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JNN.V - JNR Resources Inc. (Uranium Athabasca)

 
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steelpiston71



Joined: 02 Jan 2007
Posts: 833
Location: Mt. Pleasant MI USA

PostPosted: Thu Aug 16, 2012 3:46 pm    Post subject: JNN.V - JNR Resources Inc. (Uranium Athabasca) Reply with quote

This one has been around for a while, it was pennies in 2003, rose to $4.50 during the 07 Ux mania, and has recently hit a multi-year low of 6 cents.

Here is the latest news release:

Source: Canada Newswire (August 13, 2012 - 8:00 AM EDT)

SASKATOON, SK, Aug. 13, 2012 /CNW/ - JNR Resources Inc. (TSXV: JNN) ('JNR' or the 'Company') is pleased to announce a National Instrument 43-101 ("NI 43-101") compliant inferred mineral resource estimate for the Fraser Lakes Zone B of 6,960,681 lbs. of U3O8 at an average grade of 0.030% with significant quantities of rare earth element oxides (REO), specifically La2O3, Ce2O3, Yb2O3, and Y2O3 (see table below). The Fraser Lakes Zone B is located on the Company's 100% owned Way Lake uranium project, 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan.

Rick Kusmirski, President & CEO, comments: "We are very pleased to announce the first mineral resource estimate for the Fraser Lakes Zone B. Although a relatively small mineralized zone, the positive geological attributes of this deposit offers excellent potential for the discovery of other significant high-grade basement-hosted uranium mineralization in the Fraser Lakes district."

The Fraser Lakes Zone B uranium and rare earth oxide (REO) mineralization is associated with ca. 1800 Ma granitic pegmatite dykes entrained within the tectonic decollement between Wollaston Group pelitic and graphitic pelitic gneisses of Paleoptoerozoic age and underlying Archean granitoid orthogreisses and foliated granites. Mineralization is accompanied by brittle to brittle-ductile deformation and varying degrees of chlorite, hematite, and clay mineral alteration. The significant uranium and metal endowment in the Fraser Lakes district, combined with the lack of sandstone cover and shallow depth to mineralization, allows for efficient and timely exploration of these targets.

Notes:

The effective date of the inferred mineral resource estimate is August 10, 2012.
The estimate was prepared by independent qualified person, Dr. Allan Armitage, P.Geol., of GeoVector Management Inc.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The key assumptions, parameters and methods used to estimate the mineral resource are as follows:

The estimate was prepared using Gemcom GEMS 6.3 software.
The estimate is based on 25 NQ sized diamond drill holes (4,603 metres) drilled by JNR Resources in four campaigns from June 2008 to April 2011. The drill holes are spaced primarily 75 to 250 metres apart along a strike length of approximately 1,400 metres. The drill holes tested mineralization to a vertical depth up to 175 metres.
The estimate incorporated half metre composite samples; all samples were analyzed at the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, SK, a Standards Council of Canada (CCRMP) certified analytical laboratory.
An average specific gravity of 2.74 was used based on testing of 38 samples of representative mineralized core from nine drill holes that intersect the resource models.
Two separate sub-parallel resource models were constructed within the host rock granitic pegmatite dykes. The models were used to constrain the composite values chosen for interpolation, and the ore blocks reported in the mineral resource. A block model (x - 503590, y - 6322130, z - 525, rotated 30 degrees) with block dimensions of 10 x 1.5 x 1.5 metres in the x, y and z directions was placed over resource model solids with only that proportion of each block below the topographic/overburden surface and inside the solid recorded.
Grades for uranium (U3O8 %) and REO were interpolated into the blocks by the inverse distance squared (ID2) method using a minimum of 2 and maximum of 12 composites to generate block grades in the inferred resource category. The search ellipse used to interpolate grade into the blocks measured 250 x 250 x 4 metres (principle azimuth: 335, principle dip: -27, intermediate azimuth: 245). The size and orientation of the search ellipse approximates the strike, dip and thickness of the pegmatite resource models and takes into account the wide spacing of the drilling.

An independent NI 43-101 technical report supporting this mineral resource estimate will be filed on SEDAR within 45 days from the date of this news release. Dr. Allan Armitage, P.Geol, and Alan Sexton, MSc, P.Geo., of GeoVector Management Inc., are responsible for the technical report and comments related to the resource estimate and its parameters and are "independent qualified persons" for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and have verified the data disclosed in this release.
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steelpiston71



Joined: 02 Jan 2007
Posts: 833
Location: Mt. Pleasant MI USA

PostPosted: Tue Nov 06, 2012 1:13 pm    Post subject: Reply with quote

Hit 5 cents today on this dilution news from last night:

SASKATOON, SK, Nov. 5, 2012 /CNW/ - JNR Resources Inc. (TSXV:JNN) ("JNR") is pleased to announce that it has entered into an agreement with Toll Cross Securities Inc. (the "Agent") to complete a private placement financing (the "Offering"), on a commercially reasonable efforts agency basis, for the issue of up to 34,615,384 flow-through common shares ("Flow-Through Shares") at a price of $0.065 per Flow-Through Share for gross proceeds of approximately $2,250,000, and 13,636,364 units at $0.055 per unit for gross proceeds of $750,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full warrant is exercisable for 18 months from closing into one common share at $0.10 per share. In addition, the Agent has been granted the option to sell an equivalent dollar value of units in lieu of Flow-Through Shares and can increase the size of the Offering by approximately $450,000 (15%).
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rogerklam
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Joined: 07 Apr 2004
Posts: 7526
Location: Thornhill, Ontario

PostPosted: Wed Nov 14, 2012 10:16 am    Post subject: acquire by DML Reply with quote

November 14, 2012 08:30 ET
Denison Mines Corp. Announces Agreement to Acquire JNR Resources Inc.

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2012) - Denison Mines Corp. ("Denison") (TSX:DML)(NYSE MKT:DNN)(NYSE Amex:DNN) and JNR Resources Inc. ("JNR") are pleased to announce the signing of an acquisition agreement (the "Acquisition Agreement") pursuant to which Denison will offer to acquire all of the issued and outstanding common shares of JNR (the "JNR Shares") by way of a friendly take-over bid (the "Offer"). Under the terms of the Offer, JNR shareholders will receive 0.073 of a Denison common share (a "Denison Share") for each JNR Share deposited under the Offer, provided that no fractional Denison Shares will be issued (the "Exchange Ratio"). The Offer represents a premium of 53% based on the 20-day volume weighted average share prices of both companies on the TSX and the TSX-V as of November 13, 2012, and a 55% premium to the closing prices immediately prior to announcement. The Offer values JNR at approximately $10 million. Upon completion of the transaction, shareholders of JNR will own 2.0% of Denison....


http://www.marketwire.com/pres.....726012.htm
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steelpiston71



Joined: 02 Jan 2007
Posts: 833
Location: Mt. Pleasant MI USA

PostPosted: Wed Nov 14, 2012 11:32 am    Post subject: Reply with quote

Of course DML is near a multi-year low as of this offer. Would have been more attractive if DML was at a couple of bucks, they were at 4.40 last year.
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steelpiston71



Joined: 02 Jan 2007
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Location: Mt. Pleasant MI USA

PostPosted: Wed Feb 06, 2013 11:39 am    Post subject: Reply with quote

Deal with Denison closed on Feb 1st, 2013. JNN is no more.

TORONTO, ONTARIO--(Marketwire - Jan. 31, 2013) - Denison Mines Corp. (TSX:DML)(NYSE MKT:DNN)(NYSE Amex:DNN) ("Denison") is pleased to announce the closing of its previously announced acquisition of the outstanding common shares of JNR Resources Inc. ("JNR"). The transaction was completed pursuant to a plan of arrangement (the "Arrangement") in accordance with the Business Corporations Act (British Columbia), which was approved by the British Columbia Supreme Court yesterday. Securityholders of JNR approved the Arrangement on January 28, 2013. All conditions of closing have now been satisfied by both parties.

Pursuant to the Arrangement, the former shareholders of JNR will receive, for each JNR common share held, 0.073 of a Denison common share (the "Exchange Ratio"). All of the outstanding options and common share purchase warrants of JNR are exchanged for options and warrants to purchase common shares of Denison and are exercisable to acquire that number of common shares of Denison and at an exercise price determined by reference to the Exchange Ratio.

With the completion of the Arrangement, JNR common shares have now ceased trading on the TSX Venture Exchange and are expected to cease to be listed on the TSX Venture Exchange shortly. JNR will also apply to cease to be a reporting issuer under the securities laws of British Columbia and Alberta.
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rogerklam
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Joined: 07 Apr 2004
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Location: Thornhill, Ontario

PostPosted: Thu Apr 11, 2013 3:59 pm    Post subject: Reply with quote

Globe says big earnings increase expected at Denison
Quote:
analysts are forecasting a 100-per-cent increase in earnings for the next 12 months. Denison's share price has remained relatively flat.

http://www.stockwatch.com/News.....p;region=C
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