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EXT - Extract Resources Limited - Update regarding possible offer for Kalahari
Minerals plc
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 plc
Extract Resources Ltd (ASX/TSX/NSX: EXT) ("Extract") notes the announcement by
the UK Takeover Panel ("the Panel") on 10 May 2011 that the Hearings Committee
of the Panel has rejected the appeal by Kalahari Minerals plc ("Kalahari") in
relation to the possible offer from CGNPC Uranium Resources Co. Ltd ("CGNPC-
URC"). Extract also notes CGNPC-URC`s subsequent announcement on 10 May 2011
made under Rule 2.8 and other relevant provisions of the City Code on
Takeovers and Mergers, withdrawing its possible offer for Kalahari on the
terms announced on 7 March 2011.
Extract is continuing with its existing activities, which include the Husab
Mine Optimisation and Resource Extension (M.O.R.E.) programme, exploration
drilling and the ongoing partnership process to evaluate development options
for the Husab Uranium Project. The independent directors of Extract will keep
shareholders informed of any further developments.
About Extract Resources
Extract Resources Ltd is an international uranium exploration and development
company whose primary focus is in Namibia. The company`s 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.
On behalf of the Board of Directors,
Jonathan Leslie
Managing Director
Windhoek, 11 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: 11/05/2011 16:01:47 Produced by the JSE SENS Department.
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