| Thu 5 May 2011, 12:18 | | EXT - Extract Resources Limited - Update regarding possible offer for Kalahari |
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EXT - Extract Resources Limited - Update regarding possible offer for Kalahari
Minerals
Extract Resources Limited
Registration No. ABN 61 057 337 952
Registered as an external company in Namibia
ISIN Code: AU000000EXT7
NSX Share Code: EXT
Update regarding possible offer for Kalahari Minerals
Extract Resources Ltd (ASX/TSX/NSX: EXT) ("Extract") notes the
announcement on the London Stock Exchange by Kalahari Minerals ("Kalahari"),
Extract`s 42.76% shareholder, confirming that discussions between Kalahari and
CGNPC Uranium Resources Co Ltd ("CGNPC-URC") remain ongoing in relation to a
possible cash offer by CGNPC-URC for Kalahari. Extract also notes that the
deadline for CGNPC-URC to announce a firm intention to make an offer for
Kalahari has been extended to 17 June 2011 by mutual agreement.
As previously announced, Extract has made submissions to the Australian
Securities and Investments Commission ("ASIC") around the potential requirement
for, and terms of, a downstream offer by CGNPC-URC for Extract. ASIC has not yet
informed Extract of its ruling on this matter.
The independent directors of Extract will keep shareholders informed of any
further developments. In the meantime, Extract intends to continue with its
existing activities, which include the Husab Mine Optimisation and Resource
Extension (MORE) programme, exploration drilling and the ongoing partnership
process to evaluate development options for the Husab Uranium Project.
For further information, please visit www.extractresources.com
On behalf of the Board of Directors,
Jonathan Leslie
Managing Director
Windhoek, 5 May 2011
Registered Office
Swakop Uranium (Pty) Ltd
3 Schutzen Street
Windhoek
Namibia
Sponsor
IJG Securities (Pty) Ltd
Member of the NSX
100 Robert Mugabe Avenue
P O Box 186, Windhoek, Namibia
Registration No. 95/505
Date: 05/05/2011 12:18:01 Produced by the JSE SENS Department.
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