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Comments on this blog should never be taken as investment advice


Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. Sparty's posts nearly always relate to companies that he either holds, has held or intends to hold.

Main ForumExtract -World's 2nd largest Uranium mine 5th largest Uranium resource

  • Great news in EXT's just released quarterly announcements.... $86m in the bank, a corporate play looming and on track to develop the world's second largest uranium mine..... I hold EXT.

    Husab Project Update

    • Completed Definitive Feasibility Study on Zones 1 and 2 (DFS) of the Husab Uranium Project, which will become one of the three largest uranium mines in the world.
    • Maiden reserve estimate for Zones 1 and 2 of 205 million tonnes at 497ppm for 225 million lbs contained uranium.
    • Significant upside potential from Mine Optimisation and Resource Extension (M.O.R.E.) programme. Next resource update scheduled for Q2, 2011.
    • Outstanding initial chemical assay results received from Middle Dome highlighting this prospect as a priority exploration target.
    • Approval of Husab Uranium Project EIA received in January 2011.
    • EPL 31838 exploration license successfully extended for two years.

    Corporate

    • CGNPC- URC announced a possible cash offer for Kalahari Minerals, our major shareholder. The Australian Securities and Investments Commission (“ASIC”) expected to respond shortly to CGNPC’s request to seek a waiver to acquire more than 20% of Extract’s issued share capital.
    • Partnership process continues to evaluate opportunities to add value to the Husab Uranium Project through alternative development strategies.
    • Extract raised $60.9 million by a placing of 7.3 million shares to Kalahari Uranium Limited, a subsidiary of AIM listed Kalahari Minerals Ltd.

    hsuab.gif

  • But do NOT forget to check out GGG with their free REEs and 3b tons of Zinc and AEE the world's cheapest and most likely larger than EXT's uranium resource.....

    Buy in gloom!

    I hold EXT, GGG and AEE.

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