EXT - Extract Resources

[bigdog]

"North America Roadshow" - August 2009 posted on the Extract website 12/08/2009

http://www.extractresources.com/InvestorInformation/Presentations/tabid/615/Default.aspx

Slide 32 Current Equity Research target prices

Securities Firm.. Date..... Target Price
BMO.................. Aug 05, 2009 A$9.72 - 11.33
Haywood........... Aug 04, 2009 A$10.10
Thomas Weisel.. July 22, 2009 C$9.00
DJ Carmichael.... May 18, 2009 A$9.42

Slide 21 Major shareholders %
Kalahari Uranium Ltd* 40.0%
Rio Tinto..................... 15.1%
Polo Resources........... 10.0%
Acorn Capital............... 3.5%
Directors & employees 3.5%
SGJ Investments......... 3.2%

Slide 20 Investment Highlights
Central land position in key uranium province
-- 7 km from Rio Tinto’s Rossing mine which has produced over 242 Mlbs U3O8 since 1976

Development of one of the largest global uranium projects
-- Current Resource of circa 300 Mlbs with potential to produce 15 Mlbs per annum of U3O8 for +20 years

Preliminary scoping study results
-- Conducive to open pit mining with conventional mining and metallurgical characteristics

Significant upside potential along 15km of potential mineralisation
-- Further exploration to develop Zone 1 and Zone 2 Resources with potential for further mineralisation

Establishing Namibian based management team to drive project development
-- Search for in-country CEO to accelerate development schedule

Slide 17 Next 9 Months
Feasibility Study underway
-- Rossing South: scoping study in August 2009
-- DFS in Q2 2010

Continue drilling remaining 9 km of 15 km Rossing South target

Commence drilling other priority Husab exploration targets

Implement development / corporate initiatives following strategic review

Recruit CEO for Namibian operations and develop local operations team

Initiate product marketing strategy



EXT 8.37 +0.520 +6.62% high of $8.40 low of $7.93 413,594 shares $3,399,987 @ 13-Aug 03:33:11 PM
-- much better day today!!

 

[berbouy]

WHIreland Equity Research 18th August 2009

Extract Resources Limited* (Valuation A$9.93ps)

This Yellowcake Slice has just increased by 58%

Following the release of the JORC compliant Inferred Resource for Zone 2, and
preliminary cost guidance from the company, we have up-dated our valuation. The key changes to our financial model is a 25% increase in production rate (12 to 15Mtpa), an 85% increase in project capex (US$380 to 704M), and most importantly, a 30% drop in estimated production and processing costs (US$33.8 to 23.6/lb U3O8).

In addition, as flagged in our initiating note, we felt that the ore-resource grades that we were using were very conservative. This has proved to be the case, with Zone 2 grades being on average 21% higher than Zone 1's. As a result, one of the important assumptions we have made is that, in the process of project optimisation, any subsequent mining operation will preferentially mine the higher-grade Zone 2 initially to facilitate capital pay-back and maximise economic returns. This assumption has been confirmed as a possible scenario by management.

Following the recent 14% drop in the spot uranium price and the fact that demand appears to be both discretionary and price sensitive, we have taken this opportunity to lower our long-term uranium price from US$75/lb to US$65/lb U3O8. However, we reiterate that primary supply only accounts for 64% of the global uranium demand, with secondary supply reliant of reprocessing and/or decommissioning of Russian nuclear weapons.

Based on modelled after-tax cashflows from Rossing South and the Ida Dome, we
reiterate our Buy recommendation and value EXT at an after-tax NPV12% of
A$2,757m or A$9.93ps fully diluted. Our 3-year value is based on after-tax cash-flows from FY12 onwards, resulting in A$15.20ps target.
while all the news is about the gorgon project, happened upon this small report re EXT and thought it may be worth a look.

holding EXT

.

 

[bigdog]

EXT hits all time high today of $8.98

We must be due for further update report soon!!!

EXT 8.98 +0.680 +8.19% high of 8.98 and low of 8.34 214,155 shares $1,838,500 @ 24-Aug 03:04:16 PM

Prior 52 Week High 8.7700 and 52 Week Low 0.7500

Up $1.14 in eight days!!!
Date------ Close Volume
21-Aug-09 8.30 195,183
20-Aug-09 8.42 178,960
19-Aug-09 8.25 83,001
18-Aug-09 8.13 221,707
17-Aug-09 8.21 148,053
14-Aug-09 8.48 339,571
13-Aug-09 8.40 468,276
12-Aug-09 7.85 143,718

521

 

[Sean K]

bigdog,

You must be going to shout us all a beer or two?

This is the best chart I have seen on the ASX over the past 3 years.

Amazing.

Great work!!!

As I have said before, make sure you turn it into a profit somehow!!!



Tax will kill early holders. Keep that in mind, but don't let that stop you making a profit.

 

[bigdog]

EXT SP closed at $9.73 yesterday after all time high of $9.95

26-08-2009 08:39 AM EXT Launch of Rights Issue and Placement for raising A$91M
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00981075

MEDIA RELEASE
A$91 MILLION EQUITY RAISING BY EXTRACT RESOURCES
South Perth, Western Australia – 25 August 2009: Extract Resources Ltd (“Extract” or the “Company”) (ASX / TSX: EXT) has launched a A$91 million equity raising by way of a nonrenounceable pro-rata offer to eligible shareholders and a private placement to accredited institutional investors.

The equity raising comprises:
• A one for 35 non-renounceable pro-rata offer of Extract ordinary shares ("New Shares") at an issue price of A$7.75 per New Share, a 19.9% discount to the theoretical ex-rights price1, to raise A$50.7 million (“Entitlement Offer”); and
• The sale on an underwritten private placement basis of 5.2 million Special Warrants (“Placement”), at an issue price of A$7.75 per Special Warrant, for gross proceeds of A$40.3 million. The Placement will be made outside of Australia, and is expected to be made mainly in Canada and the United States.

Proceeds of the Entitlement Offer and the Placement will be used to accelerate exploration activities at the Rossing South project in Namibia including accelerating and increasing the drilling programmes for Zones 1 and 2 and to extend and accelerate the regional exploration programme which will include areas of identified mineralisation located South of Zone 2. Proceeds will also be used for the Definitive Feasibility Study and for working capital and general corporate purposes.

Peter McIntyre, Managing Director of Extract, said “Rossing South continues to deliver in terms of expanding an already world class resource and the equity raising is expected to allow Extract to significantly accelerate the exploration program. This equity raising, together with completion of the
Rossing South Definitive Feasibility Study is expected to assist in developing Rossing South through the next phase.”

Entitlement Offer
The Entitlement Offer comprises a non-renounceable pro rata offer of New Shares to eligible shareholders. Eligible shareholders will be entitled to apply for one New Share for every 35 Extract shares ("Shares") held at an issue price of A$7.75 each per New Share. A maximum of 6.54 million New Shares will be issued under the Offer, raising up to A$50.7 million. The New Shares will rank equally with the Company's existing Shares on issue.

Extract’s three largest shareholders Kalahari Uranium Limited (40%), Rio Tinto International Holdings Australia Pty Limited (15%) and Polo Resources Limited (10%) have each provided irrevocable commitments to apply for their full entitlements in the Entitlement Offer and each to subscribe for any shortfall from the Entitlement Offer in the same proportion as their holding in Extract as at the Record Date.

The Record Date for the Entitlement Offer will be 5.00pm (AWST) Monday, 7 September and existing Shares will be quoted on an ex-entitlement basis on Tuesday, 1 September. Further details of the Entitlement Offer will be set out in the offer document which is expected to be released to ASX on Friday 28 August and provided to eligible Extract shareholders by mid-September.

Placement
The Company has entered into an agreement with underwriters led by BMO Capital Markets (“BMO”) and including Haywood Securities Inc. (“Haywood”) who have agreed to purchase, on an underwritten private placement basis 5.2 million Special Warrants of the Company at an issue price of A$7.75 per
Special Warrant, for gross proceeds of A$40.3 million. Ordinary Shares to be issued upon the automatic exercise of the Special Warrants will settle only in Canada on Extract’s Canadian subregister which is typically traded on the Toronto Stock Exchange (“TSX”).

Each Special Warrant will be automatically exercised for no additional consideration into one Share on a one-for-one basis. The Special Warrants shall be automatically exercised at 5:00 p.m. (Toronto time) on the earlier of the following dates: (i) the third business day after the date (“Clearance Date”) on which a receipt is issued by the securities regulatory authorities in each of the provinces in Canada other than Quebec (“Qualifying Jurisdictions”) for a final prospectus qualifying the Ordinary Shares to be issued on exercise of the Special Warrants; and (ii) the date which is four months and a day after the closing date (“Closing Date”) of the Placement. Special Warrants will not entitle the holder to participate in the Entitlement Offer and the issue of Shares under the Entitlement Offer will not give rise to any adjustment to the number of Ordinary Shares to be issued on exercise of a Special Warrant.

The Closing Date for the Placement is expected to be on or about 15 September 2009. The proceeds of the Placement will be held in escrow, pending the earlier to occur of the time at which BMO shall be satisfied in its sole discretion, acting reasonably, that the maximum amount of approximately A$50.7 million will be raised in the Entitlement Offer, and the Allotment Date of the Entitlement Offer.

The Special Warrants and Ordinary Shares issuable on exercise of the Special Warrants are subject to resale restrictions in Canada for a period of four months from the closing date. Extract will use commercially reasonable best efforts to file and obtain a receipt for a prospectus in all Qualifying
Jurisdictions within 30 days following the release of Placement funds from escrow. In the event the Clearance Date has not occurred by 75 days after the Closing Date, each unexercised Special Warrant will thereafter entitle the holder to acquire 1.05 Ordinary Shares.

The closing is subject to receipt of regulatory approvals, including approval of the TSX.

The Placement is also subject to an underwriting agreement to be signed with BMO and Haywood, which will contain such representations, warranties, covenants, conditions, indemnities, termination provisions and other terms and conditions that are usual for Canadian special warrant transactions.
This press release is not an offer to sell, or a solicitation of an offer to buy, any securities. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Company update
Extract has received and filed an updated Technical Report under Canadian National Policy 43-101 – Standards of Disclosure for Minerals Projects on SEDAR. The report relates to its Rossing South project in Namibia and is published in relation to a significant upgrade to the Zone 1 resource statement and an initial resource statement for resources at Zone 2 as previously advised to the ASX.

Rossing South's potential to be one of the world's largest uranium mines has been recognised by a number of global uranium industry players, many of which have expressed interest in participating in the future development of the project. The Company, assisted by Rothschild, continues to review the
various corporate and business options aimed at bringing Rossing South into production in the most effective manner. A wide range of development options and funding alternatives are currently being evaluated but no decisions have been taken yet. Extract has held, or intends to hold, discussions with a number of industry participants in respect of potential partnering or business combination scenarios that have the potential to add value to the project and to Extract shareholders.

Rothschild is acting as Financial Adviser, Clayton Utz is acting as Australian Legal Adviser and Cassels Brock & Blackwell LLP is acting as Canadian Legal Adviser to Extract in relation to the equity raising.

25-08-2009 11:26 AM EXT Rossing South NI 43-101 Technical Report
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00980756

 

[clint]

this is great news for ext and going forward

the new investors will make it easier to raise capital going into the future

 

[bigdog]

EXT 9.89 +0.390 +4.11% high of 9.89 85,523 shares $818,888 @ 31-Aug 10:30:46 AM

$10 is not very far away!!!

31-08-2009 10:07 AM - Rossing South Update - Zone 3 Emerging
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00983043

MEDIA RELEASE
Rossing South Exploration Update - Zone 3 Emerging

South Perth, Western Australia – August 31, 2009 – Extract Resources (“the Company”) today announced confirmation of additional zones of uranium mineralisation at Rossing South.

Highlights:• Zone 3 - Chemical assay results confirm strong uranium mineralisation, 1.2km south of the current Zone 2 resource area.
• Strongly anomalous hand held spectrometer results, 2.4km southwest of the
current Zone 2 resource area.
• Abundant high grade results continue to be returned from Zone 1 and Zone 2.
• Eight holes completed so far at the Salem prospect, 10km south of Rossing South. All have returned numerous anomalous mineralised intercepts.

Chemical assay results not previously reported from recent drilling at Rossing South include:

Hole ID Mineralised zones (U3O8) are all in Zone 2
RRC385 2079 ppm
RRC338 1420 ppm
RRC382 1445 ppm
RRC342 1251 ppm

The broad zones of strong uranium mineralisation from Rossing South continues to increase the known size of this massive mineralised system.

Extract Resources Managing Director, Mr. Peter McIntyre, said “The rapid growth of Zones 1 and 2 is now being complimented by the potential of a third zone of mineralisation along the same Rossing South trend. The potential of the entire 15 kilometre trend is enormous, with some degree of mineralisation being encountered on every line drilled to date.”

“The Company intends to add further value to the project through ongoing exploration and resource definition drilling aimed at defining the full potential of the project. The Company is also, pushing ahead with the Rossing South Feasibility Study on Zones 1 and 2 to get the project into production in the shortest possible time frame.”

There are 14 pages in ANN

176

 

[bigdog]

http://www.proactiveinvestors.co.uk...kely-to-hold-third-mineralised-zone-7691.html

Kalahari Minerals says Extract’s Rossing South likely to hold third mineralised zone
by Andre Lamberti

Kalahari Minerals PLC (AIM: KAH) announced a further fundraising aimed at maintaining its 40 percent stake in Extract Resources Ltd (TSX, ASX: EXT) which controls the Husab project in Namibia and its Rossing South uranium deposit. In a separate statement, it said exploration at Rossing South is increasingly indicating a third mineralisation zone along the same trend as Zones 1 and 2, and believes that the true scale and magnitude of the Rossing South project is some way off from being understood.

Kalahari has conditionally raised £20 million via placing 11.76 million new shares at 170 pence each. Furthermore, the company is in advanced discussions to raise an additional £10 million before expenses through the issue of convertible bonds, details of which will be published shortly. Kalahari will use the funds to satisfy its commitments with regard to the proposed A$91 million equity raising announced by Extract last week so as to maintain its stake.

Extract has announced that the proceeds of its proposed fund raising will primarily be used to accelerate and increase the drilling programmes for Zones 1 and 2 and to extend the regional exploration programme which will include areas of identified mineralisation located south of Zone 2.

Kalahari chairman Mark Hohnen said: "The Rossing South prospect continues to deliver outstanding results that underpin our confidence in the potential of this uranium prospect. Exploration lines in the newly identified Zone 3 have yielded some exceptional results which reinforce the potential of a third zone of mineralisation.”

Kalahari cited an Extract statement from yesterday saying that chemical assay results have confirmed strong uranium mineralisation 1.2 kilometres south of the current Zone 2 resource area. Reverse circulation drilling at the potential new zone returned 72 metres at 676 parts per million triuranium octoxide, including 35 metres at 866 ppm U3O8. Extract is confident that a second line of drilling, 400 metres to the South, will continue to extend and increase the known dimensions of mineralisation.

Extract Resources Managing Director Peter McIntyre, said: “The rapid growth of Zones 1 and 2 is now being complimented by the potential of a third zone of mineralisation along the same Rossing South trend. The potential of the entire 15 kilometre trend is enormous, with some degree of mineralisation being encountered on every line drilled to date."

Extensive exploration potential still remains to be tested throughout the Husab project with priority given to Rossing South.

One RC rig is currently drilling at the Salem prospect, approximately 10 kilometres south of Rossing South. Initial handheld spectrometer results on drill samples, from all the holes completed so far at Salem, are very encouraging - with numerous zones of uranium anomalism being returned, according to Extract.

Ambrian Capital issued a note on Kalahari, calling the news a double-wammy for Extract, and by extension Kalahari. It previously valued Kalahari at £2.19 per share, but has now suspended its valuation and recommendation pending admission of the new shares to trading.

Regarding the first results from Zone 3, the broker said this is the first hole released “and we expect more like it.” Although only one hole has been assayed chemically, the company map shows five more holes with good grades and widths from hand held spectrometry.

“With these new drill results confirming our speculative view of Zone 3, and Salem likely to add to this, we are now confident that the resource will ultimately reach 500 million pounds of U3O8, and may even exceed that,” it added.

 

[bigdog]

SP Sept 2 closed at $9.63 down 37 cents for the day.

http://www.proactiveinvestors.com.a...extract-resources-paladin-energy-20-2420.html

Wednesday, September 02, 2009

Is Extract Resources, Paladin Energy 2.0?
by Ross Louthean, Mineweb.net

The promotional bandwagon is now running for Extract Resources (ASX & TSX: EXT) with a brittle peace pipe apparently having been smoked over a schism between the company and its major shareholder AIM-listed but Perth-domiciled Kalahari Minerals that drew blood.

The bandwagon has in recent days seen the announcement of the massive capital raising to accelerate exploration at Rossing South, along strike from the famous Rossing mine controlled by Rio Tinto, as well as promising work on the Zone 3, seen as an extension of Zone 2 which has raised investor interest with medium to high grade and wide uranium intercepts.

Linked to this positive fanfare has been the release of a bullish study on Extract by London broker WH Ireland that cites blue sky for Zone 3, projections of lowered operating costs and a projection of an after-tax net present value of A$9.43 (£4.96) a share and a three year target share price of A$15.20 (£4.96).

Extract's share price at close on the Australian Stock Exchange today was A$10.

Drawing a comparison between Paladin Energy Ltd (ASX & TSX: PDN) and Extract does provide some analogies - Paladin became the world's biggest new uranium miner in Namibia with the Langer Heinrich mine operation and is moving forward with its second mine in Malawi.

Paladin had marvelous market timing through its perceptive managing director John Borshoff, which saw the company transform from a truly struggling penny stock to a multi billion dollar concern.

While Extract got into the Namibian field with excellent timing it did so early in the uranium boom and made a series of discoveries of profound uranium systems.

WH Ireland estimated that the Zone 1 and Zone 2 deposits at Rossing South and the nearby Ida South deposit contain, using a 100 ppm cut-off grade, 302 million tonnes grading 439 ppm U308for a contained 292 million lbs U308.

The London broker estimates that by 2014 the project could produce A$309.1 million in revenue for an operating surplus and EBIT of A$201 million, rising the following year to A$672 million for an operating surplus of A$472.8 million and an EBIT of A$436.8 million.

The uranium price projection for both years was $US65/lb, with an exchange rate for A$1 in both years rated at US$0.75.

The production rate was estimated at 15 million tonnes per annum and operating costs at US$23.60/lb U308.

Extract's managing director Peter McIntyre said there would be two tranches of capital raised:
- A one-for-35 non-renounceable offer of ordinary shares at A$7.75/share, seen as a 19.9% discount to raise A$50.7 million ($C46.43 M).
- Sale on an underwritten private placement basis of 5.2 M special warrants at A$7.75 per special warrant for a gross proceed of A$40.3 million (C$36.9 M). This placement would be made outside Australia and was expected to be made mainly in Canada and the United States.

 

[Uncle Barry]

Good morning Big Dog.
Many thanks for keeping this Forum updated with EXTRACT news.

I find it a bit odd, that there are no additions nor comments to add to your post by others here, maybe people just haven't researched EXTRACT here yet ?

I saw this and smiled and thought, good old experts,
"and a three year target share price of A$15.20 (£4.96"

They are always working from a yesterday point of view without doing in depth research, as much as they think they are !

Because research will show.
what has been discovered by EXTRACT, EXT, on their two leases is thought that there is still 70% to be 'un masked'.

Then to add to the potential total number of millions of pounds of U,
there are another 2 leases and still one under Application.

Add the above to the share price possible value and

Kind regards
UB
Trust you enjoy walking EXTRACT's yellow road.

 

[bigdog]

Extract Resources - Africa Downunder Conference 2009
- Mr Peter McIntyre, MD - EXTRACT RESOURCES LTD

Listen with slide show!

http://wotnews.com.au/like/3937156/3937156/

SP hit $10.10 this morning and currently $9.94 (down one cent)
-- volume 143,000 shares at 11:51 AM

My wife sold 1000 shares today!

 

[bigdog]

http://www.businessspectator.com.au...has-117m-FY09-loss-VWB6X?opendocument&src=rss

Extract Resources has $11.7m FY09 loss
Source: News Bites

Extract Resources Ltd reduced its loss to $11.7 million in the year to June 30, 2009 from a previous $14.1 million loss, on revenue up 5% to $1.2 million.

There was no dividend.

Cash was down 10.7% to $28.9 million.

Directors said the net assets of the economic entity have increased by $5.2 million from $98.6 million at June 30, 2008, to $103.8 million in 2009. The net increase has resulted largely from the net of capital raised from the exercise of options of $16 million, reduction in provision for deferred tax income recognised as tax benefit of $14.2 million and the net loss before income tax of $25.9 million incurred during the year ended June 2009.

Directors added that the accelerated exploration program is likely to result in an increase to level of expenditure incurred and require significant levels of cash flow, the company expects to complete feasibility studies on Rossing South during 2010 and the company expects to expand its activities and presence in Namibia.

STOCK DASHBOARD: September 15, 2009

Extract Resources

Price at 12:00 pm: $10.74

Price change from previous trading day: 0.3%

Relative Strength (6 months percentile rank): 91.3

Market capitalisation: $2.5 billion

Turnover volume: 176,705.0

Volume Index (1 is average): 1.1

Turnover value: $1.9 million

Turnover period: 1 year 11 months

Value of $1,000 invested 1 year ago: $9,118

Source: www.BuySellTips.com

 

[bigdog]

Extract is going gang busters this morning!!

High of 11.45 up 72 cents
Opened 10.75
Currently 11.29 up 56 cents @ 10:46

09/16/09 10:42:56 11.28 290
09/16/09 10:41:51 11.45 5,818
09/16/09 10:39:40 11.29 5,500
09/16/09 10:39:07 11.30 2,710
09/16/09 10:38:03 11.21 390
09/16/09 10:37:29 11.20 1,366
09/16/09 10:36:57 11.15 110
09/16/09 10:36:24 11.13 39
09/16/09 10:35:52 11.12 403
09/16/09 10:35:19 11.12 470
09/16/09 10:34:26 11.11 3,500
09/16/09 10:33:14 11.07 1,207
09/16/09 10:32:39 11.04 200
09/16/09 10:30:51 11.05 4,388
09/16/09 10:29:48 11.02 1,200
09/16/09 10:29:17 11.00 445
09/16/09 10:28:44 11.00 8,229
09/16/09 10:27:09 10.97 57
09/16/09 10:26:38 10.95 398
09/16/09 10:24:30 10.95 1,295
09/16/09 10:23:59 10.86 1
09/16/09 10:23:00 10.86 13,705
09/16/09 10:21:57 10.81 1,789
09/16/09 10:21:25 10.80 110
09/16/09 10:20:54 10.78 1,374
09/16/09 10:19:20 10.80 63
09/16/09 10:18:48 10.79 21
09/16/09 10:17:46 10.77 906
09/16/09 10:11:33 10.78 2,000
09/16/09 10:09:57 10.77 365
09/16/09 10:09:26 10.77 1,531
09/16/09 10:08:54 10.75 133
09/16/09 10:08:23 10.77 2,148
09/16/09 10:07:51 10.76 144
09/16/09 10:06:17 10.76 300
09/16/09 10:05:14 10.76 161
09/16/09 10:04:43 10.76 100
09/16/09 10:04:11 10.76 531
09/16/09 10:03:40 10.77 2,000
09/16/09 10:02:36 10.75 19,360

 

[Uncle Barry]

Good morning Bigdog.
Yes, its a very good morning for anybody that holds EXTRACT, EXT stock this morning

Already I've had a phone call from someone, asking whats going on, its way over priced.

Then comes a relection, of the very same kind of question that I've heard 100's of times and answered 100's of times.

Now my standard answer is just go and READ... thats all you have to do, just READ.

Today, I would take as a guess some people have read and saw the words from Mr Peter Mac, will be the biggest U mine in the World in his parting address/statement !

Therefore over bought....... I wouldn't think so, as the World of EXTRACT is only just starting, because with each day comes new giant discoverys,

WHICH
equals a growing demand from end users of U
Where they can contract in a supply life of 30 years or more
WHICH
equals a growning demand from share holders or potential share holder
WHICH
equals a ever increasing share price/cost

AND
in the future, $11's odd will seem cheap.
Kind regards,
UB
ps, yes of course I hold a wee bag of EXT stock and have for years

 

[bigdog]

Extract Resources - Africa Downunder Conference 2009
- Mr Peter McIntyre, MD - EXTRACT RESOURCES LTD

Listen with slide show!

http://wotnews.com.au/like/3937156/3937156/

Uncle Barry
-- Peter M reported the following in this presentation:

Continuing to test the remaining 9kms of RS.

The company expects to have a resource of well over 300Mlb by Christmas, growing to a resource bigger than McArthur River, (i.e around 500Mlb), by this time next year.

Zones 4 & 5 should be defined within 12-18mths.

Extract's production estimate of 15Mlb per annum, would put it a close second, to the worlds biggest producer McArthur River's at 16Mlb per anum.

Peter Mc believes that the next 12 months will be even more defining and exciting for Extract than the previous 12 months.

PM was thinking of changing the name of "Rossing South" to "Rossing Big".

287

 

[bigdog]

ASX ANN
16/09/2009 P McIntyre Resignation Effective from Today
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00988762

Media Release – Peter McIntyre resignation effective today

(ASX/TSX: EXT) (“Extract or ‘the Company) today announced that Peter McIntyre’s resignation from the company is effective as of today and the Company continues to seek a suitable replacement.

Steve Galloway, Chairman of the board of directors, said “The Company owes much of its progress to the vision and direction of Mr Peter McIntyre. Peter leaves behind a legacy that will prove to be a part of history as we strive to deliver one of the largest uranium mines in the world. Peter’s stewardship over the last five years has been well regarded and recognised by all.
As we move forward into the development phase of the operation, Extract will seek to enhance its local executive team, initially by appointing a Swakop Uranium CEO to accelerate the development of its Rossing South deposit whilst retaining its Australian base as it continues its move towards a
global company and a uranium producer”.

About Extract
Extract Resources is an Australian-based uranium mine development and exploration company whose primary focus is in the African nation of Namibia. The Company’s principal asset is its 100% owned Husab Uranium Project which contains two known uranium deposit areas: Rossing South; and Ida Dome. Extensive exploration potential also exists for new uranium discoveries, in addition to the already known occurrences.

Well done Peter and for the many EXT shareholders we have only you to thank for the state that the company is in today. Excellent job done.

I can only assume that you did not want to move to Namibia to live!

Director’s relevant interests in securities of which the director is not the registered holder
Name of holder & nature of interest ---------------------------------------------------- Number & class of securities
Labonne Enterprises Pty Ltd (Shareholder) -------------------------------------------------------------- 2,240,389 Ordinary fully paid shares
Pamela Clare McIntyre (Spouse) --------------------------------------------------------------------------- 1,400,244 Ordinary fully paid shares
Labonne Enterprises Pty Ltd ATF <McIntyre Family> (Shareholder and Beneficiary) ------------- 1,190,942 Ordinary fully paid shares
Labonne Enterprises Pty Ltd ATF <McIntyre Super Fund A/C> (Shareholder and Beneficiary) -- 603,488 Ordinary fully paid shares

 

[tambo66]

Marius Klopper eat your heart out...
Seriously, PM has been worth all of that and more so far as I am concerned

Now, if only we knew what his next big thing is going to be.

LT (small) holder.

 

[bigdog]

Uncle Barry & tambo66

KAH SP +4.91% last night

Share Price Information for Kalahari Min (KAH)
http://www.lse.co.uk/SharePrice.asp?shareprice=KAH&share=kalahari_min

Sep 16 Share Price: GBP 208.50 Change: +4.91%
52 Week High GBP 209.50 16-SEP-2009
52 Week Low GBP 20.75 52 17-AUG-2007

209.03 million Shares in Issue
Market Capitalisation £435.83m

EXT "Indicative Price" "open" SP is 11.46 at 9:53 AM today!!

The opening SP was $11.20

 

[bigdog]

RIO is a substantial shareholder in EXT

Did you know that currently RIO owns 20.5% of EXT
-- 15.11% of EXT plus 5.3% via Kalahari (13.5% of Kalahari's 39.98%)

EXT Top Holders: @ 14 Aug 09
01 KALAHARI URANIUM LIMITED 91,592,455 39.98%
02 RIO TINTO INTERNATIONAL HOLDINGS AUSTRALIA PTY LTD 34,621,402 15.11%
03 ZERO NOMINEES PTY LTD - Euroz Limited 19,686,796 8.59%
04 NATIONAL NOMINEES LIMITED 8,939,055 3.90%
05 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 7,330,399 3.20%
06 S G J INVESTMENTS PTY LTD 7,230,000 3.16%
07 J P MORGAN NOMINEES AUSTRALIA LIMITED 5,078,136 2.22%
08 CITICORP NOMINEES PTY LIMITED 3,711,786 1.62%
09 LABONNE ENTERPRISES PTY LTD 2,240,390 0.98%
10 ANZ NOMINEES LIMITED 2,175,424 0.95%
11 PORT BRASSEY PTY LTD 1,555,589 0.68%
12 M/S PAMELA CLARE MCINTYRE 1,400,244 0.61%
13 ERIDITUS PTY LTD 1,296,522 0.57%
14 CITICORP NOMINEES PTY LIMITED 832,321 0.36%
15 POLO AUSTRALASIA LIMITED (AUSTOCK) 704,237 0.31%
16 MR YI WENG & MS NING LI 696,920 0.30%
17 MR DAVID MICHAEL HONNER 675,000 0.29%
18 TASWA PTY LTD 648,262 0.28%
19 IRONSIDE PTY LTD 636,475 0.28%
20 REMBU PTY LTD 617,000 0.27%
......................TOTAL 191,668,413 83.67%
....Balance of Register 37,412,192 16.33%
............Grand TOTAL 229,080,605 100.00%


Kalahari Key Shareholders as at 27 August 2009
http://www.kalahari-minerals.com/Investor_Relations/Shareholder_analysis/default.aspx?id=15
Key Shareholders...................................................Number........Percent
1 Rio Tinto International Holdings Australia Pty Ltd 28,179,810 13.5%
2 Niger Uranium, Ltd.........................................27,680,000 13.2%
3 M&G Investment Management .........................20,075,000 9.6%
4 Emerging Metals Limited..................................17,600,000 8.4%
5 Coronet Resources Limited...............................16,000,000 7.7%
6 Blakeney Management Limited..........................13,440,000 6.4%
7 New City Investment Managers.........................7,336,667 3.5%
8 Eden Group...................................................6,728,694 3.2%
9 Regent Pacific Group.......................................6,532,898 3.1%

533

 

[bigdog]

http://au.news.yahoo.com/thewest/bu...act-boss-quits-top-job-on-a-share-price-high/

Extract boss quits top job on a share price high
KATE EMERY, The West Australian September 17, 2009, 7:08 am Send

Extract Resources managing director Peter McIntyre has officially stepped down from the top job on a day when shares in the uranium junior soared to a new all-time high.

Mr McIntyre will leave Extract with a stake in the company valued at more than $60 million, after its shares closed up 44 ¢ at $11.17 yesterday.

His departure, flagged in June, came as Extract said it had raised $40.3 million through a placement at $7.75 a share.

According to a notice filed with the Australian Securities Exchange, Mr McIntyre indirectly holds 5.44 million Extract shares which, based on the group's closing share price, are worth $60.8 million.

Mr McIntyre's replacement has yet to be announced but the company is looking for both a Namibian-based chief executive and a Perth-based managing director.

Mr McIntyre, who has been mainly credited with developing Extract from an exploration minnow to a $2.6 billion takeover target, has officially described his reasons for leaving the company as personal. But the move is widely understood to be in response to attempts from major shareholder Kalahari Minerals to unseat him.

Extract has been one of the Australian sharemarket's best performing stocks, up 750 per cent since the start of the year, amid persistent speculation it is likely to face a takeover bid from 15.6 per cent shareholder Rio Tinto.

The group's Rossing South project in Namibia, where it recently boosted its resource to 267 million pounds of uranium with a 487 parts-per-million cut-off, is shaping up as one of the world's bigges7t deposits

SP is currently down 34 cents at 10.83 at 3:19 PM