Metals Australia: Namibian uranium exposure may account for 35% share spike Thursday, February 16, 2012 by John Phillips Metals Australia (ASX: MLS) has caught some interest from investors this week, with the company's shares hitting an intra-day high of $0.042 today - 35% higher than the closing price on Tuesday 14 February - on increased volume.
The company stated back to the ASX: 'Recent press reports regarding the takeover for Extract Resources (another uranium prospector in Namibia), may account for increased interest in our activities in Namibia.
'Apart from that, the company is unaware of any other information which may account for the price and volume increases in the securities of the company.'
At 15:10 EDST today, Metals Australia shares last traded at $0.039, with over ten million shares having changed hands on the day.
Metals Australia: active in Namibia
The company has recently been active exploring for uranium at its Mile 72 and Engo Valley projects in Namibia, with trenching results delivering some very promising results such as 12 metres at 1075 ppm U3O8.
EXT Price at posting:
$8.61 Sentiment: None Disclosure: Not Held
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