dance of the kalahari - afr 13/08/11

Dance of the Kalahari

The Australian Financial Review
PRINT EDITION: 13 Aug 2001
Street Talk
Edited by Khia Mercer

As expectations grow that Extract Resources's major shareholder, Kalahari Minerals, will soon attract bid interest again from China Guangdong Nuclear Power, the chatter in Britain is of some interesting manoeuvring in the share registers of both companies.

Well-known mining executive Stephen Dattels, who chairs Hong Kong company Regent Pacific, is said to be building stakes in Kalahari and Extract, owner of the huge Husab uranium deposit in Namibia. Regent Pacific already owns about 2.7 per cent of Kalahari.

Dattels is executive chairman of Polo Resources, which sold out of Extract last year, and is also a former nonexecutive director of Extract.

Rio Tinto also owns stakes in Kalahari and Extract, as does Itochu, but it is unclear what Dattels may have in
mind.

Meanwhile, it is worth noting that the UK regulator ruling in May on China Guangdong and Kalahari means that, for the next three months at least, any resumption of talks between the two must be initiated by Kalahari.

http://www.afr.com/p/opinion/dance_of_the_kalahari_4Gqm1PjfPSXXhDRccbzDsN