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EXTRACT RESOURCES LTD

ASX: EXT

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

One of the world’s foremost emerging uranium companies, Extract Resources Limited is focused on developing the Husab Uranium Project in Namibia, the world’s fifth-largest known primary uranium deposit.

Headquartered in Perth, Australia, Extract is an international business, with offices in London and Swakopmund and Windhoek, Namibia, and stock market listings in Australia (ASX), Toronto (TSX) and Namibia (NSX).

Extract’s operational focus is on the 100%-owned Husab Uranium Project in Namibia, where a successful exploration programme has defined JORC-compliant Indicated Mineral Resources of 257 million pounds of U308 and Inferred Resources of 110 million pounds of U308. The Husab Uranium Project is the largest in-situ, and highest grade, granite-hosted uranium deposit in Namibia, and Extract expects its ongoing and future drilling programmes to add to this resource.

Extract plans to develop the Husab Uranium Project to produce 15 million pounds of U308 a year, a rate of production that would place Husab among the world’s largest producing uranium mines, second only to the McArthur River mine in Canada.

The transformation from explorer to developer, and ultimately producer, is already underway with a Definitive Feasibility Study for the Husab Uranium Project scheduled for completion in the first quarter of 2011. To support that transformation, Extract has assembled an accomplished executive management team with decades of experience, including of developing major mines in Namibia.

Extract is focused on converting the substantial uranium resource at Husab into the greatest sustainable value for all stakeholders. The company has a supportive international shareholder base including major shareholders Kalahari Minerals, Rio Tinto and Itochu Corp.

As Extract moves towards production, the company recognises the important role that its operations will play in Namibia, including employment, development of local and national industry and infrastructure and a direct contribution to the Namibian economy through tax and royalty payments.

Extract’s presence in Namibia continues to grow, and as that presence increases, the company intends to develop appropriate social and community programmes to support its involvement in Namibia, as well as ensuring that the uranium industry develops in a sensitive and sustainable manner.

Mine For

uranium

Location of operation(s)

Namibia

Address

30 Charles Street
SOUTH PERTH, WA, AUSTRALIA

Phone

+61893672111

Email

Website


Last Updated

12/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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