Thanx FordyFrom another BBHere's a few of the things which have...

Thanx Fordy


From another BB

Here's a few of the things which have been said during the week after removing as much of the journalistic padding & speculation as I could without losing the context of the quotes.
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Executive Chairman Mark Hohnen said.
Extended zones 1 and 2 at the project could contain more than 500 million pounds of uranium oxide, making the deposit the biggest after BHP Billiton's Olympic Dam in Australia, Hohnen told Reuters in an interview.
Additional resources could also be added from Zones 3 and 4. Early test results from Zone 3, released on Monday, confirmed strong uranium mineralisation.

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"They (a potential buyer) can't do anything with Extract or the resource without having Kalahari on side," Hohnen said on Thursday.

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"I guess they are all scratching their heads working out what they are going to do," said Hohnen, referring to potential buyers. "Of late there has been interest. We have talked to Rio and I think they would love to do it."

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Asia is also interested and countries in the region may consider offtake agreements, Hohnen said.
"The Koreans, the Chinese and the Indians are all trying to guarantee supply," he said.
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Kalahari is also interested in raising its stake in Extract, Hohnen said.

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Shares in Kalahari have jumped to 190 pence from 44 pence at the end of 2008 on hopes for the deposit, but Hohnen said there should still be a takeover premium in the price.

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'There's obviously a game that will be played out for Extract,' Paul Adams, head of research at DJ Carmichael told Reuters.
'In my view it is unlikely that Extract will be the miners of this project. It's getting to a size where other parties are definitely going to be interested and that's what we've seen. The battle of control for Extract is all around that.'

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Regarding Extract, an Australia-based investment banker told Reuters: 'Well, I wish I'd put ten grand in that a while ago.'
'I'd hazard to guess the project will cost somewhere around $500 million to build,' the banker added. 'You've got a chunk of that already, but you've got some money there to rustle around for. Some sort of offtake financing deal will probably be the most likely.'

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'We know that Rio is interested in a joint venture which they published in their annual report months ago,' said Richard Henning, a spokesman for Extract.
'We are not in a position to comment on any deals,' he added. 'Any talk of Rio taking over the company is purely speculative.'

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'These are incredible results,' Kalahari Chairman Mark Hohnen said at the time. 'The 82 percent increase in the resource at Rossing South and the grade quality mean this project is truly world class.'

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'There is no question there is a tremendous appetite for uranium and nuclear energy, in China in particular, but also in India in a nascent sort of way,' said one of the investment bankers.
'There's a lot of dancing going on.'

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Managing director Peter McIntyre told the Africa DownUnder conference in Perth on Thursday it was expected the prospect could easily surpass 300 million pounds of uranium by Christmas.

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“The rapid growth of zones 1 and 2 is now being complemented by the potential of a third zone of mineralisation along the same Rossing South trend," McIntyre said.

“And more exciting news was recently received some six weeks ago with detailed geological data showing to the east and west there are zones almost identical to zones 1 and 2.

“While at this point in time we have not even put holes in these areas, these are seemingly ready-made exploration targets, which means in the next 12 to 18 months we could potentially be discovering zones 4 and 5.”

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Already the seventh-largest uranium deposit in the world, McIntyre said in 12 months Rossing South could knock off McArthur River as the largest, bar Olympic Dam.

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McIntyre said as many as 13 rigs could soon be operating at the deposit.

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"Already the seventh-largest uranium deposit in the world, McIntyre said in 12 months Rossing South could knock off McArthur River as the largest, bar Olympic Dam".

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In a separate statement, it (KAH) said exploration at Rossing South is increasingly indicating a third mineralisation zone along the same trend as Zones 1 and 2, and believes that the true scale and magnitude of the Rossing South project is some way off from being understood.

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Kalahari chairman Mark Hohnen said: "The Rossing South prospect continues to deliver outstanding results that underpin our confidence in the potential of this uranium prospect. Exploration lines in the newly identified Zone 3 have yielded some exceptional results which reinforce the potential of a third zone of mineralisation.”

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Peter McIntyre, said: “The rapid growth of Zones 1 and 2 is now being complimented by the potential of a third zone of mineralisation along the same Rossing South trend. The potential of the entire 15 kilometre trend is enormous, with some degree of mineralisation being encountered on every line drilled to date."

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not exactly press quotes, but this para from Mirabaud's broker report is worth adding to the list imo.

Whilst the deposit currently has a JORC resource of 267Mlb U3O8 grading 487ppm we believe ongoing exploration drilling is likely at least to double this resource figure. As outlined previously, drilling undertaken 2km and 4km along strike to the south of Zone 2 continues to indicate presence of uranium mineralisation and continuity of grades within the ore-body. As a result we have modelled the operation using a resource of 500Mlb U3O8 assuming a steady-state ore production rate of 15Mt pa and a mine life of 30 years
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Kalahari Chairman Mark Hohnen said, "The response to our fund raising, which
was oversubscribed, emphasises that the investment community truly understands
the potential of Extract and in particular the Rossing South project, already
we believe one of the world's largest uranium deposits. Kalahari maintains that
Extract has the ground and potential to easily deliver a total resource in
excess of 500 M lbs U3O8 from the entire Husab Project, which would place it
amongst the largest uranium projects in the world. With this conviction, both
the Board and our investors continue to believe that it is imperative for us to
maintain our circa 40% shareholding in Extract, to allow us to benefit from the
potential for significant value accretion going forward."

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Neil Herbert, Managing Director of Polo Resources, said,

'The rapid growth of Zones 1 and 2 is now being complimented by the potential of a third zone of mineralisation along the same Rossing South trend. Extract's management has consistently under-promised and over-delivered and we expect rapid development of the Rossing South Project which has the potential to become one of the world's largest operating uranium mines.'
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