EXT - Excite Technology Services

[Sean K]

The grades really are extraudinary for granite hosted stuff in Namibia. 1000ppm plus simply blows the likes of BMN out of the water. Must be the reason BMN has been smashed and stays on the canvas. Why would you choose to invest in a 200ppm deposit when you can get this, which looks like having just as many pounds in it. I always thought BMN would be taken over, but why would anyone do that when this is saying mine me please. I've certainly been backing the wrong horse in this derby. Time to change colours me feels.

 

[bigdog]

ASX ann yesterday
10:44 a.m. 25th February 2009

Extract Resources - Strong Results - Rossing South Zone 1 and Zone 2

SOUTH PERTH, Western Australia, Feb. 25 /CNW/ - Extract Resources ("the Company") today announced multiple high grade chemical assay results from Rossing South.

Highlights:

- Massive zones of high grade alaskite hosted uranium mineralisation continue to be intersected at Rossing South.

- Rossing South Zone 1 drilling increases the known dimensions of uranium mineralisation with future resource upgrades expected to boost the 108M. lb U(3)O(8) resource presently defined (ASX release 27 January 2009).

- Rossing South Zone 2 infill resource definition drilling ongoing to define maiden resource estimate.

These results reconfirm that Rossing South is the highest grade granite hosted uranium deposit in Namibia and the project continues to shape up as one of the largest uranium deposits in the world.

The intersection of 73 metres grading 1060 ppm U(3)O(8) on Zone 2, is from a core hole drilled 200 metres north of the best section of uranium mineralisation drilled thus far on Zone 2 (7503600 North). This drill hole indicates that the strong zone of mineralisation remains open with good apparent continuity of width and grade (Figure 1, 2 and 3).

Several of the other results reported (e.g. RDD009, RRC186, 188 and 189) are located towards the southern end of Zone 1. These results also confirm the continuity of the high grade uranium mineralisation defined at Zone 1 and the expectation of similar results further south along strike where drilling is yet to be completed.

To date only six kilometres of the 15 kilometre Rossing South trend has been explored. Once exploration drilling resumes on this trend the Company is confident of further discoveries of uraniferous alaskite.

 

[bigdog]

The share price has been up and down today
$2.50 +0.180 +7.76% high of $2.61 & low of $2.37 383,556 shares $958,664 at 02-Mar 01:05:01 PM

I have observed that there have been many low trades for 2 and 3 shares both buying and selling.
-- Currently, there have been 46 trades (of total 174 trades) today for 3 to 6 shares!

IMO it would not be public persons buying and selling 2 and 3 shares!

IMO these actions seem to be trying to influence the SP!



Today: 02-Mar-2009
Time------ Prc.. Vol Value Condition Codes
12:49:23 2.49 2 5
12:45:23 2.49 2 5
12:39:23 2.49 3 7
12:33:08 2.49 2 5
12:30:04 2.49 2,086 5,194
12:28:23 2.49 2 5
12:23:24 2.49 3 7
12:20:09 2.49 2 5
12:14:23 2.49 3 7
12:11:23 2.49 2 5
12:06:53 2.49 3 7
12:05:08 2.49 2 5
11:59:08 2.49 3 7
11:56:24 2.49 320 797
11:51:08 2.49 5 12
11:49:09 2.49 2,200 5,478 XT
11:48:28 2.49 4,000 9,960
11:47:55 2.49 2 5
11:47:55 2.51 583 1,463
11:42:53 2.51 2 5
11:41:40 2.51 1,415 3,552
11:35:32 2.5 4,431 11,078
11:35:32 2.5 500 1,250
11:35:32 2.5 5,500 13,750
11:35:32 2.51 3,000 7,530
11:35:32 2.53 1,569 3,970
11:35:04 2.53 1,426 3,608
11:34:03 2.55 150 383
11:33:50 2.57 190 488
11:33:50 2.57 305 784
11:31:43 2.55 2 5
11:31:42 2.55 2,500 6,375
11:31:42 2.55 3 8
11:29:38 2.54 3 8
11:25:08 2.54 2 5
11:20:53 2.54 3 8
11:20:21 2.55 1,831 4,669
11:14:12 2.55 2,000 5,100 XT
11:13:42 2.55 81 207
11:13:42 2.55 9,721 24,789
11:13:42 2.56 198 507
11:13:02 2.56 3 8
11:12:59 2.55 279 711
11:12:59 2.55 621 1,584
11:08:51 2.56 2 5
11:08:50 2.55 3 8
11:08:50 2.55 4,376 11,159
11:02:29 2.55 624 1,591
10:57:40 2.55 3 8
10:57:40 2.55 2 5
10:57:40 2.55 371 946
10:57:05 2.55 3,000 7,650
10:53:34 2.55 5,000 12,750
10:53:34 2.55 1,629 4,154
10:51:16 2.55 3,365 8,581
10:50:34 2.55 3 8
10:50:34 2.55 3 8
10:50:23 2.55 376 959
10:49:53 2.55 3 8
10:48:54 2.57 995 2,557
10:38:40 2.6 500 1,300
10:37:57 2.6 1,500 3,900
10:37:57 2.6 624 1,622
10:36:52 2.6 3,666 9,532
10:36:52 2.61 1,000 2,610
10:36:52 2.61 334 872
10:36:34 2.6 11,208 29,141
10:36:34 2.59 2 5
10:36:29 2.6 11,792 30,659
10:36:29 2.6 400 1,040
10:36:29 2.6 10,000 26,000
10:36:29 2.59 3 8

 

[Sean K]

IMO it would not be public persons buying and selling 2 and 3 shares!

IMO these actions seem to be trying to influence the SP!

What do you mean by this bigdog?

Are big players trying to force the price down so they can get it cheaper for their clients? Or, for those trying to sell....

I don't understand this bot buying thing.

 

[bigdog]

What do you mean by this bigdog?

Are big players trying to force the price down so they can get it cheaper for their clients? Or, for those trying to sell....

I don't understand this bot buying thing.

Kennas, what is your opinion of significant low volume trades for 2 and 3 shares both buying and selling?

It is not the public trading for 2 and 3 shares as they will be paying brokerage charges!

 

[Sean K]

Kennas, what is your opinion of significant low volume trades for 2 and 3 shares both buying and selling?

It is not the public trading for 2 and 3 shares as they will be paying brokerage charges!

As I said above I don't really understand the robot buying that goes on with some stocks. It's obviously not an individual at home on their Etrade account. I don't think there's anything sinister about this it's just automated buying by a broker. Not share price manipulation. Someone else will have a better explanation I think.

EXT seems to be sailing green in a sea of red at the moment. Nice.

 

[prawn_86]

bigdog and kennas,

sometimes bot buying can mean capping or whatever you want to call it, its hard to prove though.

It could also mean a firm dollar cost averaging for a client, ie - the client says "i want X shares at an average price of Y" so the broker sets his bot going.

It could also be used for mark to market valuations. If they need to update their portfolio values a broker will buy/sell a small amount of stock so there is a record at that exact time of what their holding is worth.

Could be any of the above (or others i dont know about) so not much point in specualting...

 

[bigdog]

SP today is rising

EXT $2.55 +0.100 +4.08% high of $2.65 low of $2.45 with 906,996 shares traded $ 2,303,770 @ 03-Mar 11:19:07 AM

Todays volume after 77 minutes (906,996 shares) is the highest volume for the 2009 and based on todays current time & volume; todays volume could be at 4th, 5th ot 6th highest volume for the past 12 months[/B]

Date........ Close. Volume
09-Sep-08 1.220 24,940,659
18-Sep-08 1.060 5,766,387
30-Apr-08 1.040 5,486,220
03-Oct-08 1.135 1,928,716
24-Sep-08 1.140 1,862,624
10-Sep-08 1.210 1,117,088
19-May-08 1.185 1,055,300
23-Sep-08 1.120 1,051,515
15-May-08 1.175 997,121
11-Sep-08 1.250 908,441

 

[bigdog]

EXT $2.53 +0.080 +3.27% high of $2.68 low of $2.45 1,659,819 shares $4,254,404 @ 03-Mar 04:10:08 PM

The volume today was large in early trading, but the volume dropped off; but still a VG day

Date........ Close. Volume
09-Sep-08 1.220 24,940,659
18-Sep-08 1.060 5,766,387
30-Apr-08 1.040 5,486,220
03-Oct-08 1.135 1,928,716
24-Sep-08 1.140 1,862,624

 

[Sean K]

EXT $2.53 +0.080 +3.27% high of $2.68 low of $2.45 1,659,819 shares $4,254,404 @ 03-Mar 04:10:08 PM

The volume today was large in early trading, but the volume dropped off; but still a VG day

Date........ Close. Volume
09-Sep-08 1.220 24,940,659
18-Sep-08 1.060 5,766,387
30-Apr-08 1.040 5,486,220
03-Oct-08 1.135 1,928,716
24-Sep-08 1.140 1,862,624

bigdog, this adds NOTHING to the discussion of EXT neither fundamentally nor technically.

Why post this?

 

[bigdog]

Two ASX ANN today

06/03/2009 Half Yearly Accounts at December 2008
Loss for the half year attributable to equity holders. (13,235,227)
Employee benefits expense (1,177,771)

Assets:
Cash and cash equivalents $20,598,555 -- $32,394,138 at June 30 2008

Total equity 85,230,448
-----------------------------------------------------------------------

06/03/2009 SandP Announces March SP/ASX Index Rebalance
EXT is now included in S&P/ASX 300

 

[dj_420]

I have already posted this on HC but thought I would put it here so anyone interested can have a look at a few rough calculations for resource valuations.

A couple of points to make

Firstly a few people have eluded to EXT been over-valued at this point on some threads I have read, a couple of simple calculations shows us a different story:

At 130 million pounds of uranium just in Rossing South and Ida Dome at market cap based on todays price ($568 million, this is what Comsec shows from today) shows a value of $4.37 per pound of uranium.

The directors have outlined that they expect the next resource statement to be between 240-250 million pounds of u. If this is the case then we will see our valuation be revised back down to $2.27 to $2.37 per pound of uranium.

Now todays spot price is US $43 which at current exchange rates is AUD $67.25. Based on this we get an in ground value of current resources at AUD $8.742 billion, our current valuation is 6.5% of the current total resource.

Based on the assumption that we will prove up 240-250 million pounds we will see a in ground resource value of AUD $16.14 to 16.81 billion. At current market cap this is a 3.37 to 3.52% of total in ground resource valuation.

Now based on the fact that this project is now seriously de-risked as an explorer status I would see very fair value as been around that 5-6% mark (conservatively).

If we prove up 240-250 million pounds we get valuations of (based on 220 million shares, not sure of exact amount including options, but close enough):

5% of in ground value we get a share price of AUD $3.66 to 3.82

6% of in ground value we get a share price of AUD $4.40 to 4.59

If for examples sake we run a valuation of 10% of in ground value we get a share price of AUD $7.34 to 7.64, BUT just remember even at a 10% value of inground resource this is a valuation of AUD $6.725 or US $4.29 per pound, leaving a lot of room for upwards movements.

So IMO with a conservative outlook we will see a nice increase to maintain fair value of the 5-6% mark and assuming we prove up the 240-250 million pounds we can expect a 40-60% increase over the coming months... assuming we don't have an offer on the table by then.

 

[bigdog]

ASX ANN March 10
09/03/2009 Board Changes / Settlement with Kalahari

Extract Resources Limited (the Company) advises that under unanimous agreement reached between all members of the board and with Kalahari Minerals plc (Kalahari) and its subsidiaries,

Also under the agreement reached Kalahari has undertaken to seek dismissal of all current legal action pertaining to the appointment of Mr John Main and has given the Company notice that its request to call for a meeting to remove Mr Main and Mr Sikirich has been withdrawn.

The Board is very pleased that it can now put this dispute behind it and move forward in tune with its management and staff to continue progressing its world class projects to the next level.

http://www.wabusinessnews.com.au/en-story/1/70978/Today-s-Business-Headlines
Extract Resources has lost its second chairman in a month, yesterday bowing to Kalahari Minerals' demands to oust John Main as part of a shake-up designed to ease its major shareholder's fears that Rio Tinto could be seizing control of the uranium hopeful.

 

[bigdog]

Emerging Metals is buying up KAH Kalahari shares. Kalahari holds 40.6 per cent interest in Extract Resources.

http://www.thisismoney.co.uk/news/c..._id=19&in_article_id=479782&in_author_id=1822
Intriguingly, the company has attracted the interest of two very different investors. The first is mining giant Rio Tinto and the second is Emerging Metals, a company run by Stephen Dattels, who founded UraMin, a Midas recommendation that sold out at a huge premium to France's Areva two years ago.

Both investors have been buying Kalahari in recent weeks and have chased the price up from 43p in early February to 72 ¾p today (March 1 2009).

http://www.mandadeals.co.uk/m-and-a...5137/emerging-metals-ups-kalahari-stake.thtml

Emerging Metals ups Kalahari stake
By Robert Tyerman on February 23 2009

Mining entrepreneur Stephen Dattels’ Emerging Metals has increased its holding in fellow AIM company Kalahari Minerals from 7.5 to 8.8 per cent.

Emerging Metals has entered a crowded arena, in which beleaguered mining giant Rio Tinto has taken bigger chunks of Kalahari, attracted by its indirect holding in the Rossing South uranium deposit in Namibia’s Husab uranium project.

Rio Tinto, owner of the long-standing Rossing uranium mine next door, has built up a near 16 per cent stake in Kalahari, and another AIM concern, Niger Uranium, has a similar holding.

Kalahari holds its Rossing stake through its 40.6 per cent interest in Aussie-quoted Extract Resources. Rio has more than 14 per cent of Extract, and Kalahari’s board is concerned to prevent de facto control of the project slipping to Rio without a full bid.

 

[bigdog]

The Extract Resources share price continues to rise and I am surprised that another speeding ticket has not been issued!!
-- now up 97 cents since the last ASX query in just over 3 weeks

SP for selected days where the SP has risen from $1.12 on Dec 22 to today a high of $3.14 (which is up 19 cents up on yesterdays close)

Currently $3.08 at 10:53 AM March 13

Date....... Close Volume
12-Mar-09 2.95 835,385
11-Mar-09 2.78 545,196
10-Mar-09 2.62 721,022
09-Mar-09 2.65 357,497
03-Mar-09 2.53 1,659,819
02-Mar-09 2.45 514,371
27-Feb-09 2.32 418,549
26-Feb-09 2.13 212,145
25-Feb-09 2.07 384,771
24-Feb-09 2.13 376,901
23-Feb-09 2.17 214,891
20-Feb-09 2.30 749,910
19-Feb-09 2.35 665,411
18-Feb-09 2.17 834,554 ASX SP query issued
17-Feb-09 1.90 605,455
16-Feb-09 1.94 473,273
13-Feb-09 1.82 810,278
12-Feb-09 1.62 296,884
11-Feb-09 1.55 189,485
10-Feb-09 1.49 265,213
05-Feb-09 1.60 264,728
29-Jan-09 1.45 548,789
05-Jan-09 1.37 254,879
31-Dec-08 1.32 17,278
30-Dec-08 1.25 73,712
22-Dec-08 1.12 45,522

I have been a long term holder of EXT

 

[Sean K]

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.

Fantastic run, well done holders, but what's the next step? Taking profits yet? I've been around this long enough to see that these gains are unsustainable into the future. Just how long and how much anything goes is up for grabs, but no verticle move keeps going for ever. And, where's the support on the way back down? Food for thought.

 

[shag]

yes even the useless fat profits said it was a hold, quite some time ago, the inferance i took was it was a little topheavy.

i don't hold ext anymore unfortunately.

its about the only stock they have made money on, albeit holdfing from years ago i believe from memory.

 

[YOUNG_TRADER]

Amazing to see this make all time highs in this mkt environment

Just goes to show not everything is a dead duck, makes you wonder what it would have got to in the U Bull Mkt!


Not holding any and havent for years now but happy to see this rocket as it shows commodities will eventually come back.... just a matter of when

 

[bigdog]

The SP was looking great early in the day hitting $3.20 high, but finishing at $3.04 which was up 4 cents for the day.

For diehard EXT shareholders and followers

The following are links from EXT website and Wotnews that you may find interesting

Extract website has "Husab Fly Over" view using Google Earth
http://www.extractresources.com/Projects/Husab/HusabVideoforbroadband/tabid/751/Default.aspx

Slide Presentation: Paydirt Uranium Conference, Adelaide - March 2009
http://www.extractresources.com/Des...Id=3315&PortalId=13&DownloadMethod=attachment

EXT - Paydirt Uranium Conference Presentation - Mr Peter McIntyre, MD
Boardroomradio.com Audio webcasts of investor presentations | 1:30 p.m. 18th March 2009
-- The words for the slide presentation above -- http://wotnews.com.au/view/3180476/

 

[bigdog]

Any opinions of what is happening in the after hour trades????

I hold EXT and have for several years.

Check out the todays "after close trades" where the price dropped 13 cents!!

At the close today, the last trade was $3.30 being a great SP and surprise suprise, the 16:10:08 after close trades SP was $3.17

There were 552,793 shares sold in the "after close trades" which was 39% of the total volume (1,412,368) for the day!

There were five trades in excess of $100,000

Time….--- Price Volume Value Condition Codes
16:10:08 3.17 18,570 58,867 XT
16:10:08 3.17 4,666 14,791
16:10:08 3.17 22,600 71,642
16:10:08 3.17 172,734 547,567
16:10:08 3.17 18,096 57,364
16:10:08 3.17 2,000 6,340
16:10:08 3.17 2,000 6,340
16:10:08 3.17 2,000 6,340
16:10:08 3.17 34,507 109,387
16:10:08 3.17 65,493 207,613
16:10:08 3.17 1,500 4,755
16:10:08 3.17 5,000 15,850
16:10:08 3.17 12,000 38,040
16:10:08 3.17 221 701
16:10:08 3.17 100,161 317,510
16:10:08 3.17 46,962 148,870 XT
16:10:08 3.17 22,338 70,811
16:10:08 3.17 11,945 37,866
15:59:40 3.30 2,667 8,801 XT
15:59:40 3.29 1,208 3,974
15:59:40 3.29 1,093 3,596
15:59:40 3.28 5,000 16,400
15:59:40 3.25 32 104