bby are still buying ext what are we missing

Hi Guys,

I am still trying to get my head around this announcement and keep thinking there's more to this than meets the eye.

I know for a fact that EXT management were extremely excited about being an exclusive Uranium Company, and were not interested in copper, zinc, gold etc., so why this change? From speaking to them, they believe Rossing South will be one of the largest new Uranium mines in the world, with people in the industry estimating in excess of 500 m lb in the next 24-36 months, as being quite achievable.

The announcement released on Friday, states that BBY Limited is acting exclusively for Extract as Financial Advisors, so if this is a bad deal for us shareholders, presumably BBL must know what's going on. BBL has purchased approximately 70% of all available stock on market for the month of August, and according to my available data as of 2/9/08, have continued to purchase stock paying up to $1.03.

Is this possibly a hasty decision to dilute Niger Uranium holdings in Kalahari Minerals and prevent a takeover of Kalahari?

Cheers