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Yeah, the grades were always going to be good. If they had have produced that JORC 18 months ago the stock would have trippled.

How's the MC of BMN v EXT at the moment?
 
Further ASX ANN today
30/01/2009 Significant assays Rossing South Zone 2 and Ida Dome
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00922860

Market liked the ANN
EXT 1.505 +0.055 +3.79% 103,734 shares $155,246 @ 30-Jan 11:58:37 AM

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00922860

Rossing South - Zone 2 and Ida Dome

Recent significant chemical assays

ROSSING SOUTH – Zone 2
Chemical assay results confirm massive mineralised system with multiple zones of high grade uranium mineralisation, including 78m @ 651 ppm U3O8.

Uranium mineralisation defined over a strike length of two kilometres, also open along-strike and down-dip.

IDA DOME
Chemical assay results continue to confirm high grade uraniferous leucogranites, including 6m at 17,135 ppm (1.71%) U3O8.

All prospects open along strike and down dip with significant potential to expand the current resource base.

South Perth, Western Australia – January 30 2009
– Extract Resources (“the Company”) today announced that, in addition to the recently completed Rossing South Zone 1 resource estimate of 108 m. lbs of U3O8 at a grade of 430 ppm (ASX release 27 January 2008), a backlog of assay results from Rossing South Zone 2 and Ida Dome have returned some outstanding intersections.

The Husab Uranium project is strategically located in the centre of the globally significant Namibian alaskite uranium province and still remains largely unexplored. Future exploration work will follow up on this potential targeting known exposed uraniferous alaskites and concealed targets.

Rossing South - Zone 2
At the same stage of exploration, Zone 2 has returned similar widths and grades of uranium mineralisation to Zone 1. Once sufficient drilling has been completed the maiden Zone 2 resource will begin to quantify the enormous potential of this prospect; this is scheduled for August 2009. Highlights from recently received drilling results are shown in the following table with a complete list of drill hole intersections shown in Appendix 2.

Zone 2 has been defined over a strike length of 2.0 kilometres and is open along strike and down dip (Figure 2). Resource definition drilling on 100 x 100 metre spacing is in progress.

Ida Dome
The Ida Dome prospects have returned significant zones of uranium mineralisation. Given the outstanding exploration success at Rossing South, further exploration drilling has been reprioritized; however, outstanding drilling results have been returned from all prospects drilled, with some of the recent results from Holland’s Dome highlighting the potential of this area. Results such as 6m @ 1.71% (17,135 ppm) U3O8 from 81 metres, within a zone of altered alaskite, illustrate the quality of the Ida Dome prospects.

Ida Dome presently contains a large uranium endowment (ASX release 7 August 2008) with resources of 25.1 m.lbs U3O8 defined. Future drilling is expected to significantly increase the resource base with all prospects drilled still open along strike and at depth. Potential exists for Ida Dome to support a stand alone mining operation or become a satellite operation to Rossing South. All options for this area are under consideration.
 
Extract Resources trading halt announcement today
02/02/2009 Trading Halt
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00923932

Pending results of a scheduled general meeting at 10:00 AM today (assume AWST)

SP closed at $1.62 on Friday Jan 30!

Enclosed is a Notice of General Meeting for a Meeting of the Shareholders of Extract Resources Limited (Extract or Company) to be held at 10.00am on Monday, 2 February 2009.

The Meeting has been requisitioned under Section 249D of the Corporations Act by Kalahari Minerals Limited (a wholly owned subsidiary of AIM listed Kalahari Minerals Plc) (Kalahari), a 39.38% Shareholder in Extract. Kalahari is seeking the removal of your Chairman, Mr Bob Buchan, as a director of the Company.

In this situation, the Board is cognisant of its duty to act in the best interests of all shareholders by informing them fully and fairly, so that they may make an informed decision regarding the composition of the Board that will be entrusted to guide the Company through a critical period for its business.

The Board of the Company presently comprises six directors, two of whom are Kalahari appointees (Mr Neil MacLachlan and Mr Stephen Galloway). Given the conflicts that arise for the Board as a result of Kalahari requisitioning the meeting, on legal advice, the Board has formed a committee of the non-associated directors, being Messrs Peter McIntyre, Steve Sikirich and Peter Meagher (Non-Associated Committee*), to handle matters pertaining to this Meeting on behalf of the Board.

You will be aware that Kalahari Minerals Plc and Extract sought to merge recently, but the merger was terminated by Kalahari Minerals Plc, which stated that it did not have the support of a number of its largest shareholders. Under the merger, Extract directors Messrs Buchan, MacLachlan and Meagher had agreed to retire.
 

it was a very close vote, like one or two large blocks againts you make it extremely difficult winning.
 
shag said:
it was a very close vote, like one or two large blocks againts you make it extremely difficult winning.
Click to expand...

SP up 10 cents this morning
EXT 1.70 +0.100 +6.25% 36,491 shares $61,564 @ 03-Feb 10:24:18 AM

Following the General Meeting of Extract Resources Limited held today at 10:00am, we advise that the outcome of the resolution to remove Mr Buchan as a director of the Company was passed at the meeting by a poll.

Details of voting on the resolution was as follows:-

For the resolution - 99,041,046 shares representing 197 shareholders

Against the resolution - 87,203,759 shares representing 598 shareholders

Abstaining from voting - 542 shares representing 1 shareholders
 
ASX ANN today
8:27 AM Requisitioned Meeting Removal of Directors and Court Applic
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00924539

There seems to be many problems associated with running this business and its relationship with Kalahari!

SECTION 249D REQUISITION FOR THE REMOVAL OF DIRECTORS AND APPLICATION TO THE SUPREME COURT OF WESTERN AUSTRALIA

Extract Resources Limited (the Company) advises that on 3 February 2009, it received another requisition from Kalahari Uranium Limited (Kalahari), a company incorporated in the Isle of Man, pursuant to section 249D of the Corporations Act 2001, requesting that the Company convene a further meeting of shareholders to move resolutions to seek the removal of Messrs Steve Sikirich and John Main as directors of the Company, with effect from the date of such additional meeting.

In addition to this the Company is advised by its solicitors that documents have today been filed on behalf of Kalahari (as Second Plaintiff) and Kalahari Minerals Plc (as First Plaintiff) in the Supreme Court of Western Australia in relation to the board appointment of Mr John Main as a non-executive director of the Company.

The Company is once again seeking legal advice in relation to these matters and will keep shareholders informed in due course.
 
Becoming a real power struggle at EXT with the two groups fighting for control - this is not VG!

ASX ANN today
05/02/2009 Request for Meeting - Removal of Meagher and MacLachlan
http://www.asx.com.au/asx/statistic...=', '00925043', 'Announcement');return false;

SECTION 249CA REQUISITION FOR THE REMOVAL OF DIRECTORS – MEAGHER & MACLACHLAN

Extract Resources Limited (the Company) advises that on 5 February 2009, it received a requisition from Mr Steve Sikirich, a director of the Company, pursuant to section 249CA of the Corporations Act 2001, requesting that the Company convene a meeting of shareholders to move resolutions to seek the removal of Messrs Neil MacLachlan and Peter Meagher as directors of the Company, with effect from the date of such meeting.



04/02/2009 Requisitioned Meeting Removal of Directors and Court Applic
http://www.asx.com.au/asx/statistic...=', '00924539', 'Announcement');return false;

SECTION 249D REQUISITION FOR THE REMOVAL OF DIRECTORS AND APPLICATION TO THE SUPREME COURT OF WESTERN AUSTRALIA

Extract Resources Limited (the Company) advises that on 3 February 2009, it received another requisition from Kalahari Uranium Limited (Kalahari), a company incorporated in the Isle of Man, pursuant to section 249D of the Corporations Act 2001, requesting that the Company convene a further meeting of shareholders to move resolutions to seek the removal of Messrs Steve Sikirich and John Main as directors of the Company, with effect from the date of such additional meeting.

In addition to this the Company is advised by its solicitors that documents have today been filed on behalf of Kalahari (as Second Plaintiff) and Kalahari Minerals Plc (as First Plaintiff) in the Supreme Court of Western Australia in relation to the board appointment of Mr John Main as a non-executive director of the Company.

The Company is once again seeking legal advice in relation to these matters and will keep shareholders informed in due course.


Other ANN this week have been
02-02-2009 06:49 PM EXT Final Director`s Interest Notice
02-02-2009 06:12 PM EXT Election of Chairman - Mr Peter McIntyre
02-02-2009 01:28 PM EXT Appointment of Director - John Main
 
http://www.thewest.com.au/default.aspx?MenuId=32&ContentID=122943

Extract set for more battles with Kalahari
4th February 2009, 13:15 WST

Uranium explorer Extract Resources looks set for another stoush with its 39 per cent shareholder Kalahari over the appointment of John Main as a director of the company.

Mr Main was appointed as a non-executive director after an extraordinary general meeting on Monday during which shareholders voted to remove the company’s chairman Robert Buchan.

Kalahari requisitioned the meeting and used its weight of votes to oust Mr Buchan but Extract immediately announced it would appoint Mr Main as a non-executive director.

Kalahari has since requisitioned another meeting calling for the removal of Mr Main and another director Steve Sikirich.

The company argues Mr Main has close ties to Rio Tinto, which would jeopardise shareholder value in the Rossing South project in Namibia by handing undue influence to the mining giant.

Extract announced a 108 million pound uranium resource at Rossing South last month, with further resource upgrades expected.

Rio Tinto owns the neighbouring Rossing project.

Kalahari has also launched Supreme Court action to remove Mr Main.

Extract said it would seek legal advice in relation to the move and keep shareholders informed of developments.

Extract shares were up four cents, or 2.47 per cent, to $1.66.
 
i hope they remove MacLachlan and Meagher, and end this whole thing.

cant be good having a kalahari monopoly on the board
 
ASX ANN yesterday

SP up this morning - just up
EXT 1.525 +0.035 2.35% high of 1.525 47,668 shares $71,752 @ 11-Feb 10:25:34 AM

10-02-2009 04:10 PM EXT Rossing South Met Test Work Update

Rossing South – Positive Metallurgical Test Work Results

Highlights
• Scoping level metallurgical test work on samples from Rossing South Zone 1 and Zone 2 return positive results.

South Perth, Western Australia – February 10 2009 – Extract Resources (“the Company”)

The Company has previously reported initial metallurgical test work on core samples from diamond drill hole RDD002 which demonstrated very good recoveries in excess of 90% could be achieved at a grind size of 106 µm and 1 mm. Subsequent reconnaissance bottle roll acid leach tests on samples from four RC drill holes demonstrated recoveries in excess of 90% in 3 of the holes tested, and 40% to >90% in four mineralised intervals in the fourth hole.

While at a very early stage, these positive results are consistent with the known uranium metal recoveries historically returned from the nearby Rossing Uranium Mine, where approximately 95% of the uranium minerals are responsive to conventional acid leach processing. The Rossing operation is known to consistently return recoveries of about 90% U3O8.

A comprehensive metallurgical test work program based on NQ core from 19 drill holes has been initiated and results are expected to be available from May 2009, onwards. These drill holes will provide representative samples along strike and at varying depths of the known extents of uranium mineralisation at Rossing South. This will allow a better understanding of the deposit mineralogy and acid leach extraction rates, and will be a critical input to the feasibility study. Further results will be released as they become available.

The Australian Nuclear Science and Technology Organisation Minerals Division (ANSTO Minerals) have been selected to assist the Company with future mineralogical and metallurgical test work. ANSTO Minerals uranium capability and expertise is world renowned and the Company is pleased to have engaged the services of such an experienced group.
 
SP is on the move today with VG volume if first 14 minutes!

EXT 1.85 +0.230 +14.20% high of 1.855 188,285 shares $330,779 @ 13-Feb 10:16:05 AM

Date…..... Close Volume
12-Feb-09 1.62 296,884
11-Feb-09 1.55 189,485
10-Feb-09 1.49 265,213
09-Feb-09 1.56 193,067
06-Feb-09 1.52 187,016
05-Feb-09 1.60 264,728
04-Feb-09 1.68 296,468
03-Feb-09 1.62 118,430
02-Feb-09 1.60 199,568
30-Jan-09 1.62 345,828
29-Jan-09 1.45 548,789
28-Jan-09 1.47 236,920
27-Jan-09 1.47 325,880
23-Jan-09 1.47 0
22-Jan-09 1.47 0
21-Jan-09 1.47 125,395
20-Jan-09 1.35 54,906
19-Jan-09 1.42 42,562
16-Jan-09 1.49 91,763
15-Jan-09 1.40 181,419
14-Jan-09 1.48 209,513
13-Jan-09 1.45 176,773
12-Jan-09 1.45 230,672
09-Jan-09 1.36 53,204
08-Jan-09 1.40 238,746
07-Jan-09 1.50 441,987
06-Jan-09 1.56 400,642
05-Jan-09 1.37 254,879
02-Jan-09 1.33 62,050
31-Dec-08 1.32 17,278
 

Attachments

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Yeah looking good.

Looks to have finally broken that 130-140 resistance zone that if some of you remember was the the 13-14c resistance mark a few years back. Should be very good support if it retraces to that point now.

I think there may be some switching from BMN to EXT going on here.
 

Attachments

  • EXT.gif
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Kennas & bigdog,

Can I trouble you guys to explain what you think Kalahari's agenda is in stirring up the management so? Merger or T/O ideas in their heads again may be? The constant distraction can't be helpful to the smooth running of EXT during this time of opportunity.

Cheers,

Kenny
 
Kalahari Minerals has been buying EXT

http://www.londonstockexchange.com/...rices.htm?sym=GB00B117S132GBGBXAIM B117S13KAH

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2086372&source=RNS

Regulatory Announcement
Go to market news section View chart
Company Kalahari Minerals PLC
TIDM KAH
Headline Holdings in Extract Resources Ltd
Released 07:00 09-Feb-09
Number 9674M07

RNS Number : 9674M
Kalahari Minerals PLC
09 February 2009


Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration

9 February 2009

Kalahari Minerals plc ('Kalahari' or 'the Company')

Holdings in Extract Resources Ltd


Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of copper, base metal and uranium interests in Namibia, through its wholly owned subsidiary Kalahari Uranium Limited, has, since 18 December 2008, purchased 1,463,848 Ordinary Shares in Extract Resources Ltd (ASX and TSX: EXT) ('Extract') for an average price of AU$1.21 per share. Kalahari is now interested in 84,520,985 ordinary shares in Extract representing approximately 39.73% of the total voting rights of Extract.

In addition, the Company has purchased 1,856,410 options in Extract at an exercise price of AU$1 per option ('Options'), with an expiration date of 28 March 2009. The exercise of these Options will inject AUD$1.8 million additional working capital into Extract. On exercise of the Options, Kalahari will have a total interest of 86,377,395 ordinary shares in Extract.
 
Back in 2007 Kalahari disposed of its uranium assets to Extract Resources for 66.7 million shares in EXT

Perhaps KAH are trying to control again since outstanding reports of Uranium!

29 March 2007
Kalahari Minerals plc (‘Kalahari’ or ‘the Company’) Completed Consolidation of Uranium Projects

Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of copper and base metal prospects in Namibia, is pleased to announce the completion of the disposal of its uranium assets (“the Disposal”) to Extract Resources Ltd (ASX: EXT) ("Extract").

All conditions have now been met including the issue to Kalahari’s subsidiary, Kalahari Uranium Limited (‘Kalahari Uranium’), of 66.7 million new ordinary shares in Extract and the completion by Extract of an A$15 million capital raising. Following the issue of these shares and the capital raising, Kalahari Uranium holds a 36.4% interest in Extract on an undiluted basis and 34.3% on a fully diluted basis. This values Kalahari Uranium’s shareholding in Extract at approximately A$66 million (£26.4 million) based on the closing mid market price of Extract at 26 March 2007.

Kalahari Chairman Mark Hohnen said, “The completion of this transaction will enable us to focus on our copper and new base metal assets, whilst at the same time, through our major holding in Extract, ensure our continued exposure to the potential upside of these uranium prospects. Importantly, it should be noted that when we joined AIM in March 2006, our valuation was attributed primarily to our copper assets. With our uranium stake in Extract currently worth approximately £26.4 million and a market cap for Kalahari of around £28 million, it is clear that the value of these uranium assets has not been truly reflected in our share price.”
 
SP is still rolling along
EXT 1.86 +0.240 +14.81% high of 1.865 637,778 shares $ 1,161,340 @ 13-Feb 02:31:05 PM


ASX ANN today
13/02/2009 Update to Kalahari Legal Action 13 Feb 2009

Extract Resources Limited (the Company) advises that the result from today’s directions hearing was that a further directions hearing before a justice of the Supreme Court of Western Australia has been scheduled for February 20th 2009.

Extract Resources Limited (the Company) advises that the result from today’s directions hearing was that a further directions hearing before a justice of the Supreme Court of Western Australia has been scheduled for February 20th 2009.
 
bigdog said:
SP is still rolling along
EXT 1.86 +0.240 +14.81% high of 1.865 637,778 shares $ 1,161,340 @ 13-Feb 02:31:05 PM
Click to expand...

SP is continuing upward trend this morning +12 cents to $1.94 and high of $1.95

EXT 1.94 +0.120 +6.59% high of 1.95 154,248 shares @295,272 @ 16-Feb 11:24:30 AM


I have been a long term follower and holder of EXT!
 
Yes the holders of thi one have done very well. I could have been one of them, but chose to go with Bannerman and got them at 90c and now down 20c and could have got EXT at $1.20 but got BMN as friend had them and they were trending up for along time previous. I curse everyday I see EXT head skywards and BMN doing nothing.
 
Thanks bigdog for the recap. I hope your EXT's are putting a smile on your dial.

I have to wonder how much of the recent surge is speculative buying in anticipation of some news from Friday's court hearing. The alternative hinted at by the recent announcement would be speculation regarding RIO involvement through it's Kalahari holding.

Cheers,

Kenny
 
Trading halt on EXT with announcement pending:

A new announcement has been released for EXT
Summary: More Strong Results Rossing South Zone 1 and 2
Announcement number: 438981
Release time: 25/02/2009 10:44:00 AM
Price sensitive: Yes

Good luck to all holders
 
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