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.
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EXT Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
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