🕐21.02.11 - 09:27 Uhr
Kalahari Minerals plc - discussions regarding potential combination of Husab Ura nium Project and Rios Rössing Uranium Mine
Kalahari Minerals plc / Ticker: KAH.L / Index: AIM / Sector: Mining & Exploration
21 February 2011
Kalahari Minerals plc (Kalahari or the Company)
Discussions Regarding Potential Combination of Extracts Husab Uranium Project and Rio Tintos Rssing Uranium Mine
Kalahari Minerals plc, the AIM listed resource company, notes the announcement published today on the ASX by Extract Resources Ltd (Extract), in which Kalaharis subsidiary, Kalahari Uranium Limited, holds a 41.08% interest.
The Board of Kalahari confirms that is holding discussions with Extract to explore various different options that might simplify the Extract/Kalahari shareholding structure.
A further announcement will be made when appropriate.
Full Extract announcement:
Partnership Update
February 21, 2011: Extract Resources Limited (ASX/TSX/NSX: EXT) ("Extract") advises that it is currently holding discussions with Rio Tinto around a potential combination of the Husab Uranium Project with the neighbouring Rssing Uranium Mine, with a view to capturing the significant potential synergies that could be generated from a joint development of the two projects.
Extract is also holding discussions with Kalahari Minerals Plc to explore various options that might simplify the Extract/Kalahari shareholding structure.
These discussions remain confidential and incomplete and there is no certainty that the parties will reach any agreement.
Extract will continue to keep shareholders informed of any material developments.
About Extract Resources:
Extract Resources Ltd is an international uranium exploration and development company whose primary focus is in Namibia.
The companys principal asset is its 100%-owned Husab Uranium Project which contains one of the fifth largest uranium only deposits in the world.
Extensive exploration potential also exists for new uranium discoveries in the region.
Extract Resources is listed on the Australian (ASX), Toronto (TSX) and Namibian (NSX) Stock Exchanges.
**ENDS**
For further information please visit www.kalahari-minerals.com or contact:
Mark Hohnen
Kalahari Minerals plc
Tel: +44 (0) 20 7292 9110
Simon Raggett
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Stuart Faulkner
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Rory Murphy
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Richard Chase
Ambrian Partners Ltd
Tel: +44 (0) 20 7634 4700
Rory Scott
Mirabaud Securities LLP
Tel: +44 (0) 20 7878 3360
Hugo de Salis
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Susie Geliher
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Susie Geliher
St Brides Media & Finance Ltd
Chaucer House
38 Bow Lane
London EC4M 9AY
T: +44 (0) 207 236 1177 | M: +44 (0) 7976 749 561 | F: +44 (0) 207 236 1188 | www.sbmf.co.uk
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