Two analysts have updated their price targets for EXT to $10 -...

Two analysts have updated their price targets for EXT to $10 - $11. Both are based on discounted cash flow (DCF), assuming that EXT goes to full production. They are not based upon the takeover scenario.

Both have been covering EXT for a while. Their previous price targets were around $8-9. The latest reports Extract have on their website are dated early May, before the recent company announcements. According to Extract updated reports can only be placed on the Extract website 7-10 days after the report is released.

Here is part of the research report from Haywood:

*****************************************

Extract Confirms Rössing South as ‘World-Class’ with a high-grade ‘Maiden’ Inferred Resource at Zone 2: 122 Mlb U3O8 @ 543 ppm

Events: Extract delivers ‘Maiden’ Inferred Resource for Rössing South Zone 2 with spectacular grades that are significantly higher than the Rössing uranium
mine!

Impact – Positive Forecasts, Target Price, Ratings – We have increased our Target Price to A$10.10 from A$8.80 based on new resource estimations by the Company for Zone 2. Our revision uses a DCF of 12 %, and returns a 2014 (FY) production of 9.8 Mlb U3O8 and maximum production to 14.7 Mlb/Yr U3O8 with 2014 (FY) & 2015 (FY) cash costs to US$25 lb-1 U3O8. Estimated 2014(FY) and 2015(FY) CFPS are A$1.74 and A$2.82 respectively. We maintain our SECTOR OUTPERFORM rating and SPECULATIVE risk rating.