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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Kalahari Min | KAH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 243.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 243.50 | 243.50 |
| Top Posts |
|---|
Posted at 16/1/2012 13:08 by gero67 Hi AllEXT's QUARTERLY REPORT For the Quarter Ending 31 December 2011 Regards Steve QUOTE Corporate On 8 December 2011, CGNPC Uranium Resources Co., Ltd. ("CGNPC-URC") and the China-Africa Development Fund, announced their intention to make a recommended cash offer for Kalahari Minerals plc, Extract's 42.74% shareholder, through a new acquisition vehicle, Taurus Mineral Limited. The offer is priced at 243.55 pence per Kalahari share. Formal offer documents were posted to Kalahari shareholders on 5 January 2012. In line with ASIC's ruling governing the potential acquisition by Taurus of an interest of over 20% in Extract, Taurus has proposed to make a downstream cash offer to Extract shareholders if it receives acceptances of the Kalahari Offer in respect of more than 50% of the voting rights in Kalahari. If made, the offer for Extract will be priced at A$8.65 per Extract share. Extract's Independent Directors are continuing to review all available opportunities to maximise shareholder value, and intend to make a recommendation in relation to the proposed Taurus offer for Extract if and when such an offer is made to Extract shareholders. Through the ongoing partnership process, the Company has received interest in Husab from a range potential strategic investors. The nature and level of this interest received, including from CGNPC-URC, has confirmed Husab's status as a world class and highly strategic asset. In light of the proposed Taurus offer for Extract, discussions with other interested parties are being accelerated in order to assess whether any alternative and superior proposals may be available for Extract shareholders. The company intends to continue discussions regarding debt financing of the project and potential offtake arrangements to underpin its development. Plans for delivery of access, power and water infrastructure are also well advanced, while the Mine Optimisation and Resource Extension (MORE) programme continues to deliver results that increase the mine life through definition of further reserves, and that optimise the design of the processing plant and mining operations. Net cash expenditure in the quarter totalled $9.2m. At 31 December 2011, the Company held cash balances totalling $54.7m. The Company attended and presented at the following forums during the quarter: 1. Namibia Investment Forum, Windhoek. 2. Commonwealth Business Forum, Perth |
Posted at 21/12/2011 08:37 by tebbin 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 |
Posted at 23/11/2011 06:32 by kimball808 probably a long way off yet but surely inevitable the harnessing of nuclear fusion. the ability to generate truly clean energy. Without the need of Uranium. Unfortunately not ideal for investors in uranium stocks..or any other form of energy providers...but looking very impressive... |
Posted at 22/11/2011 22:54 by contrarian2investor nielsc, thanks for reply and suggestions. Neither of which I currently hold. I will add them to my watchlist.Krakow, thanks for your reply, agreed about Fukushima'd, sentiment towards U308 appears to be improving now and will only get better in 2012. So good/fair value will be attained in the end. As an early investor your patience will be enhanced even further. I will attempt to jump on for the last leg of the journey very soon. |
Posted at 23/10/2011 16:00 by gero67 Uranium sector a long-term investmentThe Australian Financial Review PRINT EDITION: 24 Oct 2011 Claire Stewart The rapid drop in uranium spot prices and the bearish demand outlook since Japan's Fukushima disaster have crippled the share price of some of Australia's biggest uranium producers this year. Coupled with underperforming assets owned by the likes of Paladin Energy and Energy Resources of Australia (ERA), this makes the uranium sector a difficult one to navigate for opportunities. But market watchers say demand for nuclear-powered energy will only increase, and while there are near-term oversupply issues, China, Russia and India will lift demand, meaning battered stocks still look attractive for investors with deep pockets and longer-term strategic views. The global market for uranium is about 86,000 tonnes, around the same size as the rare earths market, and issues have been raised about the possibility of production from BHP Billiton's Olympic Dam site flooding the market. "As far as other new mining opportunities are concerned, they are limited," Deutsche Bank resources analyst Paul Young said. "Either the resource size is too small, meaning scale will be too small and uneconomical, or the grades are too low." Part of the attraction of Canada's Hathor Exploration for Rio Tinto is its high-grade Roughrider deposit. Mr Young describes the grades of more than 11 per cent as "stunning". By comparison, the grade at the proposed underground operation at ERA's Ranger mine will be about 0.34 per cent, which means a much larger amount of material must be put through the processing plant to produce a tonne of uranium. China has been stockpiling uranium, soaking up the impact of recent increased production from Kazakh producers, and demand from China is expected to rise. China currently produces about 11 gigawatts of electricity from nuclear power, but the World Nuclear Association forecasts that could rise to between 50 and 200 gigawatts by 2030 depending on the pace of its nuclear rollout. OC Funds Management portfolio manager Rob Calnon said while its fund did not hold any uranium exposures, it was "closely" following Namibian hopefuls Bannerman Resources and Extract Resources. Bannerman has received a takeover offer from China's Hanlong Mining, and Extract's major shareholder, Kalahari Minerals, has been in takeover talks with China Guangdong Nuclear Power. But Mr Calnon cautions there are very few projects in Australia outside those such as ERA's Ranger mine undeveloped Jabiluka project, BHP's Olympic Dam expansion and Paladin's Queensland tenements that are of substance. Paladin is currently prohibited from developing its Queensland projects due to a ban on uranium mining in that state. |
Posted at 12/10/2011 17:19 by kinbasket Since the initial bid, Extract have added 37% to the resource for Husab. Now 500mlb. Also, Cameco is engaged in a hostile bid for Hathor at a price of about $9lb. An equivalent price for Extract is nearer to $18 that the $9.50 quoted above. Or somewhere around 550p for KAH. Interestingly Hathor is trading at $4 with the bid from Cameco at $3.75 as investors hope for a white knight. However, there looks to be no competing bidder and they may get it at that price. I fear the same situation here. There are good reasons why Hathor is a better target than Extract, not least the geo-political so we should expect a discount to the price indicated above. I also think there are few companies with the money to get involved in a bidding war. It's China and who else ???. Who has more than $3bn laying around to buy Extract and the near $2bn required to build it out ? I think Extracts shear size is a problem. It's too big for most buyers. For that reason I think the parties involved will have got together and worked out a deal between them. Rio, Itochu and CGNPC (and others probably) have had the summer to "talk" and we're likely to get taken out at a relatively low valuation. I still expect it to be at least 270p ($9.50 for EXT). Not enough, but we're unlikely to find a better bidder in this situation. |
Posted at 12/10/2011 16:55 by nielsc "Japanese trading house Itochu also owns stakes in both Extract and Kalahari and is expected to want a share of output from the mine."Now CGNPC and Rio (12.5% of KAH) may have a plan together, but I am hoping Itochu (15% of KAH) might shake things up a bit and you have APAC (12.2%) as well. With Itochu and APAC that is a 27.2% blocking vote. If Rio doesn't want to play ball then that is a near 40% blocking vote. If CGNPC get control of Kalahari then they have a huge 42% vote to accept their own offer for EXT. Rio has a 14.7% stake in EXT. Found this article I think this summarises the current position quite well "Take-over premium vanished due to concentration in shareholdings? With the recent share purchases, more than 75% of Extract's shares are now held (in-)directly by three strategic investors (Kalahari 42%+, Rio Tinto direct 15 per cent (indirect approx 20%) and Itochu direct 10 per cent (indirect approx 16%). With this highly concentrated equity ownership of Extract Resources, the likelyhood for a takeover of Extract with a substantial market premium appears to be greatly diminished. " It's not over until it is over though. Cheers, Niels |
Posted at 11/8/2011 14:34 by beefeater25 Kalahari Minerals: bid for uranium firm back on soon2:22 pm by Jon Mainwaring In May, CGNPC wanted to reduce its bid for Kalahari to 270 pence to reflect the drop in global uranium equities after the Fukushima incident The takeover bid for Namibia-focused uranium firm Kalahari Minerals (LON:KAH) will soon be back on, according to Ambrian Partners analyst Duncan Hughes, now that three months have elapsed since the UK Takeover Panel forbade Chinese firm CGNPC-URC from reducing its 290 pence per share offer for Kalahari to 270 pence per share. On May 10 the Takeover Panel ruled that China Guangdong Nuclear Power Group Uranium Resources Co. would not be permitted to announce an offer for Kalahari for a price of less than 290 pence per share for three months. At the time, Proactive Investors reported that Rio Tinto, which owns the neighbouring Rossing uranium mine, could also be a rival suitor for Kalahari. Ambrian's Hughes now believes that an offer of 270 pence per share could be imminent. "I think that something will have to happen here," he told Proactive Investors. "If not CGNPC, then it will be Rio." An important signal for a renewed takeover attempt could be CGNPC's announcement this week that it is issuing around £283 million in short-term bonds, with a maturity of 366 days, on the interbank market, although it said that the proceeds will be used to "replenish the firm's working capital and repay loans". 270 pence per share is the likely offer since that was the price that, effectively, had been agreed previously, added Hughes. A key reason why the Chinese firm wanted to revise its original price, which valued Kalahari at £756 million, was because of the meltdown in global uranium equities in the wake of the Fukushima nuclear disaster that followed Japan's massive earthquake and tsunami in March. Kalahari has a major stake in the Husab Uranium Project in Namibia via its 42.8 per cent stake in Extract Resources (ASX:EXT, TSE:EXT). Rio's nearby Rossing uranium mine has produced more than 260 million pounds of uranium since 1976. Yesterday, Extract reported a 37 per cent increase in reserves, and a 42 per cent increase in contain uranium, at Husab. The firm's executive chairman commented that "the scale and economics of the Husab Uranium Project continue to underpin the fantastic potential for the development of the world's largest and most significant long life uranium mines". Ambrian, Kalahari's house broker, noted the 37 per cent increase in reserves that extends the mine life for Zones 1 and 2 to more than 20 years and the increase in ore grade from 497 parts per million to 518ppm, as well as a maiden declaration of proven reserves equivalent to four years of full production. The broker commented: "These exceptional results continue to emphasise that the Husab Uranium Project is a world-class mineral asset. The project now has over 20 years of mine life defined. We are confident that the project will continue to grow, and point out that the reserve is just from Zones 1 and 2 at Husab." By 2pm today, shares in Kalahari were up 2.9 per cent at 224.25 pence each. |
Posted at 05/5/2011 15:33 by gero67 Minister dispels nationalisation fears - by Toivo Ndjebela 05 May 2011 WINDHOEK Mines and Energy Minister Isak Katali has poured cold water over fears in the mining industry that government is about to nationalize mines in the country. Cabinet confirmed last week Friday that it has endorsed the declaration of uranium, gold, copper, coal, diamonds and rare earth metals as 'strategic minerals' and their rights for exploration and mining would be reserved strictly for state-owned mining company, Epangelo. The new policy has sent shockwaves down the spines of many investors, many of whom fear their operations and interests in Namibia could be in jeopardy. Many investors fear Namibia is emulating neighbouring South Africa, where government is weighing whether or not to acquire equities worth 60 percent in all mining companies. Also across the border, the government of Zimbabwe recently released a new deadline within which miners there should meet the country's indigenization requirements. But Katali has dispelled any fears that Namibia is emulating any of its neighbours, saying those already embarking on exploration or mining activities are not affected by the new announcement. "We are talking strictly about any new mineral deposits that would be discovered. Not those already being developed by current investors," he told New Era at the weekend. But it seems the new policy has already claimed its first victim, the owners of the Haib copper deposit in southern Namibia, whom governments say have made 'little progress'. "The current licence holders have had exploration rights there for a very long time and little progress has been achieved over the years," cabinet said in a statement. Namibia Copper Mines Inc and Rusina Mining NL controlled the Haib deposit, but it could not be confirmed whether the two entities still own the project. Some mining companies in Namibia have already suffered declines in their international stock market values after the announcement came to the fore. Extract Resources, for example, which is developing a uranium mine near Swakopmund, ended trading down 9.9% Thursday on the Dow Jones. A fear-stricken investor from Hong Kong called New Era on Friday, seeking clarity on whether the new policy would affect his investment with an Australian company, currently developing a uranium mine in the Erongo Region. After Katali's announcement of the policy in palrliament a week ago, President Hifikepunye Pohamba, during his state of the nation address on Wednesday last week, reaffirmed government's commitment towards making this policy a reality. The new policy comes hot on the heels of calls by Namibians for a platform that would allow locals not only to actively participate in the exploitation of the country's mineral riches, but also derive benefits in terms of development. But Katali was quick to point out that the new decision should not be misconstrued with a nationalization of mines. "This is definitely not nationalization. All we want is more benefits for Namibians from the country's minerals," Katali said. The announcement represents another radical policy shift at the Ministry of Mines and Energy since Katali took over 13 months ago. Cabinet announced Epangelo would own licences and interested investors can partner the state-owned entity in mining or exploration joint ventures. "Cabinet endorsed that the right to own licences for strategic minerals will only be issued to a state company," reads Friday's announcement. "Cabinet also endorsed that after approval of the licence by the Minister, the state company may enter into joint ventures with interested parties for exploration and development." 'http://www.newera.c |
Posted at 17/11/2010 17:43 by red ninja Posetd by Gero on hotcopper :-Strategic holders can be friend or foe PUBLISHED : 18 Nov 2010 | The Australian Financial Review | Brendon Lau. QUOTE The expected pick-up in corporate activity in 2011 is shining the spotlight on strategic investors and whether they might make moves on the small-cap stocks in which they hold stakes. So-called strategic investors usually have different goals to other investors as they tend to be rivals to the target company and have an interest in exerting some form of control or taking over the entity. An improving earnings outlook and rising share prices could prompt some strategic investors to make a move and mop up the rest of the company. Those that don't may contemplate selling their stake to other interested parties. But other investors shouldn't assume having a strategic investor is a good thing for the share price: it isn't always easy to work out who is a friend and who is a foe. "Strategic stakes can often present investors with something of a conundrum," Eley Griffiths Group portfolio manager Brian Eley said. "Will the holder use the stake as a launching pad, or will they tire and the stake then becomes an overhang?" ATOM Funds Management chief investment officer David Shearwood agrees that ascertaining whether a strategic investor is a good or bad thing needs to be done on a case-by-case basis. "Strategic investors are generally self-interested. Being friend or foe depends on their own requirement because some are short term orientated and some long, and some are aligned with the board's thinking while others are If a strategic investor does move to mop up the target, shareholders can expect a windfall. The average takeover premium paid is a little over 32 per cent. One of the more likely emerging companies to get taken over is Extract Resources, according to Mr Shearwood. The miner could have the world's second-largest uranium mine when its project in Namibia comes on line. "Rio Tinto is likely to buy Extract as then there would not be a need to build an extraction plant as the rock could be conveyed 10 km to Rio's existing Rossing mine," he said. Rio Tinto holds about 15 per cent in Extract. |
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