EXT - Excite Technology Services

[shag]

thanks guys.
its a dead poor performer by that graph from 2006 sure.
the 24mill someone owns must make the merger harder to get over the line, like would you vote for a 99c merger if u've paid 1.20, unless they see real value in the consolidation of the two.

 

[LR2]

Shag, article suggesting possible Rio Tinto involvement.

http://www.mineweb.co.za/mineweb/view/mineweb/en/page38?oid=61996&sn=Detail

 

[shag]

Thanks again
the 1.20 sp seems to be holding up well. surely bannermans mine and even deep yellow would group togeather as the logical big mine project.
Maybe time to slot some money into the area
fat profits r going to have ext in their commentary tonight so that will be interesting.

 

[bigdog]

EXT ANN today
11/09/2008 Form 603 - Notice of initial substantial holder from RIO
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00879071

Looks like RIO now 10.9% shareholder and paid $1.20 sep 9 for 22.8 million shares and further small parcels

SP currently EXT $1.27 +$0.06 +4.96% high of $1.37 537,694 shares $714,948 @ 11-Sep 11:27:11

 

[johenmo]

CommSec Report out today (12/9):
"Rossing South mineralisation extended
On 2 September 2008, Extract Resources (EXT) announced that the results from further drilling at Rossing South show 95m at 780ppm within zone 1 and 158m at 552ppm and 146m at 388pm in zone 2.
CommSec’s base-case valuation estimates for Rossing South are:
average grade 270ppm, and
mineralisation to a depth of 260m below the surface, under 80m to 100m of cover.
Compared with CommSec’s estimate, EXT’s recent announcement reflects:
a higher grade,
greater depth,
and increased strike.
The new results suggest that CommSec’s valuation could be increased, however further information is required and therefore at this stage we retain our $1.37 per share valuation.
Outlook: EXT to become KAH
On 5 September 2008, the directors of EXT and its major shareholder Kalahari
Minerals Plc (Listed on AIM: KAH) announced a proposed restructure by means of a merger of the two companies. In accordance with this agreement, Kalahari is to offer 1.6 Kalahari shares for every EXT share. The merged entity will be both AIM and ASX listed.
A meeting of EXT shareholders to approve the scheme of arrangement is to be held in November 2008.
Valuation & Recommendation
CommSec’s valuation and recommendation CommSec’s base case valuation for EXTis $1.37 per share. The new assay results suggest the grade for Rössing South is likely to be higher.
CommSec’s valuation is more sensitive to grade than volume and so there is
significant upside risk to our valuation.
CommSec retains its BUY / OUT PERFORM recommendation."

Only just heard of them via this report. Sounds like people aren't excited about the merger. I'm a bit shy of this after buying OXR pre-merger & then keeping them.

 

[shag]

mate, u did see rio bought 27mill or so of them at $1.20?, rio has its rossing mine next door.
the merger, if it happens, isnt that big a deal as they own a large swago of ext already
rio bought up a swag of kah as well

 

[shag]

i guess people have noted that RIO are still quietly buying ext on the market
still tho its going nowhere but sideways like the last year or two...

 

[bigdog]

ASX Announcement today
29/09/2008 Strongly Mineralised Uranium Zones Continue at Rossing South
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00884669

September 26 2008 – Extract Resources (“the Company”), (TSX:EXT;ASX:EXT), a Uranium exploration company with projects in Namibia, Africa, today announced further wide zones of high grade uranium mineralization, at Rossing South.

Chemical assay results and downhole spectrometer data from Reverse Circulation (RC) drilling continue to demonstrate the continuity of alaskite hosted uranium mineralization in both Zone 1 and Zone 2.

Three large capacity RC rigs continue to operate at Rossing South drilling Zone 1 on a 100 x 100 metre spacing to define an initial resource within the first quarter 2009. An additional two RC rigs are expected at Rossing South within the next four weeks. Once Zone 1 has been drilled out, resource definition drilling will resume on Zone 2.

Visual signs of uraniferous alaskite, such as smoky quartz and abundant biotite, along with hand held spectrometer readings taken from the one metre bulk RC samples, continue to indicate the intersection of broad zones of strong uranium mineralisation. These positive field indicators, along with the steady flow of quality chemical assay results from Rossing South, support the Company’s view that Rossing South has the potential to become one of the largest uranium discoveries in many years.

Some of the chemical assays mentioned in this release have previously had downhole spectrometer results reported (ASX release 13 May 2008). A comparison of the downhole spectrometer surveys with the chemical assay results indicate the metal content is approximately 20% less with the chemical assays, which is as expected. The Company continues to treat spectrometer information as an estimate of the uranium mineralisation whilst waiting for confirmation by chemical assay results.

A more regular flow of chemical assay results is being returned now that the Company is also using the pressed pellet x-ray fluorescence (XRF) method. Comparison sampling between the four acid digest, inductively coupled plasma mass spectrometry method, and XRF have been favorable.

Extensive exploration potential still exists on the Husab Project with the remaining nine kilometre zone of prospective stratigraphy at Rossing South yet to be tested. Work on this and other target zones is planned for later in 2009, once the Company has established a maiden resource at Rossing South.

 

[shag]

not much volume so far, i guess rio has bought up a lot of sellers previously and still buying today.
same pattern as last time, dropped to 90 then came back(rio was the buyer then).

 

[shag]

i see the prices have dropped below a hundred bucks for the first time for some time.
obviously rio has taken a breather at buying it up.
i might sell soon, as many other stocks so inviting. and this could b capped at 1.20 for some time? ideas anyone....

 

[Sean K]

Cripes, check out the grades reported here.

If this had have been reported 18 months ago the stock would have jumped 100000%

Times have changed a tad...

 

[bigdog]

Rossing South Results - Massive Uranium Mineralisation
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00912661

EXT $1.15 +$0.095 +9.00% high of $1.15 112,300 shares $124,123 @ 11-Dec 11:10:01

 

[bigdog]

Rossing South Results - Massive Uranium Mineralisation
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00912661

EXT $1.15 +$0.095 +9.00% high of $1.15 112,300 shares $124,123 @ 11-Dec 11:10:01

These results further confirm Rossing South as one of the most significant uranium discoveries made in recent decades.

Uranium mineralisation remains open along strike to the south and down dip to the east, which means ongoing drilling is expected to define a larger resource than originally perceived.

Peter McIntyre, Managing Director said today “Major hits on the southern most line of Zone 1 give strong indication that this zone is still wide open. Rossing South is presenting both high grades and excellent widths, our progress since the initial discovery in February has been outstanding and we look forward to the release of an initial resource early in the New Year.”

 

[bigdog]

The EXT share price kicked up yesterday up 16.5 cents or 14.7% to close at $1.28

Date........ High.. Close. Volume
23-Dec-08 1.295 1.280 606,094
22-Dec-08 1.150 1.115 45,522
19-Dec-08 1.160 1.115 187,026
18-Dec-08 1.155 1.155 60,000
17-Dec-08 1.160 1.155 130,451
16-Dec-08 1.180 1.155 22,246
15-Dec-08 1.180 1.160 382,440
12-Dec-08 1.210 1.150 231,450
11-Dec-08 1.200 1.160 553,532
10-Dec-08 1.055 1.055 113,000
09-Dec-08 1.000 1.000 133,417

 

[dj_420]

I got on board these guys due to recent discoveries, I had not followed them for a long time and then when looked at recent ann was amazed.

Those grades are absolutely thumping, I will be doing a lot of research on the geology of the area and try and identify and come up with a comparison between EXT and BMN. Another thing I like about EXT is the quality of the major shareholders. A lot of institutions on board these guys. Especially RIO, considering locality and mine life they have left at Rossing.

What I do think however is that EXT resource will end up larger and at a higher average grade than BMN. Very difficult to compare without resource modelling but the EXT grades and size are far superior to BMN.

It may be a different style resource also, one that is similar to the Rossing or Langer Heinrich, which would mean different processing procedures. If anyone has anymore on this greatly appreciated.

Will put up more as I get it.

 

[mitch87]

will be interested in seeing what you come up with dj420 regarding the comparison of ext and bmn cheers

 

[dj_420]

I have been doing a lot of research in an attempt to compare EXT to BMN. I have come up with a few interesting points so far.

EXT has defined 24.8 million pounds at 213ppm with 100ppm cutoff or 15.6 million pounds at 261ppm with 200ppm cutoff at Mount Ida Dome deposit.

BMN has defined 106.6 million pounds at 209ppm with 100ppm cuttoff or 61.6 million pounds at 269ppm with 200ppm cutoff at Etango Anomoly A deposit.

Both these deposits are alaskite hosted (granite to granodiorite) and show very similar mineralisation to almost all uranium occurances in the Namibia area (aside from the calcrete hosted uranium occurance of PDN). The grades are pretty much exactly the same for both EXT and BMN. However as EXT have been converting their inferred resources to indicated it seems to have increased the grade slightly up to around 246-259ppm for 100ppm and 200ppm cutoff respectively.

If EXT can continue to increase the overall grade of the resource as they continue infill drilling it may end up as a slightly higher grade than BMN deposit. The drilling at Mount Ida Dome is only 48% complete and they expect the exploration target of 41.2 million pounds to be exceeded once completing the drill program.

BMN have identified numerous extensions to Anomoly A and will no doubt be increasing the resource as these extensions are drilled.

That is the comparison of the existing resources of both companies. EXT is still yet to release the first JORC of the Rossing South deposit and this will be the area of great personal interest for myself. The hits and grades they have encountered in the Rossing South area are very significant to say the least.

From reading over the drill results so far from Rossing South it seems to be consistant with localised deposits but they have encountered very high grade zones throughout the mineralised area. The length of the hits and grades should boost the overall average grade significantly.

Once the JORC for the first zone is released we will be able to better gauge a comparison on the two companies. I have no doubt that both companies will end up with very significant uranium resources but I like the fact that EXT is just south of the Rossing mine and RIO (among other significant investors) are major shareholders of EXT.

As far as an obvious take over target goes I would say that EXT is the most obvious purely from location of Rossing mine and taking into account the remaining mine life.

Will post up more research as completed.

 

[bigdog]

Cripes, check out the grades reported here.

If this had have been reported 18 months ago the stock would have jumped 100000%

Times have changed a tad...

Kennas, the SP is starting to pickup since Dec 11 ASX ann

Share price currently
EXT $1.52 +0.150 +10.95% high of $1.57 and low of $1.45 273,890 shares $407,703 @ 06-Jan 11:52:43 AM


Rossing South Results - Massive Uranium Mineralisation
http://www.asx.com.au/asx/statistics...idsID=00912661
These results further confirm Rossing South as one of the most significant uranium discoveries made in recent decades.

Uranium mineralisation remains open along strike to the south and down dip to the east, which means ongoing drilling is expected to define a larger resource than originally perceived.

Peter McIntyre, Managing Director said today “Major hits on the southern most line of Zone 1 give strong indication that this zone is still wide open. Rossing South is presenting both high grades and excellent widths, our progress since the initial discovery in February has been outstanding and we look forward to the release of an initial resource early in the New Year.”

Date----- Close Volume
05-Jan-09 1.37 254,879
02-Jan-09 1.33 62,050
31-Dec-08 1.32 17,278
30-Dec-08 1.25 73,712
29-Dec-08 1.29 106,412
24-Dec-08 1.26 109,237
23-Dec-08 1.28 606,094
22-Dec-08 1.12 45,522
19-Dec-08 1.12 187,026
18-Dec-08 1.16 60,000
17-Dec-08 1.16 130,451
16-Dec-08 1.16 22,246
15-Dec-08 1.16 382,440
12-Dec-08 1.15 231,450
11-Dec-08 1.16 553,532
10-Dec-08 1.06 113,000
09-Dec-08 1.00 133,417
08-Dec-08 0.98 83,420
05-Dec-08 0.96 101,100

 

[bigdog]

ASX ANN today TRADING HALT pending release of material information

22/01/2009 Trading Halt
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00920848
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00920835

The company is expecting to receive information in relation to its maiden resources estimate for zone 1 at its Rossing South project in Namibia and requires to assess and report as and when received

ASX ANN 19/01/2009 Quarterly Cashflow Report
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00920078
Cash at end of quarter $20,533.000 @ December 31 2008

The SP has been very good since the Dec 11 ASX ANN

Date----- Close Volume
21-Jan-09 1.465 125,395
20-Jan-09 1.350 54,906
19-Jan-09 1.415 42,562
16-Jan-09 1.490 91,763
15-Jan-09 1.400 181,419
14-Jan-09 1.480 209,513
13-Jan-09 1.450 176,773
12-Jan-09 1.450 230,672
09-Jan-09 1.355 53,204
08-Jan-09 1.400 238,746
07-Jan-09 1.500 441,987
06-Jan-09 1.560 400,642
05-Jan-09 1.370 254,879
02-Jan-09 1.330 62,050
31-Dec-08 1.320 17,278
30-Dec-08 1.250 73,712
29-Dec-08 1.290 106,412
24-Dec-08 1.260 109,237
23-Dec-08 1.280 606,094
22-Dec-08 1.115 45,522
19-Dec-08 1.115 187,026
18-Dec-08 1.155 60,000
17-Dec-08 1.155 130,451
16-Dec-08 1.155 22,246
15-Dec-08 1.160 382,440
12-Dec-08 1.150 231,450
11-Dec-08 1.160 553,532
10-Dec-08 1.055 113,000




Dec 11 ASX announcement
Rossing South Results - Massive Uranium Mineralisation
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00912661
These results further confirm Rossing South as one of the most significant uranium discoveries made in recent decades.

Uranium mineralisation remains open along strike to the south and down dip to the east, which means ongoing drilling is expected to define a larger resource than originally perceived.

Peter McIntyre, Managing Director said today “Major hits on the southern most line of Zone 1 give strong indication that this zone is still wide open. Rossing South is presenting both high grades and excellent widths, our progress since the initial discovery in February has been outstanding and we look forward to the release of an initial resource early in the New Year.”

 

[dj_420]

Well the resource came out yesterday and clearly exceeded market expectations!

I was very surprised to see it come in as now the highest grade deposit in Namibia. Now when we compare BMN to EXT the difference is in the grades, EXT grades are almost double that of the BMN Anomoly A.

I would like to see this continuation of the resource down to Zone 2, which if it now meets market expectations will be turning into a very significant resource.