EXT - Excite Technology Services

[tambo66]

Thinking I should've banked my profits when I had the chance.
Maybe, maybe not, if you had you could do even better, long term this has potential to be a big fight for control between RIO and several others with in ground values way above the current price.
Personally, I am hanging in for the fight, even if my holding is puny compared to most others.

 

[Scorez]

Greetings fellow EXT holders - also concerned about this pullback/ spectacular dump - was awesome to watch albeit painful - some folks needed to fund their Easter trip to Bahamas? or maybe wish to impress their spouses with loads of chocolate eggs... of the like that need a semi-trailer to deliver... Hmm..

Note that at 12:14:16 and 12:09:24 two XT trades went through (buys), 100 thou and 150 thou respectively at $5.05 and $5.04 respectively. Could've been the weekly accumulation for the big boys (saw a mill share trade go through the other week) - but one wonders... did they go short? - or their buddies previously? If not, still indicates strength.

A lot of the larger parcels sold off (well, multi 1000 share lots) appear to be XT - could be a red herring but the plot thickens.

Interestingly KAH on the London Exchange has had a 10pt gap down on open and a further 10pt sell off before bouncing, seems to be holding up though - session not finished yet, climbing marginly. Related? Watch this space.

Very curious - fingers on those stop loss triggers eh...

Good luck to all holders.

Cheers,
Scorez

 

[bigdog]

ASX ANN yesterday
09-04-2009 04:04 PM EXT Change in substantial holding
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00943589

Polo Resources continue to buy EXT and during April 1 to April 7 increased their shareholding from 7.8% to 9.16% (20.4 million shares). They would have purchased around levels below which is above the April 9 close of $3.95.

Date..... Close
7-Apr-09 5.30
6-Apr-09 5.27
3-Apr-09 5.00
2-Apr-09 4.70
1-Apr-09 4.60


I was out yesterday and shocked to see EXT closing at $3.95 -$1.150 -22.55%

The lower SP must be attractive for Polo to continue buying!!!

 

[shag]

if anyone was overly keen to buy, it wouldnt have dropped like a stone, and ended near its lows.
shows what happens when an absense of any big buyers and analysts sell recommendations.
rio will have plans to sort out any intermediatary leaches. they are in no hurry.

 

[Sean K]

This was always on the cards and mentioned some time ago in this thread. It's just ran further than expected, which results in larger than expected corrections. Let's hope for long term buy and holders this doesn't go the way of many other stocks that have ran up 100's of % before a 'top' is reached. See BMN, MAK, SMM, PDN, FMG charts for examples. Just where is support on the way back down?

 

[Black Range]

Here's Thursday's action to analyze, Chart shows that the intense selling began at around 1.00p.m., the bulk of the larger Trades occurred prior to the sell-off.

One seems to feel it could well have been Initial profit taking, culminating in triggering Stop Losses, in turn causing the "Domino Effect" Panic !!!

Tuesday's Open will be the Test.

Thursday 9th April Intra-Day Chart

Thursday's Stats....
No. of Trades: 1135
Volume: 2,430,797 ( 1.49 X Average Daily Vol )
Opening Price: $5.000
High Price: $5.150
Low Price: $3.780
Closing Price: $3.950

 

[shag]

i didnt look at yr graph too hard, but i thought it was later, say 2pm or after it got hammered. i guess that could have been the stop losses.
late in the day, late in the week to get nailed.
i wondered if it was someone sending a signal.

 

[bigdog]

POLO Resources continue to buy EXT

http://www.newswire.ca/en/releases/archive/April2009/15/c2017.html

TORONTO, April 15 /CNW/ - Polo Resources Limited announces that on April 15, 2009 it acquired 250,000 fully paid ordinary shares of Extract Resources Limited (TSX: EXT ASX: EXT) ("Extract"), through the facilities of the Australia Stock Exchange at a price of AUS$3.65 dollars per share (or Cdn.$3.18 based on the Bank of Canada noon rate of Cdn.$0.8699 per AUS$1.00).

These shares, together with shares already owned by certain associates of Polo Resources, totalling 22,521,700 shares, represent approximately 10.1% of Extract's fully paid ordinary shares outstanding, based on Extract's public disclosure. The shares have been acquired for investment purposes. Depending on market conditions, Polo Resources Limited may acquire additional Extract fully paid ordinary shares.

EXT today down 0.44 to close at $3.46

 

[bigdog]

Stephen Dattles continues buying EXT and KAH!

http://www.proactiveinvestors.com.a...nterest-in-kalahari-minerals-to-984-1262.html
Friday, April 17, 2009
Emerging Metals ups interest in Kalahari Minerals to 9.84%

Kalahari Minerals (AIM: KAH) continues to be a much sought after share.

Emerging Metals (AIM: EML) announced that it has acquired a further 1.78 million shares, increasing its stake to 17.6 million shares, or 9.84% of the Company. Stephen Dattles, Co-Chairman of Emerging Metals is also Chairman of Polo Resources, which holds a 5.7% stake in Extract Resources (ASX, TSX: EXT).

It is worth reminding readers that Kalahari Minerals key investment is a 38.68% stake in Extract Resources. Rio Tinto (LSE, ASX: RIO) is a significant shareholder in both companies, with a 15.8% interest in Kalahari Minerals and 15.6% interest in Extract Resources. Niger Uranium (AIM: URU) has a 15.5% stake in Kalahari Minerals.

Extract Resources main focus is the Husab uranium project in Namibia which contains the Rossing South, Ida Dome and Hildenhof prospects, and is located directly south of Rio Tinto's world class Rossing Mine.

At Rossing South, an initial resource estimate of 108 million pounds of U3O8 at a grade of 430 parts per million was announced in January 2009 for Zone 1, whilst at Ida Dome, a 25.1 million pounds of U3O8 has been defined, effectively giving Extract a total resource of 133.1 million pounds. An update on the resource at ‘Zone 2’ is expected in summer 2009.

 

[bigdog]

Another VG ASX ANN for Extract

Date----- Close Volume
24-Apr-09 4.49 362,670
23-Apr-09 4.27 574,672
22-Apr-09 3.76 202,303
21-Apr-09 3.73 278,043
20-Apr-09 4.05 790,077
17-Apr-09 3.65 645,864
16-Apr-09 3.46 966,489
15-Apr-09 3.90 1,267,701
14-Apr-09 3.96 983,922

Todays volume is low so far!!
EXT 4.75 +0.260 +5.79% 79,552 shares $369,462 @ 27-Apr 10:41:45 AM

27-04-2009 10:45 AM EXT Rossing South - Update and Renewal of EPL3138
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00947082

Rossing South Update
South Perth, Western Australia – April 27 2009 – Extract Resources (“the Company”) today announced further broad, high grade chemical assay results from Rossing South and the renewal of EPL3138.

Highlights:

• Namibian Ministry of Mines and Energy confirms renewal of EPL3138 (which includes the Rossing South deposit).
  
• Rossing South Zone 2 drilling is progressing on schedule and continues to encounter zones of massive high grade alaskite-hosted uranium mineralisation.
  
• Rossing South Zone 1 drilling results further define and extend the known mineralisation.
  
• Seven drill rigs now operating on site (5 RC + 2 Diamond).
  
• Exploration drilling that will explore to the west of Zone 1 and south of Zone 2 has commenced.

Refer the linked ASX ANN document for:
"Chemical assay results not previously reported from Rossing South include: "

These results reconfirm that Rossing South is the highest grade granite hosted uranium deposit in Namibia and that it continues to evolve into one of the largest uranium deposits in the world.

 

[bigdog]

SP today EXT 4.98 +0.490 +10.91% high of 5.00 381,993 shares $1,833,681 @ 27-Apr 04:42:14 PM

Date----- Close Volume
24-Apr-09 4.49 362,670
23-Apr-09 4.27 574,672
22-Apr-09 3.76 202,303
21-Apr-09 3.73 278,043
20-Apr-09 4.05 790,077
17-Apr-09 3.65 645,864
16-Apr-09 3.46 966,489
15-Apr-09 3.90 1,267,701
14-Apr-09 3.96 983,922

http://www.proactiveinvestors.com.a...sing-confirms-world-class-potential-1329.html

Monday, April 27, 2009
Kalahari Minerals said Rossing South uranium deposit progressing, confirms world-class potential

Kalahari Minerals PLC (AIM: KAH) said 38.68 percent controlled Extract Resources reported that drilling at the Rossing South Zone 2 is progressing on schedule and continues to encounter zones of massive high grade uranium mineralisation, and that the Namibian government has renewed the exploration licence.

The news lifted the stock, and Kalahari was trading up more than 8 percent in midmorning deals.

Drilling results from Rossing South Zone 1 further define and extend the known mineralisation, Extract said.

Latest chemical assay results from Zone 2 include a 49 metres intersection at 1,307 parts per million triuranium octoxide and 21 metres at 3,920 ppm. In Zone 1, drilling encountered 41 metres at 1,131 ppm, 16 metres at 2,071 ppm and 106 metres at 514 ppm U308.

These results reconfirm that Rossing South is the highest grade granite hosted uranium deposit in Namibia and that it continues to evolve into one of the largest uranium deposits in the world, Extract said.

A resource estimate for the Zone 2 will be announced in August 2009. Exploration drilling that will explore to the west of Zone 1 and south of Zone 2 has commenced.

Rossing South is located wholly within EPL3138. The license for EPL3138 has been renewed by the Namibian Ministry of Mines and Energy (MME) for an additional period of two years.

 

[bigdog]

ASX ANN today

29/04/2009 Change in substantial holding
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00948070

Polo Resources buys more shares in EXT
-- now holding 23.2 million shares (10.17%)
-- Polo buying daily parcels in range of 10,000 to 960,000 during past two weeks!!

 

[bigdog]

Polo Resources buys 2.8m Extract Resources shares

Polo Resources bought 2,774,201 Extract Resources shares between April 8 and 27, increasing from 20,443,499 shares (9.16%) to 23,217,700 shares (10.17%).

With Polo buying shares, one would expect the SP to increase!

The 2,774,201 shares equals 29% of the 9,712,810 shares traded during the above period!

 

[bigdog]

EXT up 5 cents to $4.97 at 11:46 AM today

My reading of the following AIM ANN for Kalahari Minerals (KAH) is not to sell your EXT shares.

Polo has been acquiring and KAH is to acquire more EXT shares "to maintain is its stake in Extract"

http://www.morningstar.co.uk/uk/News/NewsFeedItem.aspx?id=77515576971126

1st May 2009 18:07

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

Placing to raise approximately £17.89 million


Kalahari Minerals plc, the AIM listed mining exploration group with a portfolio of uranium, copper and base metal interests in Namibia, announces that it has conditionally raised approximately £17.89 million (before expenses) by way of a placing by Ambrian Partners Limited and Mirabaud Securities plc ("the Joint Brokers") of 17,890,000 new ordinary shares of 1 pence each in the capital of the Company ("the Placing Shares"), with new and existing shareholders at a price of 100 pence per Placing Share ("the Placing Price") ("the Placing"). It is intended that the net proceeds of the Placing will be used to provide Kalahari with the capacity, to the extent that it is able, maintain its stake in Extract Resources Ltd (ASX and TSX: EXT) ("Extract").


Kalahari Chairman Mark Hohnen said, "The aggressive exploration programme underway at Husab continues to churn out excellent results, particularly at the Rossing South target, which we believe has the potential to become one of the largest uranium deposits in the world. With this in mind, our shareholders expressed an interest in maintaining Kalahari's position in Extract to support its growth, so we were delighted to raise this money, which will enable us to do just that. We were also pleased to attract new institutions, which have also recognised the opportunity to become involved in such an exciting project and support the Placing, which was considerably oversubscribed."


The Placing is conditional, inter alia, upon the Company obtaining general issuance authorities from the shareholders of the Company (“the Shareholders") at the Company's annual general meeting (“the AGM"). The AGM is to be held on 12 May 2009 at 10 a.m. at the offices of Lawrence Graham LLP, 4 More London Riverside, London SE1 2AU, notice of which was sent to Shareholders on 17 April 2009 (“the Notice"). At the time the Notice was sent, the directors of the Company (“the Directors") had no intention of undertaking a Placing. However, following the publication of updated drilling results by Extract on 27 April 2009 and the subsequent increase in the share price of both Extract and the Company, it was apparent that there was sufficient interest in the market for the Company to raise further funds. In the circumstances, the Directors considered that it was appropriate and prudent to take advantage of the opportunity that has arisen.



The Placing represents approximately 10 per cent. of the issued share capital of the Company and following Admission, the Placing Shares will represent 9.1 per cent. of the enlarged issued share capital.


The Placing is further conditional on admission of the Placing Shares being admitted to AIM ("Admission"). It is expected that Admission will occur, and dealings in the Placing Shares will commence, at 8.00 a.m. on 15 May 2009.


The Placing Shares will, when issued, rank pari passu in all respects with the existing issued shares of Kalahari, including the right to receive any dividends and other distributions declared following Admission.


Under the terms of the Placing the Company has agreed to issue to the Joint Brokers 447,250 warrants each ("the Warrants") to subscribe for ordinary shares of 1 pence each in the Company ("the Ordinary Shares"). The Warrants have an exercise price of 100 pence per Ordinary Share. The Warrants will be exercisable at any time until 1st May 2011. Following the allotment of the Placing Shares the Company will have insufficient issuance authorities to grant the Warrants and it is agreed that the Warrants will be issued conditional upon Shareholder approval. It is intended that a circular shall be sent to Shareholders shortly convening a general meeting proposing such authorities and replacing the general authority proposed at the AGM which is being fully utilised in the Placing.

 

[bigdog]

Two ASX ANN today

The market did not get excited about the ANN!!!
EXT $4.95 -0.250 -4.81% high of $5.15 & low of $4.80 413,240 shares $2,062,669 @ 06-May 04:10:39 PM


06-05-2009 11:54 AM EXT Rossing South Metallurgical Test Results Update
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00950693

Highlights

Preliminary comminution results received from Feasibility level metallurgical test work on samples from Rossing South Zone 1.

Detailed mineralogical analysis of Rossing South Zone 1 and Zone 2 identifies uraninite as the dominant uranium bearing mineral.

High uranium recoveries expected from an acid leach processing plant.

Background statement:
A comprehensive metallurgical test work program based on NQ core from 19 drill holes is in progress with the bulk of the comminution testwork completed. These drill holes provide representative samples along strike and at varying depths of the known extents of uranium mineralisation at Rossing South Zone 1.


06-05-2009 12:27 PM EXT Rothschild Appointed as Strategic Adviser
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00950711

s a result of this the Board now considers that it is an appropriate time to engage the services of a highly qualified independent adviser to assist with determining strategies and to consider all scenarios in the development of the Company without compromising the interests of stakeholders.

In this regard the Board is pleased to announce that it has selected Rothschild Australia Limited to act as its corporate adviser in undertaking a strategic review of the various options that are presenting themselves. The Company believes that such a review will also facilitate the early development of the Rossing South Project.

 

[bigdog]

AFR Acticle today where I can not obtain the full story!

Canadian articles!!

http://www.tradingmarkets.com/.site/news/Stock News/2324250/

Everyone wants a cut of the yellowcake
Tue. May 12, 2009; Posted: 09:40 PM

May 12, 2009 (The Australian Financial Review - ABIX via COMTEX) -- EXRLF | Quote | Chart | News | PowerRating -- Rio Tinto acquired a blocking stake in Extract Resources and Kalahari Minerals, its 38 per cent stockholder, in 2008 in order to gain access to a strategic uranium deposit in Namibia. However, leading uranium producers now aim to acquire Extract. Canadian mining entrepreneur Stephen Dattels is agitating for the sale of Extract and Kalahari.
-------------------------------------------------------------------
http://www.tradingmarkets.com/.site/news/Stock News/2324256/
Miners are drawing attention with powerful gains
Tue. May 12, 2009; Posted: 09:44 PM

May 12, 2009 (The Australian Financial Review - ABIX via COMTEX) -- EXRLF | Quote | Chart | News | PowerRating -- Profit taking is set to dominate the small capitalization stocks sector after a nine-week rally increased its value by 40%. Analysts believe that the sector is focused too much on China's demand. Favoured stocks include Emmerson Resources, Extract Resources and Texon Petroleum.
-----------------------------------------------------------------
http://www.tradingmarkets.com/.site/news/Stock News/2248719/

Extract Resources
Tue. March 31, 2009; Posted: 06:22 AM

LONDON, Mar 31, 2009 (Dow Jones Commodities News via Comtex) -- POLJF | Quote | Chart | News | PowerRating -- Edited Press Release
Polo Resources announced Tuesday that as at March 27, it, together with its Executive Chairman Stephen R. Dattels and Deputy Chairman Neil Herbert, (directly and indirectly) owned a relevant interest in 12,608,239 ordinary shares of Extract Resources Limited ("Extract") representing 5.7 % of the issued ordinary share capital of Extract.

Dattels, Executive Chairman, said:

"Polo has made a strategic decision to refocus its human and financial resources in the uranium sector. Polo's previously announced agreement with Berkeley Resources Ltd. was the initial step in the Company's programme of acquisitions.

"The investment in Extract, the owner of the Rossing South uranium deposit in Namibia, is a further major commitment of Polo's financial resources in what the Directors believe could be the largest uranium discovery in the world. We believe Rio Tinto's 15.57% shareholding in Extract represents an endorsement of Extract's prospects and of the Rossing South deposit in particular, Polo considers it necessary for Kalahari and Extract to remain independent from Rio in order for them to fully secure the inherent value of Extract's projects for their shareholders. Polo understands that Kalahari shareholders voiced the same concerns when they refused to endorse the potential merger between Extract and Kalahari over concerns that Rio Tinto could emerge with a controlling interest. In the opinion of Polo this would be "value destructive" to Extract shareholders. An additional concern is the fact that Rio Tinto's Extract shareholding has or may be transferred to The Rossing Joint Venture which is 15% owned by the Government of Iran. Any such transfer would normally require the prior consent of the Australian Treasurer under Australian foreign investment laws and it is unclear if this approval has or will be obtained. The Directors of Polo further believe that there are many better alternatives to create value for Extract shareholders than a joint venture with Rio Tinto", said Dattels.

 

[bigdog]

ASX ANN
25-05-2009 10:01 AM EXT Request for Trading Halt
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00955488

"The Company is in dispute with its major shareholder, Kalarari Uranium Limited and advice and clarification is being sort in relation to this matter."

970

 

[Sean K]

ASX ANN
25-05-2009 10:01 AM EXT Request for Trading Halt
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00955488

"The Company is in dispute with its major shareholder, Kalarari Uranium Limited and advice and clarification is being sort in relation to this matter."

970

You know this company pretty well bigdog, what do you think is the issue, and why the trading halt? Cheers, kennas

 

[bigdog]

You know this company pretty well bigdog, what do you think is the issue, and why the trading halt? Cheers, kennas

I do not know the reason for the dispute.

My guess is the composition of the board which was supposedly resolved in March 2009!

My other concerns is with the possibility of Polo siding with Kalahari.
-- Polo has 10.17% plus Kalahari has 38% equals more clout!\

139

 

[bigdog]

Originally Posted by kennas
You know this company pretty well bigdog, what do you think is the issue, and why the trading halt? Cheers, kennas

My guess is the composition of the board which was supposedly resolved in March 2009!

My other concerns is with the possibility of Polo siding with Kalahari.
-- Polo has 10.17% plus Kalahari has 38% equals more clout!\

EXT ann issued 27-05-2009 10:11 AM and EXT ANN 27-05-2009 06:54 PM Response to ASX Query regarding the first ANN issued today and the materiality of the March 2009 board agreements and advice to ASX!!!

27-05-2009 10:11 AM EXT Requisitions for Board Changes
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00956160

REQUISITIONS FOR BOARD CHANGES
Extract Resources Limited (“Extract” or “the Company”) advises that on 22 May 2009, it received a requisition from Kalahari Mineral plc and its wholly owned subsidiary, Kalahari Uranium Limited (“Kalahari”), pursuant to section 249D of the Corporations Act 2001, requesting that the Company convene a meeting of shareholders to consider a resolution for the removal of Mr Peter Thomas McIntyre as a director of Extract and a resolution for the appointment of Mr Mark Ainsworth Hohnen as a director of Extract.

The Company considers the requisition from Kalahari to be a breach of an agreement reached between Extract and Kalahari (dated 25 February 2009), under which Kalahari agreed to withhold from requisitioning any further meetings of Extract shareholders for the purpose of removing members of the Board of Extract. Extract has sought to engage with Kalahari on this matter in order to avoid further legal action, however recent discussions have been unsuccessful in aiming to resolve the dispute. The Company is now seeking legal advice in relation to these matters and will keep shareholders informed in due course.

The Company has also been made aware that Polo Resources Limited is intending to requisition a meeting for the appointment of Mr Stephen Roland Dattels. To date no formal requisition notice has been received. In addition the Company has been advised that in view of the above proposed board changes, Rio Tinto has requested for a representative of Rio to be appointed as a director. The Board of Extract has expressed concern that the proposed changes would result in the independent non-executive directors becoming a minority on the Board.

The Board would like to reassure shareholders that the Company remains focused on the successful development of the world class Rossing South Project in Namibia. The Board continues to work with Rothschild to formulate a strategy that is in the best interests of all stakeholders.


27-05-2009 06:54 PM EXT Response to ASX Query
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00956401

refer file dispayed

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