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DJ Kalahari Minerals Consolidate Namibian Interests
21.12.2006 09:02:00,


Edited Press Release


LONDON (Dow Jones)--Kalahari Minerals Thursday announces that it has entered
into Heads of Agreement ("HOA") with Extract Resources, a company incorporated
in Australia, whereby the companies have conditionally agreed to consolidate
their respective interests in their common uranium projects in Namibia.

The transaction will be effected by Extract issuing 667 million
(pre-consolidation) new fully paid ordinary shares (on a pre-reconstruction
basis, or 66.7 million new fully paid ordinary shares on a post-reconstruction
basis) in Extract to Kalahari in consideration for the acquisition of
Kalahari's 49% interest in the Husab Joint Venture, and its nuclear fuel rights
(under application) in respect of EPL 3139 (Ubib).

Pursuant to the HOA, Kalahari also has the right to nominate an independent
director to the Extract board. The Managing Director of Extract, Mr. Peter
McIntyre, is also a director of Kalahari.

Extract will, concurrent with the above, also seek shareholder approval for
1:10 reconstruction of its issued share capital. This will reduce the issued
capital of Extract to approximately 163 million shares following the issue of
shares to Kalahari and prior to the capital raising.

Following the consolidation of 100% of the Uranium interests into Extract and
the afore-mentioned capital raising, Extract intends to position itself as a
pure, well-funded, uranium company.

Extract has identified the acceleration of work on the Husab Project as a
priority, especially in light of the progress made on the project this year.
The consolidation strategy will be supported by the funding required to bring
the project through to resource definition and feasibility. The ultimate
objective of the strategy is to bring the project to a proposed development
status during this period of strong demand for uranium.

Assuming that the sale is completed, Kalahari will hold some 40.8% of
Extract's issued capital prior to the A$10 million capital raising.


(END) Dow Jones Newswires

21-12-06 0802GMT


Beobachtet jemand diese beiden Titel?

[tokalic]

ja, bin in extract investiert.

gute aussichten!

[nrj]

Antwort auf Beitrag Nr.: 26.648.612 von tokalic am 03.01.07 06:37:46

wär's dann nicht besser in Kalahari investiert zu sein?

Gruß

nrj

[Schnuckelinchen]

Hab bislang nur eine Handtaschenposition in Extract. Kalahari interessiert mich aber auch.
Habt ihr Infos darüber?

[Schnuckelinchen]

Kalahari Minerals Plc ('Kalahari' or 'the Group')

Granted nuclear fuel exclusive prospecting licence in Namibia


Kalahari Minerals Plc, the AIM listed mining exploration and evaluation group
with a portfolio of copper and uranium prospects in Namibia, is pleased to
announce that its Joint Venture Partner, Extract Resources Ltd ('Extract'), has
been issued prospecting licence ('EPL 3439'), to explore for nuclear fuel in
Namibia. Subject to the necessary approvals, this licence will be incorporated
within the existing Husab Joint Venture (49% Kalahari and 51% Extract).


The Husab Project is situated in a known uranium province strategically located
between the Rossing granite (alaskite) hosted uranium mine (Rio Tinto 68.6%),
and the palaeochannel-hosted Langer Heinrich deposit, currently being developed
by Paladin Resources Ltd.


Limited drilling was carried out over a number of prospects now captured by EPL
3439 by a subsidiary of Anglo American Corporation of South Africa ('Anglo')
during the period 1974-1981. During this time, a total of 51 shallow percussion
drill holes and 10 diamond core holes were completed over three prospects
identified by mapping and ground surveys. These targets represent the strike
extensions of the Ida Dome and Ida East targets currently being drilled by the
Company, and strongly suggest that uranium mineralisation is developed over a
greater strike distance than previously contemplated.


The best results as reported by Anglo were as follows:


* 43 metres at 0.370 kg/t U3O8

* 32 metres at 0.403 kg/t U3O8

* 24 metres at 0.866 kg/t U3O8, including 5 metres at 2.453 kg/t U3O8

* 17 metres at 0.984 kg/t U3O8

* 21 metres at 0.510 kg/t U3O8

* 11 metres at 0.507 kg/t U3O8

* 9 metres at 1.864 kg/t U3O8

* 37 metres at 0.261 kg/t U3O8

* 29 metres at 0.243 kg/t U3O8

* 20 metres at 0.252 kg/t U3O8

* 11 metres at 0.490 kg/t U3O8


In addition, the small number of diamond drill holes completed returned the
following results:


* 56.84 metres at 0.221 kg/t U3O8

* 26.28 metres at 0.236 kg/t U3O8

* 3.95 metres at 0.991 kg/t U3O8


(Note: 1.0 kg/t = 1,000 ppm = 0.1% )


Drilling took place over two main target areas called Anomalies A and D, which
represent the southern extensions of the Ida Central and Ida East targets within
EPL 3138. The grant of EPL 3439 has effectively doubled the strike length of the
Ida Dome alaskite bodies available for exploration and evaluation by the
Company.


Diamond drilling on the Husab project (EPL 3138) has been underway since April
2006 and 21 holes for 6,600 metres have been completed with results that
indicate that the geology is similar to the other major uranium deposits in the
region. To date, best uranium intersections from the campaign include 8 metres
at 2.316 kg/t U3O8; 14 metres at 1.063 kg/t U3O8; 41 metres at 0.361 kg/t U3O8;
and 9 metres at 1.077 kg/t U3O8.


Kalahari Minerals Chairman Mark Hohnen said, 'The new licence is located in a
known uranium area with similar geology to existing uranium mines nearby. The
licence will be subject to intense exploration involving ground spectrometer
surveying to locate and verify the strike extensions of the Ida Dome alaskites,
followed by exploration drilling as new targets are identified and prioritised.


'Husab represents a very exciting opportunity, principally due to the basic
facts that past and present exploration suggests significant uranium
mineralisation; and that uranium prices will we believe continue to rise as
worldwide supply of uranium fails to meet future demand. '


The information in this announcement as it related to geology, geochemistry and
geophysics, has been prepared and reviewed by Mr. M Spivey who is a competent
person as described in Appendix 5A to the ASX Listing Rules and Part two of the
AIM Guidance Notes for Mining and Oil and Gas Companies.


* * ENDS * *


For further information please visit www.kalahari-minerals.com or contact


Peter McIntyre Kalahari Minerals Plc Tel: [phone]

Oliver Cairns Corporate Synergy Plc

[Schnuckelinchen]

Sehr interessante Studie, wie ich meine. Erwähnenswert, dass auch das besondere Potential von Forsys in der Studie vom August 06 erkannt wurde.


http://www.kalahari-minerals.com/investor_relations/Ambrian_…