EXT - Extract Resources

[bigdog]

The market liked this ANN after opening 15 cents down!!
EXT $4.98 +$0.080 +1.63% high of $5.00 and low of $4.75 200,083 shares $982,806 @ 28-May 10:28:18 AM

28-05-2009 10:06 AM EXT Rossing South - Exceptional Assay Results
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00956533

MEDIA RELEASE Rossing South Zone 1 and Zone 2 – exceptional assay results South Perth, Western Australia – May 28 2009 – Extract Resources (“the Company”) today announced some of the best chemical assay results received thus far from Rossing South.

Highlights:
• Rossing South Zone 1 and Zone 2 drilling results continue to confirm and increase the known dimensions of uranium mineralisation with multiple, high grade results.
• Zone 2 maiden resource on track for August 2009.
• Exploration drilling south of Zone 2 intersects anomalous uranium mineralisation 1.6 kilometres south of the previous limit of drilling.

Chemical assay results not previously reported from Rossing South include:
3650 ppm, 3802 ppm, 2752 ppm

The consistent return of wide zones of strong uranium mineralisation from Rossing South support the Company’s view that the 100% owned Husab Uranium Project is part of one of the largest uranium mineral systems in the world. Managing Director, Peter McIntyre, said “that the mining optimization of Zones 1 and 2 promises to be a very interesting exercise. The consistent broad intersections of higher-grade mineralisation, gives us the flexibility of considering a number of optimization models. Every scenario we have been looking at, however, presents Rossing South as being a very large uranium producer.”

Resource Definition Update
Six drill rigs are dedicated to resource drilling at Rossing South. One RC rig is drilling step out holes at the southern end of Zone 1, to extend mineralisation to the south. One diamond rig is completing resource extension holes. An updated resource estimate for Zone 1 will be completed in the next three months.

Three RC rigs continue drilling resource definition holes on a 100m x 100m pattern over Zone 2. One diamond rig is completing resource extension holes. Numerous significant chemical assay results have been returned which confirm the geological model of a gently dipping, open antiform with a shallow northerly plunge. The majority of uranium mineralisation intersected to date has been on the east limb of the antiform. Figure 1 provides an update of drilling progress and Figure 2 shows a representative Zone 2 cross section.

Drilling rates remain on track to enable the Company to define a maiden Zone 2 resource by end August 2009.

Chemical assay results and handheld spectrometer readings from Zone 1 and Zone 2 continue to confirm the presence of broad, high grade alaskite-hosted uranium mineralisation. Both zones remain open along strike and down dip with ongoing drilling expected to increase the known dimensions of uranium mineralisation. A full list of recently received and previously unreported chemical assay results is shown in Appendix 2.
405

 

[Sean K]

Amazing intersections bigdog. This could turn into the largest U mine on the planet. Incredible. Chart wize, lots of resistance building up around the $5.20-30 mark. I'd expect a decent wsing up once that's cracked. But golly, what's the market cap now? For an explorer?

 

[bigdog]

More on for the "control" of EXT - exciting stuff!!

http://www.mineweb.com/mineweb/view/mineweb/en/page72103?oid=83829&sn=Detail

DATTELS MOVE
Battle for Rossing South uranium control hotting up

Polo Resources - a 9.1% holder in uranium explorer Extract Resources - is requesting a seat on the latter's board for Stephen Dattels, stirring control speculation.

Author: Lawrence Williams
Posted: Tuesday , 26 May 2009

LONDON -

In the latest move to try and gain an advantage in how the very exciting Rossing South uranium deposit in Namibia will proceed, AIM listed Polo Resources, which holds 9.1% of Extract Resources - the controlling company for the Rossing South deposit - has asked for an Extraordinary General Meeting to elect its Executive Chairman, London-based Canadian lawyer, Stephen Dattels, to the Extract board of directors.

There are three major players in the battle for control of Extract. First and foremost, Kalahari Minerals owns 39.6% of Extract, but in turn Rio Tinto, which has the huge Rossing Uranium mine, one of the world's largest, located just to the north of Extract's land holdings, owns 15.8% percent of Kalahari Minerals and a further 15.3% of Extract directly. The second major player is, of course Polo with the aforementioned 9.1%, while Dattels himself owns 0.9%.

The recent Polo and Dattels purchases of Extract stock are of particular interest as Dattels has an impressive track record in Namibian uranium development. He was founder and executive deputy chairman of UraMin which was picked up by French nuclear giant Areva for a cool $2.5 billion primarily for its Trekkopje uranium project. Dattels is reputed to have made $100 million personally from the transaction.

Extract's Rossing South deposits are part of its huge Husab land position, which also has other significant uranium discoveries on it. In January this year, Extract annaounced an initial resource estimate, following JORC Code and Canadian NI 43-101 guidelines of 108 million pounds U3O8 at a grade of 430ppm. This estimate is only in Zone 1 of what Extract calls the Rossing South deposit. A second zone a short distance away is also estimated to contain over 100 million pounds U3O8 and the next resource announcement due later this year is expected to be considerably larger as drilling continues to define the resource.

Rossing South is thus turning out to be one of Namibia's biggest uranium deposits to date - and there are a number of other highly promising ones in the African nation as well see: Namibia: uranium's new haven. Hot sector, hot stories.

But of particular interest to investors is the way the battle for control will pan out. Dattels says, in a statement published today "Polo is committed to seeing the development of the Rossing South Deposit owned by Extract as a stand-alone operation. Work undertaken by Polo's technical advisor on a conceptual plan for the Rossing South Deposit, based on publicly available information, indicates that production is feasible as early as Q4 2011. This may be achievable as a 100% heap leaching operation, depending on the scheduling and results of feasibility work being undertaken by Extract."

Given the project's relative accessibility, it is possible that matters could move ahead this fast, but it is perhaps doubtful it will. Rio Tinto is also obviously keen to get its hands on the project and integrate operations with its existing Rossing operation, but it has other financing problems at present and may wish to delay any definitive moves on Rossing South until it is in a better financial position.

In this respect Dattels' current play is an opportune one - and may force Rio's hand - and leave Dattels himself with yet another big Namibian uranium payout.

 

[bigdog]

Looks like the action is just beginning for the control of EXT in the after close trading (850,701 shares traded) plus three late special sales (465,471 shares)!!!

SP closed today +10.89%
EXT 5.50 +0.540 +10.89% $1,265,430 $6,672,050 @ 29-May 04:36:09 PM
-- this volume excludes the THREE special sale volumes and values!

There was three late special sales:--
Time..…… Price Volume Value Condition*Codes
17:16:00 5.50 38,711 212,911 Portfolio Special Crossing,Crossed
16:56:00 5.50 213,380 2,133,802 Portfolio Special Crossing,Crossed
16:36:00 5.50 213,380 2,133,802 Portfolio Special Crossing,Crossed

The trades over 10,000 shares after close at 16:10 were:

Time..…… Price Volume Value Condition*Codes
16:56:00 5.50 213,380 2,133,802 Portfolio Special Crossing,Crossed
16:36:00 5.50 213,380 2,133,802 Portfolio Special Crossing,Crossed
16:10:42 5.50 90,000 495,000
16:10:42 5.50 79,422 436,821
16:10:42 5.50 44,000 242,000
16:10:42 5.50 40,000 220,000
16:10:42 5.50 30,000 165,000
16:10:42 5.50 26,526 145,893
16:10:42 5.50 16,805 92,428
16:10:42 5.50 16,744 92,092
16:10:42 5.50 10,578 58,179

EXT SP and Volumes for the past ten days!
Date….. Close Volume
28-May-09 4.96 615,147
27-May-09 4.90 1,225,730
26-May-09 5.01 0 --- trading halt
25-May-09 5.01 0 --- trading halt
22-May-09 5.01 181,476
21-May-09 5.15 195,582
20-May-09 5.15 380,131
19-May-09 4.94 221,852
18-May-09 4.80 66,151
15-May-09 4.75 70,160

659

 

[bigdog]

Who was the buyer of EXT late yesterday after the close on the ASX?

http://www.proactiveinvestors.co.uk...gister-through-regent-pacific-group-5869.html

Friday, May 29, 2009

Stephen Dattels appears on Kalahari Minerals register through Regent Pacific Group
by Proactiveinvestors

Hong Kong mining investment house, Regent Pacific Group (HK0575) was confirmed as a significant shareholder in Kalahari Minerals (AIM: KAH) today. On first instance, it is not entirely clear why an Asian focused group has built up a 3.52% equity stake in Kalahari Minerals.

Regent Pacific initially invested £4 million (4 million shares at 100 pence per share) through a recent placing completed by Kalahari Minerals, and it was announced today that it had acquired just over 3 million additional shares.

Regent Pacific Group is a diversified mining group focused on the Asian Pacific region. Its principal assets are located in Yunnan Province, Inner Mongolia and Xinjiang Province, China.

Among the group’s investments is a 40% stake in a copper-zinc-lead-gold-silver volcanic massive sulphide (VMS) mine, a 97.5% stake in a Yinzishan Mine and a “majority interest” in an opencut thermal coal project. The company also had a 25% stake in West China Coke and 100% of the Zhun Dong underground coal project.

Regent’s investments do not stop there however. According to the company’s website, it also holds a 49.99% stake in BetonMarkets, a fixed odd betting business, and a 4.64% stake in Red Dragon Resource Corp (TSX-V: DRA) a Canadian listed mineral exploration junior.

So why the sudden interest in Kalahari Minerals? Further digging on Regent Pacific Group’s website quickly provides the answer: Stephen Dattels.

Mr. Dattels is Non-Executive Co-Chairman of Regent Pacific, and is also intertwined with Polo Resources (AIM: PRT) and Emerging Metals (AIM: EML) where he is also Chairman and Co-Chairman respectively.

Polo Resources holds 9.08% of Extract Resources (TSX & ASX: EXT), and Mr. Dattels a further 0.9%. Emerging Metals has a 9.84% stake in Kalahari Minerals. Kalahari Minerals - if you didn’t already know - has a 38.68% stake in Extract Resources.

Therefore, Emerging Metals, Polo Resources, Regent Pacific and Stephen Dattels appear to directly hold a cumulative stake of 13.36% in Kalahari Minerals and 9.98% in Extract Resources.

If this wasn’t complicated enough, Regent Pacific also holds a 4.44% interest in Polo Resources!

The significance? Extract Resources is drilling out what is considered to be the most significant uranium discovery in recent decades just south of the world class Rossing Mine operated by Rio Tinto (LSE: RIO). Rio Tinto has also built up a significant stake in both Kalahari Minerals and Extract Resources.

As Extract Resources largest shareholder is Kalahari Minerals, it is apparent that Stephen Dattels is positioning himself quickly for the upcoming board room battle that is quickly unfolding as Kalahari Minerals and Stephen Dattels try to increase their influence on Extract’s board of directors.
937

 

[Sean K]

Could be the most parabolic chart of the past 6 months. Incredible. Broken up again yesterday, on a crap day.

What's the market cap now big dog.

I know how good the deposit is, but it's some time from producing isn't it?

 

[bigdog]

Could be the most parabolic chart of the past 6 months. Incredible. Broken up again yesterday, on a crap day.

What's the market cap now big dog.

I know how good the deposit is, but it's some time from producing isn't it?

ASX ann today == 05-06-2009 08:42 AM EXT SandP Announces June SP/ASX Index Rebalance

S&P/ASX 200 ADDITIONS
EXT Extract Resources Ltd

As of close June 4
Market Cap: $1,408,001,087
Issued Shares: 228,571,605

52-wk High 6.2400
52-wk Low 0.7500

Today high of $6.24
EXT 6.08 +0.240 +4.11% high of 6.24 309,444 shares $1,907,108 $ 05-Jun 11:11:17 AM

 

[Sean K]

As of close June 4
Market Cap: $1,408,001,087
Issued Shares: 228,571,605

$1.4b!!!

It's an explorer!!!!!!!

Does this concern you?

Or, is it worth this much at this point in it's cycle. And the market's?

Looks like it could have about 200m lbs ish potential to me at 500ppm plus grades.

Is there a peer comparison with a market cap?

Must keep into consideration future dilution to get to production....

Bloody amazing run. Great work! Hope you make a good sell decision, whenever that might be. Or, if you're buying and holding, it holds!!!

 

[bigdog]

http://www.proactiveinvestors.com.a...-move-husab-uranium-project-forward-1648.html

Thursday, June 04, 2009

Kalahari welcomes Extract’s move to appoint Namibian executive team to move Husab uranium project forward

Kalahari Minerals PLC (AIM: KAH) welcomed the announcement by Extract resources Ltd (TSX, ASX: EXT) yesterday that it appointed of a Namibian-based executive management team.

Extract, in which Kalahari has a 38.85 percent stake, appointed two prominent Namibians as non-executive directors to the board in Steve Galloway as chairman and Inge Zaamwani-Kamwe. It has also approved the appointment of a strong local executive management team in support of the impending project approval and development phase of its Husab uranium project.

New appointments will include a locally-based CEO for Swakop Uranium (Pty) Ltd, to guide the project development through the next critical phase. Extract will advertise the executive positions with a view to having a management team in place by mid-August, to accelerate the development of the project.

Kalahari said in today’s statement it applauds the fact that Extract has recognised and responded to its proposed organisational initiatives by announcing the appointment of a Namibian-based executive management team, which Kalahari has always believed to be critical for the development of Husab.

Kalahari will continue to lobby for the complete transferral of head office and all managerial and operational activity from Perth to Namibia as it believes this will be the best way to maximise the value of Extract's assets, and is the most sensible way to move forward in Namibia. Additionally, as part of its initiatives for the development of stronger relations in Namibia, the board of Kalahari will insist on Extract listing on the Namibian Stock Exchange, a process which Kalahari is committed to in its own right.

KAH ANN
4 June 2009

Kalahari Minerals plc (‘Kalahari’ or ‘the Company’)

Extract Appointment of Namibian Management Team

Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of uranium, copper and base metal interests in Namibia, notes Extract Resources Ltd’s (‘Extract’) announcement dated 3 June 2009. The Board of Kalahari applauds the fact that Extract has recognised and responded to the Kalahari proposed organisational initiatives by announcing the appointment of a Namibian-based executive management team, which Kalahari has always believed to be critical for the development of the Extract’s world-class Husab Uranium Project.

 

[bigdog]

Another great day for EXT shareholders
--- does anyone else hold EXT apart from wife and myself?

EXT 6.46 +0.560 +9.49% high of 6.54 815,335 shares $5,130,959 @ 09-Jun 04:10:18 PM

There has been NO after close special trades today as at 4:36 PM

Market Capitalisation $1,469,715,420
52 Week High 6.5400 (all time high today)
52 Week Low 0.7500

648

 

[beerwm]

yeah, EXT has been moving nicely, chart looks extremely bullish.

bought at 3.50

congrats bigdog, and all holders.

 

[Uncle Barry]

Good evening Big Dog.
There are a few old time holders of EXTRACT about and watching.

Myself, pre consod, average price 6.5 cents, now of course, 65 cents, and for some time I've had a silly smile on my face.

When I think of all the clever people who rubbished me and my thoughts on EXT's potential, months ago.

Kennas,
with some research, you will find the potential of whats under EXTRACT's feet in Nam, is far, far more than just 200mil pound, hence the demand and interest in EXT stock as one of the great finds of U in the World.

Everybody I have contact with have not sold one share, in fact, they just buy more when ever funds are available.

Kindest regards,
UB

 

[Boggo]

yeah, EXT has been moving nicely, chart looks extremely bullish.

Very bullish, love it. Another nice price and volume breakout last Thursday after it took a breather.

(click to enlarge)

 

[bigdog]

Uncle Barry,

I recall your postings.

My wife bought back in 2003 at 2.7 cents (now 27 cents)

My son and myself also hold.

EXT hit all time high today of $6.99 and currently $6.80.

There have been no offers for EXT yet!!!

 

[bigdog]

ASX ANN yesterday

10/06/2009 Ceasing to be a substantial holder
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00959674

Lodged because Chinalco has ceased to have an association with RIO and RIO have not sold their share holding.

EXT is currently down 11 cents at $6.84

The bar in Thailand has just opened and I now have access!
934

 

[bigdog]

ASX ANN today
15/06/2009 Change in substantial holding

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00960744

Kalarhari now hold 40.0% of EXT shares with prior notice at 39.11%

SP closed today EXT $6.80 0.000 0.00% high of 6.80 and low of $6.70 188,191 shares $1,272,637 15-Jun 04:13:52 PM
-- the volume today compared to past 12 days!!

Date----- Close Volume
12-Jun-09 6.80 674,809
11-Jun-09 6.75 1,287,167
10-Jun-09 6.95 310,641
09-Jun-09 6.46 815,335
05-Jun-09 5.90 684,187
04-Jun-09 5.84 1,456,776
03-Jun-09 5.43 123,206
02-Jun-09 5.34 205,155
01-Jun-09 5.32 311,780
29-May-09 5.50 1,692,105
28-May-09 4.96 615,147
27-May-09 4.90 1,225,730


191

 

[bigdog]

SP EXT 6.75 -0.050 -0.74% high of $6.75 low volume 319,297 $2,137,030 @ 16-Jun 04:10:44 PM

ASX ANN after the close today!!

16-06-2009 05:18 PM EXT Managing Director to Resign 15 September 2009

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00961048

Notification of Resignation as Managing Director – Mr Peter McIntyre

Extract Resources Limited (“Extract” or “the Company”) has today been advised by Mr Peter McIntyre of his intention to resign from his position as Managing Director of Extract with effect from the 15th September 2009.

Mr McIntyre’s commitment for the next three months is of particular significance to the Company, with a number of key objectives on schedule for the Rossing South uranium project. This includes an updated resource statement for Zone 1, a maiden resource statement for Zone 2, and scoping study results from the first phase of the feasibility study. The Company is also well advanced with its strategic review being undertaken by Rothschild Australia.

The Board thanks Mr McIntyre for his contribution and recognises the significant achievements made by the Company under his stewardship over the last five years during which time the Company has moved from junior explorer to an ASX 200 company.

The Board will immediately commence its search for a suitably qualified replacement to ensure a smooth transition during the Company’s next phase of growth.

 

[jeffstewart]

What do we read into these recent announcements? Kalarahi increasing their hold and the managing director resigning?

 

[bigdog]

EXT SP today EXT 6.10 -0.650 -9.63% high of 6.49 low of 6.09 178,039 shares $1,121,983 @ b17-Jun 01:30:33 PM

http://www.thewest.com.au/default.aspx?MenuId=32&ContentID=148715

Extract board stoush ousts McIntyre

17th June 2009, 8:45 WST

The power struggle over Extract Resources has claimed its biggest scalp yet, with managing director Peter McIntyre to step down from the board of the uranium hopeful he helped build into a $1.5 billion market darling.

Mr McIntyre was yesterday quick to describe his reasons for leaving as “personal” but the move is widely understood to be a direct response to attempts from major shareholder Kalahari Minerals to unseat him.

Separately, a decision on whether the company’s other major shareholders, Rio Tinto and Polo Resources, will be granted board seats is expected within days, as Extract’s board struggles to resolve the corporate machinations that have dogged it for the past nine months.

It was last night unclear if Kalahari boss Mark Hohnen will replace Mr McIntyre or if the company will seek an independent candidate.

Mr McIntyre will stay on until September as Extract works towards a resource upgrade at its flagship Namibian uranium project.

A circumspect Mr McIntyre told The West Australian he had “enjoyed every minute” of his six years at the company, which has grown from a uranium minnow.

In the past 12 months its shares have jumped 474 per cent, compared to a 26 per cent fall on the wider market.

Shares in Extract slipped 5 ¢ to $6.75 before the release of yesterday’s announcement.

KATE EMERY

 

[Uncle Barry]

Good afternoon BDog.
"Mr McIntyre will stay on until September "

Till the 15th of September, thats 3 months in the life of EXTRACT and in that time, ANYTHING can happen, with drilling happening all the time and more Corperate eyes watching and waiting.

Peter just walking away, myself I would find this very, very hard to think possible !
A man of his drive and ideas, I think he will not just walk away and give it all to someone who has done nothing.

I would suggest, stay tuned for more excitment and action from EXTRACT and Peter AND HIS TEAM over the next 3 months !

Kind regards,
UB