extract rejects project funding problems, page-2

Thanks, Westsurf

"_The West Australian _understands about 20 groups have expressed an interest in developing Rossing South. They are believed to include Korea Electric Power Corp, major shareholder Rio Tinto, Russia's state-owned Russian State Atomic Energy Corp (Rosatom) and the Namibian Government-owned Epangelo Mining.

Rumours that Paladin Energy approached Extract about a merger, only to be opposed by Extract's 40 per cent shareholder Kalahari Minerals on price concerns, have yet to be confirmed by either side.

Mr Henning also denied speculation that frustration over the slow pace of development at Rossing South could result in the Namibian Government giving a stake to Rosatom."