Below is a post from Lenni off hotcopper. I think this is a valuable piece of information because Namibia aren't granting tenements atm and Erongo would have to be one of the attractive companies to look at with the very small market cap. Could be the reason for the rise.
"Russia and China are after Namibian uranium and a moratorium on uranium licenses...keep in mind that the Balcatta boys have tight relations to Russian investors...
Lenni
......................................................................... International Herald Tribune Russian companies plan uranium extraction in Namibia The Associated PressPublished: February 23, 2007 MOSCOW: Three Russian companies plan to create a joint venture to extract uranium in Namibia, Russian news agencies reported Friday. Renova, state-owned Veneshtorgbank or VTB, and state-owned nuclear materials and services exporter OAO Tekhsnabexport, or Tenex, plan to join forces to prospect for and mine uranium in the southern African nation, ITAR-Tass and Interfax quoted Russian nuclear energy agency chief Sergei Kiriyenko as saying in the Namibian capital, Windhoek. Namibia is the world's fifth-largest uranium exporter and "is very interesting in terms of uranium extraction," ITAR-Tass quoted Kiriyenko as saying. Amid ambitious plans to expand nuclear power production, Kiriyenko said last year that Russia would increase spending on uranium extraction tenfold over the next two years and is interested in mining uranium abroad in countries where it is profitable.
....................................................................... Namibia, Russia discuss nuclear cooperation - PM - 1 23/02/2007 13:14 (adds details after paragraph 1) WINDHOEK, February 23 (RIA Novosti) - Namibia and Russia are discussing the possible use of Russian nuclear technology to make up for Namibia's energy deficit, Namibia's prime minister said Friday. Namibia expects a reduction in energy supplies from South Africa in the next three years and forecasts an energy deficit of 300 megawatts. "The Russian side said there are a number of available technologies, one of them being nuclear," Nahas Angula told journalists after a meeting with the Russian delegation. Angula said the environmental and economic expediency of using nuclear technology in bilateral cooperation should be assessed, adding that Namibia produces uranium. The Namibian premier said he discussed with Russia's natural resources minister, Yury Trutnev, and nuclear chief Sergei Kiriyenko cooperation prospects. Angula also said one of urgent problems was to help south African countries, including Namibia, satisfy their energy needs. In January, Renova Group and Techsnabexport, Russia's state-run nuclear exporter, signed a cooperation agreement to set up joint ventures as part of a joint investment project to prospect and develop uranium deposits in Africa and Asia. Techsnabexport and Russia's leading asset management company, headed by tycoun Viktor Vekselberg, plan to set up joint ventures in South Africa, Namibia and the Democratic Republic of Congo, the company said in a statement. ......................................................................... Namibia: China Offers Country N$1.7 Billion The Namibian The Namibian (Windhoek) February 7, 2007 Posted to the web February 7, 2007 Brigitte Weidlich CHINA has offered Government one billion Namibian dollars as a concessional loan over a three-year period until 2010, plus another N$720 million as a credit line, The Namibian established yesterday. The offer was made on Monday during bilateral talks shortly before Chinese President Hu Jintao wrapped up his brief visit of barely 23 hours to Namibia yesterday morning. Western Union After talks with Namibian President Hifikepunye Pohamba on Monday, a new grant and an interest-free loan agreement worth N$60 million were signed at a brief public signing ceremony. The state visit culminated with a banquet held in honour of Hu and his 130-member delegation. The Permanent Secretary in the Finance Ministry confirmed the huge amount yesterday afternoon. "The N$1 billion is in the form of a concessional loan, which means that Namibia can use those funds on projects it will decide on," Calle Schlettwein told The Namibian. "The second offer of US$ 00 million (about N$720 million) is a concessional credit line. This will enable our Government to acquire goods, services and equipment from China," Schlettwein added. He said Government still had to decide whether it would accept the offer. "We will then have to decide on which projects we will use those funds and then negotiate the loan terms," he explained. After Hu\'s departure, the two countries issued a joint communiqué, but the loan offer was not mentioned. Namibia and China expressed their satisfaction with the strong ties that exist between them as well as political trust and good co-operation. "Both heads of state recognised the achievements made in trade and agreed to work together to strengthen co-operation in mining, agriculture, tourism, manufacturing and human resources development," the communique stated. Both countries now have four agreements in place: trade and economic co-operation, establishing a joint commission on trade and economic co-operation, a reciprocal treaty for the protection of trade and investments for both Chinese and Namibian businesspeople in China and Namibia. The fourth agreement was signed in Beijing last November during the Forum for China-Africa Co-operation (Focac). The Namibia Investment Centre and a similar institution in China, the China investment Promotion Agency (CIPA), agreed to promote and facilitate investment between the two countries. After Hu left, some 35 Chinese businesspeople who are part of his official delegation remained behind in Windhoek for a business presentation on Namibia as an investment destination. Relevant Links Southern Africa Namibia Asia, Australia, and Africa Aid and Assistance It was organised by the Namibia Investment Centre and the Ministry of Trade and Industry and some 50 Namibian captains of industry attended the session. Minister Immanuel Ngatjizeko called on the Chinese executives to form joint ventures with their Namibian counterparts and to invest in local value addition of the country\'s raw materials. "It is imperative that during all your deliberations and interactions, value addition should become your central strategy of engagement," Ngatjizeko urged."