This is about Uramin's history, especially what happened in the...

This is about Uramin's history, especially what happened in the last 6 months of Uramin will give us a lot of clue about what would happen to ELM, if the directors are being greedy.

We needed the facts before talking about IS. No negative facts was brought to here about him. In fact we only new about the Uramin success. Now we can see the facts about Uramin below. We can see how the shares of small shareholders were diluted just before takeover. We can see how Sprott Asset Management and another similar company made a profit of 78% of $226 million by private share placement of 52m shares in three just 3 months before the takeover.

It is unbeliavable but true. Read and understand them by their own announcements here.

Basically, I am voting "AGAINST" to Res. 3 and 7. And this is my final decision.

We don't need to pay millions of shares to highly skilled (1) directors. We know how to sell in-demand potash shares to Sprott Asset Management; we can call them and they can buy if they would like to..!

Those guys who are going "FOR" the resolution may try to punish us by pushing the stock price even lower tomorrow.

But, belive me or not, if you don't let your shares get diluted, ELM will be $7-$8 in next 6-8 months in any case.

ELM is a strong buy at this price, we will triple our money from here, if we don't get diluted



UraMin Company Announcements:
Click here

03 August 2007
Areva completes acquisition of UraMin
Source: Click here

15 June 2007
AREVA Announces US$ 7.75 Per Share Friendly Cash Offer for UraMin
Source: Click here

- Attractive premium of 21% over UraMin 20-day average share price as of June 8, 2007
- Full support of UraMin Board of Directors
- In connection with the offer, all directors and certain other shareholders representing approximately 25% of the outstanding UraMin shares have entered into lock-up agreements with AREVA pursuant to which they have agreed to tender all their UraMin shares to AREVA's offer. The support agreement also includes a break up fee in favour of AREVA of US$ 75 million under certain circumstances.

The existing number of UraMin shares is currently about 277M. Given the number of options and warrants that have been emitted, UraMin share capital is made of 323M of shares on a fully diluted basis.

11 June 2007
Potential Sale Update
Source: Click here

UraMin Inc. announces that it is in negotiations with respect to a potential sale of the company. No assurance can be given that the negotiations will be successful.

05 June 2007
Private Placement: Haywood Securities (UK) Limited
Source: Click here

UraMin Inc. and Northwestern Mineral Ventures Inc. and are pleased to announce that the joint venture company they have agreed to form has entered into an agreement with Haywood Securities (UK) Limited for a private placement to raise gross proceeds of US$19 million.

MY NOTE: Only 6 days before the takeover talk anns. a private share placements looks very strange !

29 March 2007
Option Grant to Directors
Source: Click here

The Company announces that on the recommendation of the Remuneration Committee it has granted options over a further 6,410,000 ordinary shares of no par value under its share option scheme to directors, employees and consultants at an exercise price of GBP2.47 (USD4.75) per share. The directors to whom options have been granted are:

- An option over 1,400,000 shares to Ian Stalker, Chief Executive Officer (total 5,400,000 shares under option following this grant)
- An option over 400,000 shares to Neil Herbert, Finance Director (total 2,700,000 shares under option following this grant)
- An option over 100,000 shares to James Pitman, Vice President Corporate Affairs (total 1,900,000 shares under option following this grant)
- The remaining 3,110,000 options were granted to management, employees and consultants of the Company.

MY NOTE: Directors are lees greedy here! They granted the options at USD 4.75, however they will make a 65% from them when the takeover happened in 2.5 months later. Ian Stalkers profit form those 1.4m options is $7.75-$4.75=$3 x 1.4m = $4.5m.

20 March 2007
Private Placement: 52M Ordinary shares to;
Canaccord Adams Limited and Sprott Securities Inc.
Source: Click here

UraMin is pleased to confirm that it has completed its previously announced private placement of 52.0 million ordinary shares of UraMin at a price of GBP2.25 per share (USD4.35) for gross proceeds of approximately US$226 million. BMO Capital Markets Inc. acted as lead agent for the financing on behalf of a syndicate that included Canaccord Adams Limited and Sprott Securities Inc.

MY NOTE: Shares on issue increase from 220M to 272M !

15 March 2007
Sprott Shares Notification as of 28 Feb. 2007: 14M or 6.35% of Uramin
Source: Click here

UraMin Inc has been notified by Sprott Asset Management Inc ('Sprott Asset Management') that as of 28 February 2007 it holds in aggregate, an interest of 14.003.200 ordinary shares of no par value, or 6.35% of UraMin's outstanding shares.
(Total of Uramin shares in issue at this date: 220M + Options)

7 March 2007
Private Placement Update: 52m shares sold
Buyers Agents: Canaccord Adams Limited and Sprott Securities Inc
Source: Click here

UraMin is pleased to announce the size and pricing of its previously announced private placement. The offering consists of the private placement of 52.0 million ordinary shares of UraMin at a price of GBP2.25 (USD4.35) per share for gross proceeds of GBP117.0 million (the equivalent of approximately US$226 million or CDN$266 million). The Company and BMO Capital Markets, as lead agent, on behalf of itself, Canaccord Adams Limited and Sprott Securities Inc. (the 'Agents') have entered into an engagement letter pursuant to which the Agents have agreed to act as agents for the private placement.

23 February 2007
Private placement of a minimum of US$200M for financing of a project :
BMO Capital Markets appointed as agent. (Buyers not announced)
Source: Click here

UraMin Inc. announces that it has entered into an engagement letter with BMO Capital Markets on behalf of itself and others as agents for a private placement of a minimum of US$200 million of common shares of UraMin. Closing is expected to occur on or around March 20, 2007. UraMin intends to use the proceeds of this private placement to partially fund the estimated US$461 million of capital required to finance the Company's Trekkopje Project in Namibia to commercial production. (UraMin currently has approximately US$88 million of net free uncommitted cash at this date)
(No placement share price is mentioned !)
(Sprott Asset Management is not mentioned as well !)
(Stock price goes down from CAD6.00 to CAD4.80 immideately)

13 December 2006
Option Grant to Directors
Source: Click here

As indicated in its announcement on 30 November 2006, the Company announces that today it has granted options over a further 3,600,000 ordinary shares of no par value under its share option scheme to directors, employees and consultants at an exercise price of 95 pence (USD 1.8)per share. The directors to whom options have been granted are:

- An option over 700,000 shares to Ian Stalker, Chief Executive Officer (total 4,000,000 shares under option following this grant)
- An option over 600,000 shares to Stephen Dattels, Deputy Chairman (total 2,600,000 shares under option following this grant)
- An option over 300,000 shares to Neil Herbert, Finance Director (total 2,300,000 shares under option following this grant)
- An option over 300,000 shares to James Pitman, Vice President Corporate Affairs (total 1,800,000 shares under option following this grant).