Kalahari Minerals Share Discussion Threads

[tebbin] 27/9/2011 11:31

Zangdook....as a LT investor here I am not holding my breath that the Chinese will be back soon....

They are playing a very clever strategy by not buying any shares in either KAH or EXT, whilst the turmoil is in the world markets..

No doubt they will move when it is most advantagous for them....

We neeed the BOD of both companies to be determined to settle for value for assets....

[thorpematt] 18/9/2011 09:38

Julia,
Don't hink so but I'm not sure, he's been posting over on the POLO thread with his usual very insightful stuff - if that's of any use.

[smartbeds4me] 17/9/2011 15:06

Hi Guys

Is Marben still a holder here?

Thanks

Julia

[stu31] 16/9/2011 11:56

yes there weren't more sales..if you are looking at the trade data many large trades are delayed so the advfn buy sell columns are innacurate..although you wouldn't think that if you read most on these boards who like a good conspiracy theory

[approach3] 16/9/2011 09:38

Has anyone any thoughts on why this has been rising all this week on more sales than buys.

[red ninja] 13/9/2011 06:27

Mmm seems we are getting some articles that may be briefed by the Kalahari camp eg the mail article quoting £2.80 and some articles briefed by the Chinese camp like the one above.

[gero67] 12/9/2011 16:00

Mining Kalahari to extract deal

The Australian Financial Review
PRINT EDITION: 13 Sep 2011
Street Talk
Edited by Sarah Thompson, Christine Lacy and Stephen Shore

China Guangdong Nuclear Power was never expected to wait very long before it took up talks again with Kalahari Minerals and, sure enough, the two are back around the table.

The prize at Azure Capital-advised Kalahari is the large Husab uranium deposit in Namibia held by its 42.8 per cent-owned Extract Resources.

Extract's resilience in yesterday's market bloodbath underpins the view that another offer is in the wings, with the shares off 0.6 per cent compared with 8.8 per cent for Paladin Energy.

The theory is that any bid for Kalahari may have to be followed up with an equivalent offer for Extract.

But chatter in London last week that Kalahari's board had given the nod to a 280p-per-share offer from the Chinese, advised by Deutsche Bank, is understood to be off the mark.

The market's move south since China Guangdong aired its 270p-per-share proposal in May - down from the original 290p level - makes that price seem optimistic.

Cameco's hostile $C520 million ($498 million) bid last month for Hathor Exploration has shown that uranium M&A is back on, with suitors set to pick up some bargains in the slump.

Elsewhere, an official estimate for Guildford Coal's Mongolian resources due at the month-end is expected to show a similar quality of asset to Hunnu Coal, which has attracted a 30 per cent premium in Banpu's offer.

[martylangan] 12/9/2011 13:17

....hurry up and bid CGNPC. haha

[red ninja] 12/9/2011 12:50

Just when you thought it was safe to dream again:

[martylangan] 12/9/2011 11:35

Sparty - yes but much more risky imho. Id much prefer to be in KAH at the moment with the potential bidding war looming.

Good luck with NRRP but im well and truly staying here.

[zangdook] 12/9/2011 09:57

Is NRRP something a Chinese nuclear power firm is likely to want to keep hold of a stake in?

[sparty1] 12/9/2011 09:50

Interesting no bid has come in yet but there are complicated issues here.My own preference along with many others is to back NRRP who are effectively controlled by KAH.For a couple of pence a share I`m betting any cash coming KAH`s way will benefit north river by driving forward their ambitions.Hopefully another extract!

[beefeater25] 08/9/2011 14:09

Research by Royal Bank of Canada suggests the outlook for the uranium is far from dire and predicts the spot price will tick up to around US$80 a pound in 2015 from an average price of just over US$46 last year.

So perhaps we may see further consolidation if share prices in the sector remain rooted around their current levels.

One stock to have escaped relatively unscathed from the sector's meltdown has been Kalahari Minerals (LON:KAH), although it has fallen around 16 per cent in the last six months.

Kalahari has a major interest in the Husab Uranium Project in Namibia via its 42.8 per cent stake in Extract Resources (ASX:EXT, TSE:EXT). Rio Tinto's (LON:RIO) nearby Rossing uranium mine has produced more than 260 million pounds of uranium since 1976.



One thing probably keeping the Kalahari share price bubbling – it is up around 57 per cent in the past month – is the prospect of renewed bid interest.

In the spring the China Guangdong Nuclear Power lodged a 290 pence, or £756 million offer for the company, before revising it down to 270 pence in the wake of the horrendous events in Japan.

And while both sides were willing to deal, the Takeover Panel here in the UK wouldn't allow the price reduction.

The restrictions on CGNPC-URC re-bidding were lifted just under a month ago, though it has been all quiet on this front.

An announcement earlier this week revealed that around £10 million-worth of loan notes were converted into stock, suggesting professional investors have confidence in Kalahari and its long-term prospects.

[grahamg8] 08/9/2011 08:51

Gero the only complication with CGNPC is that they will make Rio pay a fair price for any deal that they (Rio) get involved in. As far as I know CGNPC dont own any EXT or KAH shares. They are therefore not a problem in the conventional sense at all. Itochu do however have an equity stake and will need to be factored into any deal that Rio make. So it looks pretty clear that Rio want to do a deal but are reluctant to pay properly for being involved in this huge new mine.

[gero67] 08/9/2011 00:10

Rio expected to keep pruning portfolio: CLSA

Jaimie Freed
The Australian Financial Review
PUBLISHED ONLINE: 08 Sep 2011

Quote

Mr Bairstow said Rio's uranium arm could also be due for a restructure given the recent struggles at Energy Resources of Australia's Ranger mine in the Northern Territory and the loss-making position of the Rossing mine in Namibia.

He said a tie-up with Extract Resources, which owns the Husab project next to Rossing, appeared to be sensible but could prove complicated due to the presence of many interested strategic parties, including China Guandong Nuclear Power Corp and Japanese trading house Itochu.

"We suspect that a joint venture between CGNPC, Rio Tinto and Itochu looks the most likely outcome should a deal be consummated, but have not yet factored this into our forecasts," he said.

[nielsc] 07/9/2011 21:27

It wouldn't surprise me to see a RNS tomorrow. Market seems to have caught a whiff of something brewing!

Cheers,
Niels

[wanttowin] 07/9/2011 21:15

I feel that old saying "patience patience patience" is finally going to prove all of us right here...first decent rise since that terrible disaster in Japan. Lets hope us faithful get rewarded...and the sellers get burnt.

[martylangan] 07/9/2011 20:46

Looks likely that Rio are very keen to seal a JV with EXT and are possibly very close to sorting from what the EXT press release was saying last week. This is potentially why KAH have been so keen to get the Chinese to launch an 'opportunistic' bid, which lets face it really undervalues the company and I believe the directors think so too.

However, I really dont think Rio would be very happy with the Chinese bid and I really do believe that they will be forced into a corner to make a bid themselves.

If the KAH board are as clever as I think they are, 280p could be the start of a nice bidding war.

Thoughts?

[aughton 3] 07/9/2011 19:31

traded nearly 250p , agreed one way to force RIO out

[beefeater25] 07/9/2011 15:50

Notice a few 100k sells gone through... is someone trying to keep the price down?

[beefeater25] 07/9/2011 15:41

Recon today could be the last day to get in...

[nielsc] 07/9/2011 15:04

Is something about to happen? Will we have to wait until tomorrow to find out?

Cheers,
Niels

[beefeater25] 07/9/2011 08:52

Great point red ninja!
Ive always felt that this first bid of £2.80 was a tactical way to get Rio to make a move. I can see this going way over £3.
Topping up this morning with my spare cash...

GLA