ext looking interesting, page-44

Minews Story Date: October 11, 2006
Kalahari Minerals Cranks up the Drilling
By Rob Davies

"Listing on AIM in March this year enabled Kalahari to enjoy favourable conditions before life started to get difficult for junior explorers. It raised £6million at 15p and almost immediately put the money to work drilling for uranium in Namibia. Its most advanced prospect is Hsub and assays from 9 of the 15 holes drilled so far have returned grades of 2.32 kg/t U3O8 and 1.06 Kg/t U3O8 over lengths of 8 and 14 metres respectively. That might be hard for most of us to interpret but Peter Mcintyre, executive director, puts it into context by saying that at current metal prices those grades have the equivalent dollar value of 16 and 7 grammes per tonne of gold respectively. Put another way the grade at Rossing when it started was 0.3 kg/t. In other words Hsub looks very prospective. Kalahari owns 49 per cent, though Peter Mcintyre is also an Executive Director of Extract Resources that owns the remainder.

Peter is clearly excited about Hsub pointing out that the company has only investigated 480 metres of the 4 kilometres of strike length of the Ida zone that the radiometric survey identified as being prospective. So far only 4,730 metres of the 8,000 metre drill programme has been completed so the news flow should be maintained. A second target zone of 15 kilometres has also been identified even closer to Rossing and the company is about to start a reverse circulation drill programme on that. Drill results are only one part of the discovery process and it is difficult for the market to put a value on a company until a resource statement has been produced and for Hsub that is probably at least six months away."

Extract has 51% of Husab so why would you regard kalahari as better? Not to mention the 2 exclusive epl's in waiting, which are due very very soon. EXT will be exceptional and there is plenty of supporting positive information to this prospect.