Extract Resource in Talks to Sell a Husab Uranium Project Stake to Namibia
By James Paton - Jun 7, 2011 4:59 PM GMT+0800
Extract Resources Ltd. (EXT) said it's in discussions to sell a stake in its Husab uranium project to Namibia's state-owned Epangelo Mining Co.
"We continue to have discussions with Epangelo," Chief Executive Officer Jonathan Leslie said in a phone interview today from London. The talks with the government involve a potential "transaction on a commercial basis," he said.
Extract, the uranium explorer 43 percent owned by Kalahari Minerals Plc (KAH), expects Husab to become the second-biggest uranium deposit in the world, Leslie said. Extract has "no reason for concern" on its application for a mining license in Namibia, he said.
To contact the reporter on this story: James Paton in Sydney at [email protected]
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