all quiet, page-3

my two bobs worth:

In relation to the potential T/O offer for KAH:
- it'll be quiet for some time, I don't expect CGNPC to formalise their offer any earlier than the drop dead date of 17th June.
- We might see some announcements if/when pre-conditions are met or waived before then; and
- if/when CGNPC formalise the offer, then we might see some action from other parties.
- I see no reason for RIO or others to play their hand and trump CGNPC's potential offer as CGNPC could still fold their hand (from the perspective of any suiters looking to buy EXT/KAH, it's all about starting with the lowest bid)

On the EXT/Husab development front, we eagerly await the following announcements:
(1) approval of the mining licence from the Namibian Government
(2) release of the updated resource estimate to reflect drilling completed up to Jan 2011 (as eluded to in the quarterly report published in April 2011)

On the fundamentals:
- there is still a market for U308, nothing has changed there,
- nothing has changed with the fundamentals of the Husab deposit.
- I for one would still like to see the Namibian Givernment come out and categorically state that the future ambitions of Epangelo do not include PENDING MINING LICENCE APPLICATIONS, from my recollection we have seen everything accept this.

IMO only, DYOR etc