emerging metals ups interest in kah

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.