Business
Annual Report and Accounts
Annual Report and Accounts.
About this update from Uru Metals Limited
[{"type":"text","content":"\n RNS Number : 7755E Niger Uranium Limited 01 October 2008 \n \n\n\n\n\n\nFor immediate release\n1 October 2008\n\n\nNIGER URANIUM LIMITED\n('Niger Uranium' or the 'Company')\nAudited Results for the year ended 31 March 2008\n\nThe Board of Niger Uranium announces that it has posted its Audited Report and Accounts for the year ended 31 March 2008 (the 'Accounts'). A copy of the Accounts can be obtained from the Company's website, being www.niger-uranium.com\n\nThe following sets out the audited results for the Company for the year ended 31 March 2008.\n\nChairman's statement\n\nIt gives me great pleasure to introduce Niger Uranium's first annual report to shareholders. The company, which successfully listed on 12 September 2007, has progressed considerably in a very short time and is on track to achieve the key objectives set out in the AIM listing document.\n\nThe company was established in 2007 by a majority of the former UraMin Inc. management team, with a vision of acquiring and developing uranium deposits across the globe, but primarily in Africa. \n\nThe company's strategy is to bring advanced stage projects and extensions to existing dormant deposits into production, while exploring for and developing green-field projects, with the ultimate aim of becoming a significant global uranium producer in the short to medium term.\n\nTo this end, the company is in the process of advancing its late-stage green-fields projects in Niger, particularly the In Gall and Irhazer licenses. In August 2008, the company released its maiden resource statement for targets in this license area. \n\nMSA Geoservices of Johannesburg completed the SAMREC-compliant Inferred Resource of 14.06 million tonnes, at an average grade of 141.5 ppm eU3O8 using a 100 ppm cut-off (containing 4.39 Mlbs eU3O8). \n\nThe target is situated in the southern portion of the In Gall license, one of the eight licenses held by the company in the Republic of Niger, which cover a total of 6,773 square kilometres. All are located in the Tim Mersoi Basin, the world's fifth largest uranium producing district.\n\nIn September 2008 the company purchased 74% of Namakwa Uranium (Proprietary) Limited (Namakwa), owner of the Henkries uranium deposit (Henkries Deposit) under prospecting license (885/2007PR). I am sure that the Henkries Deposi...