Kalahari Minerals Share Discussion Threads

[energiser01] 22/12/2011 09:05

Henderson's 3.9 % sold down to 3.6% as even that was a non binding committment to the bid.

dyor etc..

[tebbin] 21/12/2011 08:37

Time is moving along and its getting closer to the date when CGNPC will have to declare their intentions.........

Personally I cant see the present situation of £2.43 being the winning bid....The final prize of EXT is not one that will come around again for a long time...There is a number of large investors hovering around and it isn't for holidays in Namibia.......

The EXT BOD advise keep holding and I think this applies to KAH as well

[beefeater25] 15/12/2011 23:41

Is this the start of the games? First time we have been over the bid price...

[zangdook] 13/12/2011 15:09

Maybe a few people are gambling on a higher offer, but the market at large is not persuaded. I reduced my position sharply when the offer came out, because I was burned by the volatility previously. Now I just have a small holding, waiting to see what happens. It's a similar attitude - maybe a counter-bid will come, but I'm not going to put out the boat this time.

[extrader] 13/12/2011 14:33

Hi all,

Why would people be buying (per advfn trades) 580K shares in KAH (so far today) so close to the CNGPC 'offer' ?

If it were significantly above, I could see that there's some belief in a counter-offer, but that doesn't seem to apply here, where (post dealing costs) buyers will be lucky to get their money back.....

Thoughts, anyone ?

TIA

[beefeater25] 12/12/2011 23:07

Hmmmm, interesting due to the fact that Iran owns 15% of Rossing Uranium with Rio!

Wonder if its a slip up..? Could Rio have discussed with the Rossing board about putting a bid in for Extract? If so, Iran would have been involved in those discussions if they are a 15% owner...

[zangdook] 12/12/2011 17:55

Not directly relevant...



"Iran's Industry, Mine and Commerce Minister Mehdi Ghazanfari says Iran is ready to invest in uranium mining projects and oil refineries in Namibia"

[jimbo55] 09/12/2011 12:41

No way I'm going to be voting for this. Daylight robbery, in my view.

[gero67] 09/12/2011 12:18

Extract to 'Urgently' Resume Partner Talks After China Bid

By Jesse Riseborough - Dec 9, 2011 6:35 PM GMT+0800

Extract Resources Ltd. (EXT), owner of the world's fourth-largest uranium deposit, will "urgently" resume talks with potential partners as a A$2.2 billion ($2.2 billion) takeover bid from China looms following an offer yesterday to buy its biggest shareholder.

Australian regulators have ruled that state-owned China Guangdong Nuclear Power Group Co. must offer A$8.65 a share for Extract should the Chinese company's 632 million-pound ($988 million) bid for Kalahari Minerals Plc (KAH) succeed. London-based Kalahari, whose shareholders have recommended the Chinese bid, owns 43 percent of Extract.

"At no stage have we ever been restricted from talking to anyone, so we have continued to have those partnership discussions and we are going to be resuming those as a matter of urgency," Jonathan Leslie, chief executive officer of Perth- based Extract, said in a phone interview from London today.

Extract's search for a partner to help develop its Husab uranium deposit, which has been estimated to cost about $1.7 billion, were slowed following the announcement of talks between Guangdong Nuclear and Kalahari in March, Leslie said. "We've got existing contacts with all the major players in the uranium industry, and the very fact that this offer has taken place shows the strategic importance of it."

Rio Tinto

Rio Tinto Group (RIO), the world's third-biggest mining company and owner of the Rossing mine adjacent to Extract's Husab, is unlikely to make a rival bid as it may partner with Guangdong Nuclear in developing the asset should it be successful, BMO Capital Markets analyst Edward Sterck said yesterday.

Rio owns 14 percent of Extract and 11.5 percent of Kalahari, according to data calculated by Bloomberg. Extract in February said it was in talks with London-based Rio about merging the companies' uranium projects in the African nation.

"We've continued to have discussions but the particular structure we were looking at then has been put on hold," Leslie said today. It would be "very surprising" if Rio weren't part of renewed partnership talks, and Extract's other major shareholder, Tokyo-based Itochu Corp. (8001), was part of such discussions earlier, he said.

Rio's Rossing mine is the third-biggest producer of uranium, accounting for about six percent of global supply, according to World Nuclear Association figures. Husab is about 7 kilometers (4.4 miles) from Rossing and 30 kilometers from Paladin Energy Ltd.'s Langer Heinrich project.

Tony Shaffer, a London-based spokesman for Rio Tinto, declined to comment.

"When we have discussions with people they know exactly what those parameters are now," Leslie said today. "We are going to certainly look at all alternatives."

To contact the reporter on this story: Jesse Riseborough in London at [e-mail]

[zangdook] 09/12/2011 10:58

I think they need 90% to do a compulsory purchase.

[energiser01] 09/12/2011 10:56

They only need 50% acceptances, is that right ? they can then compulsory purchase the remaining 50%, is that correct.

Where are the non execs in all this....

dyor etc..

[energiser01] 09/12/2011 10:52

Notice none of the big 3 have given any undertaking to accept, but of course they could all have other agenda's etc. lets hope the vote is a firm rejection.

dyor etc..

[beefeater25] 09/12/2011 00:02

Ill be rejecting it (not that it will make much difference) but id rather keep for another 2 years...

[smartbeds4me] 08/12/2011 17:21

hi Guys

My Partner holds KAH this is daylight robbery!

smells like brown envelopes under the table!!

[extrader] 08/12/2011 15:57

Hi beefie,

The offer doc will be sent out (per RNS) valid to 5th Jan 2012 for acceptance.

So I guess that info tells you what timeframe we're looking at.

HTH, DYOR etc

PS The only complication is Xmas - but isn't it always ;->

[beefeater25] 08/12/2011 15:34

If Rio or any others were to bid... how long would they normally wait? A week, month, 2 months???

[bigdog9] 08/12/2011 14:42

Name of shareholder giving irrevocable Total number of Kalahari
undertaking to accept or procure Shares and Options in respect
acceptance of the Offer of which undertaking given
--------------------------------------- --------------------------------------
Kalahari Directors:
Mark Hohnen 4,341,313 and 7,500,000 Options
Richard Lockwood 200,000 and 1,000,000 Options
Neil MacLachlan 977,500 and 2,050,000 Options
Glyn Tonge Nil and 2,750,000 Options
David de Jongh Weill Nil and 1,750,000 Options

Total irrevocable undertakings 5,518,813 Kalahari Shares
given to accept or procure acceptance and 15,050,000 Options (representing
of the Offer 2.2% of Kalahari's issued
share capital and, in aggregate,
7.7% of Kalahari's fully
diluted share capital respectively)

[wanttowin] 08/12/2011 14:35

zangdook ,
very interesting point that, if true they have dumped nearly 70% of there holdings ???

[zangdook] 08/12/2011 14:20

From the March offer announcement:
CGNPC-URC has received irrevocable undertakings from each member of the Kalahari Board (other than Takashi Yasuda who does not own any shares) to accept the Possible Offer upon it being made...in respect of their entire holdings of Kalahari Shares including an offer for their Options (being, in aggregate 19,549,006 Kalahari Shares which represent approximately 7.3 per cent of the fully diluted share capital of Kalahari)

From the Dec offer announcement:
the Kalahari Directors intend unanimously to recommend that Kalahari Shareholders accept the Offer, as the Kalahari Directors have irrevocably undertaken to do, in respect of their own beneficial holdings, amounting, in aggregate, to 5,518,813 Kalahari Shares, representing approximately 2.2 per cent. of Kalahari's issued ordinary share capital.

So the directors have dumped a lot of shares in the intervening months (unless someone has left the board?).

[harlee7] 08/12/2011 14:13

Can you guys tell over there who is doing the buying and selling, we cant tell from here

Harlee

[krakow] 08/12/2011 14:05

We're now relying on a counterbid from somewhere. Trouble is, it looks like RIO are happy to do their own deal after the buy-out, if they haven't stitched something up already.

[harlee7] 08/12/2011 14:03

Well, looks to me like he has also aquired himself a permanent job. This is daylight robbery

Hope you guys dont accept this offer, or, I hope we get trumped

Harlee

[zangdook] 08/12/2011 13:55

In the light of the unexpected circumstances in Japan and their impact on uranium equities, the Kalahari Directors recognises the altered market dynamic and subsequently views the Offer from CGNPC-URC as attractive.

They does, does they?

[krakow] 08/12/2011 13:55

Resource up to 500 Million lbs u3o8. $9 per lb in the ground. 42% holding.
Equals a bit more than £632M.

[kimball808] 08/12/2011 13:49

Such a shame, would have liked this to go to production...but it seems this share has been jinxed over 2012...