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AUQ - Alara Resources

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T

the barry

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With the priority entitlements being sent out later this week, was just wondering what peoples thoughts were on this float. Do people think this will follow the recent trends and close oversubscribed?
 
Re: LAR - Alara Uranium

Still to look at prospectus in detail but like the look of the location of the NT deposits near EMEs site, and WA ones from memory are also near Lake Way and other proven resources?

Interesting to think what impact Labor Conf may have... if favourable then this should fire international interest? if unfavourable then in theory LAR not that affected given Peru and NT are main areas - but it might have a dampener on things?

TAS have also just announced their IPO (Fission Energy) - this has holdings in SA and WA.
 
AUQ - Alara Uranium

Hi,

Anyone heard of this? It is a new floating company which is to be listed in May. I was wondering if anyone else had a look into if this would be a good investment.

They got 3 projects, one in Peru, one in NT and one in WA.
 
Re: AUQ - Alara Uranium

Well, sounds interesting. Can you expand on the projects a bit. Anything with uranium in the title is a chance. Thanks!
 
Re: AUQ - Alara Uranium

kennas said:
Well, sounds interesting. Can you expand on the projects a bit. Anything with uranium in the title is a chance. Thanks!
Click to expand...

Ok cool.

One of the project is in Peru. It will be in Pampacolca, where there has been reports of 0.13% to 0.29% Uranium Oxide in samples.

The second one is in NT, Birgyli South, which is approx. 390 km north of Alice Springs. The total area to be covered is 1,666 square kms, adjacent to the EME project.

Also there is another project in WA.

The inital offer is to buy 8000shares minimum with a minimum subscription of 4million shares and full subscription of 6 million shares and oversubscripton of 10 million shares.

BTW The prospectus for the offer is available http://www.alarauranium.com.au/

What is your opinion on the offer?

Thanks
 
Re: AUQ - Alara Uranium

Unless you were a strike share holder holding the minimum shares i wouldn't like your chances of getting any shares through the public offering. Will be tightly held, with few shares on offer.
 
Re: AUQ - Alara Uranium

Think that it may be too late to apply-to stand any chance you need to send off immediately especially with U being so hot atm.A lot of these IPOs are a done deal and you would be very fortunate to be allocated any-see Territory Uranium thread(TUC).A better way to get in is to buy into a parent company that is doing a spin off and then get priority although this doesnt always work as EDE are doing a spin off but shares will be issued on a pro rata basis
 
Re: AUQ - Alara Uranium

Suppose i can get 8000 shares in the company through public offering, i just want to get opinion whether it would be a good investment.
 
Re: AUQ - Alara Uranium

This is a brilliant investment. Pretty much all uranium IPOs have listed with at least 100% premium recently.

Examples ... TUC, CUX, SNU.
 
Re: AUQ - Alara Uranium

just to clarify... up to 16m shares available to the public

The post-IPO capital structure of Alara (assuming Alara raises the maximum $10 million) will be as follows: (With % of Over- Issued subscriptions)

Amount raised under the Prospectus $10,000,000
Existing shares 5,500,000 6.8%
Issue to Strike under Strike Uranium Agreement6 18,750,000
Issue to Strike under Peru Sale Agreement7 10,000,000 35.7%
Issue to Orion under Hume Sale Agreement8 6,250,000 7.8%

Shares offered under the Prospectus:
Strike Priority Pool to Eligible Strike Shareholders 22,000,000 27.3%
Orion Priority Pool 2,000,000 2.5%
Public Offer pool 16,000,000 19.9%
Total Shares 80,500,000 100.00%

Strike has also agreed to undertake the distribution in specie of 16 million Alara shares to Strike shareholders at a time to be nominated by the Strike board but being not more than 6 months after the Alara shares commence quotation on the ASX, subject to the ASX granting a waiver for such dealing of escrowed shares, all regulatory and shareholder approvals and consideration by Strike of the tax consequences arising therein.

Under the Alara IPO, a priority pool of up to $4 million (plus an additional $1.5 million if oversubscriptions of at least this amount is accepted) (Strike Priority Pool) has been set aside for Eligible Strike Shareholders. This priority offer will operate as follows:
(a) Subject to the scale-back of applications described in (c), there is no limit on the number of Alara shares Eligible Strike Shareholder may lodge an application for;
(b) Each Eligible Strike Shareholder is entitled to apply for and be issued a minimum of $2,000 worth of Alara shares (a total of 8,000 Alara shares);
(c) If applications received from Eligible Strike Shareholders exceed the Strike Priority Pool, applications received in excess of $2,000 will be scaled back on a pro-rata basis (relative to the number of Strike shares held as at 5.00 pm WDT on 6 March 2007);
(d) Any excess shares applied for by Eligible Strike Shareholders, over and above their scaled back entitlement will be considered with all other applications received under the IPO.
 
Re: AUQ - Alara Uranium

Alara uranium float closes 8 May - listing 22 May as AUQ - the Bigrlyi deposit perhaps of most interest just near EME's deposit.

(i) Pampacolca (Peru) - Uranium
(ii) Bigrlyi South (Northern Territory) - Uranium
(iii) Mt James (Gascoyne, Western Australia) – Uranium
(iv) Mt Lawrence Wells (East Murchison, Western Australia) - Uranium
(v) Canning Well (Pilbara, Western Australia) – Uranium and Gold

In specie distribution of 16 m AUQ shares to SRK holders in next 6 months
 
Re: AUQ - Alara Uranium


Looks good especially with prospective Peru interests, I'll be keen on these, hopefully 40cent listing?
 
Re: AUQ - Alara Uranium

Punter said:
Looks good especially with prospective Peru interests, I'll be keen on these, hopefully 40cent listing?
Click to expand...
40 cents would give a market cap of $32m - this seems the middle range of U explorers with no drilling, no JORCs from what i can gather. Is this reasonable? I think the Peru deposits must stoke some interest with some samples showing potential. However if CTS is anything to go by then market doesn't seem to get excited by Sth American areas at this stage.

For me the Bigryli South area, right next door to EME should drive things in the S-T.

Anyone heard anything about take-up in this float - given there wasn't a lot for the public (16m), and the SRK share price drove hard before record date (presumably people buying the 5000 minimum shares required for priority) I'm thinking it will be over subscribed.
 
Re: AUQ - Alara Uranium

I don't hold any SRK though have applied for 200,000 shares of AUQ.

It will be interesting to see what I get?
 
Re: AUQ - Alara Uranium

GOod one nuwave - anything in particular that got you excited about AUQ... what do you think of the peru potential - goodluck with the allocation (altho you are going for 1.25% of the toal public allotment )
 
Re: AUQ - Alara Uranium

Hi
I am and was a SRK share holder with in the required time and have applied for 140,000 shares, I have been itching to see how many I have got hopefully will be the lot, but I highly doubt it.

I rang on Friday to see if there is any indication on it being over subscribed and they have told me this looks to be the way but will find out more on Friday.

Fingers crossed & count down is on 4 more days, hoping to make a nice return on this on lsiting :microwave
 
Re: AUQ - Alara Uranium

I called them yesterday, and was informed that there was an over subscription and the cheques will be posted out today after a board meeting yesterday.

I do hold SRK and am very keen to find out how the allocation worked.
 
Re: AUQ - Alara Uranium

cquadrat

have u checked your account to see if the allocations are in?

i use commsec

a few westpac ppl say they have theirs already

regards

youngneil
 
Re: AUQ - Alara Uranium

For everyones information I just telephoned etrade and they were not able to tell me what qty I was allocated so they have not received their numbers yet either. I also spoke with Alara and a letter was issued last fri to all prosp app and pref holders advising of allocation qty. Floats 10am thurs 24 may
 
Re: AUQ - Alara Uranium

Has anyones AUQ stocks been allocated in eTrade yet? Mine haven't, so I am guessing that none were allocated and I will be receiving a cheque in the post shortly!
 
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