre-feasibility study is in the works. Analysts dismissed any talk of the likes of a Cameco Corp. (CCJ) descending on OmegaCorp, because the scope of the project is too small. Cameco is in a struggle to restart the development of its Cigar Lake mine in Canada, which was hit by severe flooding earlier this fall. Cigar Lake had been slated to start production in 2007 but that's now in question. "Cameco has to do something; they need to buy production now - and that could be an SXR," one analyst said. However, the favored bet is that Cameco will go fater Denison, which has a market cap of C$1.8 billion and would offer Cameco considerable potential for additional production and exploration, another analyst said. In Toronto Tuesday, Denison is up C$1.25, or 4.3%, to C$30.60 on 205,000

To: vireya who wrote (25208)	12/5/2006 4:58:32 PM
From: El Canadiense	Respond to of 37387

ENER.OL /States: You guys should try harder. If I have managed to buy Norwegian OTCs from Spain in the past (and Spain SUCKS when it comes to brokerage houses I can tell you), it has to be possible to be done from the States. That´s part of the charm of buying such a fundamentaly sound stock that at the same time is so OBSCURE.... the harder to come by right now... the larger profits it will reap later on ( according to Ener´s Shareholder´s agrrement a proper IPO outside the OTC is planned within 5 years after its incorporation). IOX.OL took a few months outside of the OTC to finally pop some. Same can be expected here. I´m buying all I can.