Kalahari Minerals Share Discussion Threads

[extrader] 27/1/2012 14:46

Hi nohopeatall,

I guess you do what it says on the tin !

I'm hoping they'll come back at 370p +.......

Seriously, I'm sure there'll be discussions on the lines of 'what would it take...?' by the advisers and with any luck we'll come up with something acceptable to all (principal) parties....

ATB

[nohopeatall] 27/1/2012 10:36

someone on HotCopper or Sharescene (Ausie forums) posted a good timetable - i can't vouch for how correct it is so dyor, however it stated that CGNPC have the deadline of 20th Feb if they want to raise the bid. So if they do not reach 50% then can come back with higher offer. I, like others here, hope they dont get 50% and come back at 270.

[adobbing] 26/1/2012 16:52

If this gets rejected, what deadline / timescale could we expect on a revised bid from CGNPC?

Given that they already have a large chunk of stock, would any new offer come with a shorter timescale?

[zangdook] 26/1/2012 15:19

Aren't DB working for CGNPC?

[grahamg8] 26/1/2012 15:17

UBS now up to 7.19% and Deutsche Bank at 5.11% (direct holdings). So I take it they will be after more than 243.75pps. That's 12.31% against, 29.4% for, but going down as Henderson look set to sell all their shares by the deadline. This looks like going to the wire. 243p might just be enough, if not 270p should bring in the extra votes to get control.

[beefeater25] 26/1/2012 13:37

Personally think that the first bid will be rejected as they wont get enough acceptances. I think there will be a high chance of a raise to 270p and if Rio dont come after it then I believe KAH will be sold for 270p. Any other opinions out there?

[adobbing] 26/1/2012 11:16

Deathly silent on here!

Anyone have any idea on how this bid is progressing, I understood that the deadline for acceptance was approaching?

[humbagash] 21/1/2012 12:31

Hopefully they haven't bought for a "client".

[grahamg8] 21/1/2012 08:34

UBS increased by 1.9m shares. That presumably means they expect the price to go higher. Therefore logically they will vote (all their 6.02%)against the current bid. So we know 29.4% are in favour but the RNS doesn't say how many are against. Originally I though suggestions that the offer price would be increased were too optimistic without a couunter bid. But I then did realise that this does happen from time to time. When a bidder sees that they are likely to fail at the original offer price then they can and do unilaterally increase the offer. An interesting and profitable week to come I hope.

[extrader] 20/1/2012 07:42

Hi all,

Anyone prepared/able to make a guess as to which (if any) of the major shareholders may have accepted ?

TIA

[shavian] 20/1/2012 07:16

Hmmm. late rise in EXT overnight, followed by RNS confirming only modest acceptances. Could be a glimmer of hope for rejection and counter-bid imho

[zangdook] 19/1/2012 04:45

If the offer is rejected, will the share price fall back or move up? Past experience suggests it'll fall back, but the rise above the offer price makes me wonder. I guess it depends whether the buyers at the current price are expecting an improved or competing offer before the vote, rather than hoping for a rejection and improved offer from CGNPC.

[beefeater25] 18/1/2012 18:50

Chance is getting slimmer by the day. Still hopefull but think a final bid of 270p may clinch this...

[kayfash] 18/1/2012 15:35

Hmmm. Strange the share price is rising this late into the offer.

Any chance of a counter offer?

[gero67] 16/1/2012 13:08

Hi All

EXT'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

[beefeater25] 13/1/2012 11:08

They were always going to accept... just depends now on the others. Looking likely that CGNPC will get very close to getting KAH but just missing out in which case the 270p would probably seal it. Only hope is the bidding war but hopes are fading in my view...

[gero67] 13/1/2012 09:22

Kalahari shareholder succumbs to bid

By: Esmarie Swanepoel
13th January 2012
Updated 1 hour 8 minutes ago

PERTH (miningweekly.com) - Hong Kong-listed Apac Resources has accepted the takeover offer by China Guangdong Nuclear Power Corp (CGNPC) for its 13.14% interest in Kalahari Minerals, bringing CGNPC close to its 50% minimal shareholding condition.

The Chinese firm has set a February 2 deadline for its £632-million takeover of Kalahari Minerals, which owns a 43% stake in ASX- and TSX-listed Extract Resources.

The £2.4355-a-share cash offer represented a 16.1% premium to the average closing price of Kalahari's shares for the six months up to March 4, when the Chinese firm first announced it wanted to buy the uranium hopeful.

The Chinese State-owned firm said that it would launch an A$8.65-a-share offer for Extract within four weeks of securing a 50% acceptance of the Kalahari offer.

The bid would value Extract, which was developing the Husab uranium project in Namibia, at around $2.2-billion. The deal has been approved by the Namibian government, despite Extract directors holding off on making a firm recommendation regarding the takeover until a firm offer had been made.

Edited by: Creamer Media Reporter

[energiser01] 12/1/2012 12:31

voted NO today.

[nohopeatall] 11/1/2012 15:31

Have received notification throught Halifax, i will not accept offer.

[wanttowin] 11/1/2012 15:18

Sold out here today at break even after being in for nearly a year. Just had enough of the drawn out hype, plenty of better opportunities out there IMHO.
Good Luck All

[shavian] 11/1/2012 14:10

Not yet received notification from Transact but will be voting no.

[zangdook] 11/1/2012 14:09

Change of broker?