Chronic Investor...
Rio takes Kalahari Minerals stake
Created: 11 September 2008
Written by: Martin Li
It seems that managers of Kalahari are not the only ones to recognise the value of a strong position in Namibia's considerable uranium resource base. Just days after the announcement of the merger between Kalahari Minerals and Extract Resources, mining giant Rio Tinto has taken a 14.9 per cent stake in Kalahari and 10.9 per cent stake in Extract
That gives the Anglo-Australian major, which already runs the massive Rossing project in the country, a 16.55 per cent interest in the proposed merged group. Broker Ambrian comments that "although some of the shares were bought on the market, the majority were bought at a 15 per cent premium to Kalahari's market price and a 22 per cent premium to Extract's".
The sums of money involved here are, of course, small beer to a behemoth like Rio Tinto (which is itself the subject of a takeover bid from rival BHPBilliton), but it shows the high hopes the industry has for Extract's Husab deposit, which lies just to the south of Rossing.
IC VIEW:
BuySHARE TIP UPDATE:
Kalahari's shares edged up to 36p, above our buy recommendation (29p, 6 July 2007), and with Rio's interest confirming the world class nature of the Namibian uranium project, and the major very likely to return for more, they remain a buy.
- Forums
- ASX - By Stock
- EXT
- even more media
even more media
-
-
- There are more pages in this discussion • 30 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EXT (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.27M |
Open | High | Low | Value | Volume |
0.9¢ | 1.0¢ | 0.9¢ | $51.82K | 5.741M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 750000 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 16369146 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 750000 | 0.009 |
7 | 2959329 | 0.008 |
11 | 4641318 | 0.007 |
4 | 1685609 | 0.006 |
1 | 500000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 16369146 | 15 |
0.011 | 16881150 | 10 |
0.012 | 14557021 | 8 |
0.013 | 10099423 | 3 |
0.014 | 71428 | 1 |
Last trade - 15.53pm 29/07/2024 (20 minute delay) ? |
Featured News
EXT (ASX) Chart |