Mr Penkethman said Husab was set to become bigger with exploration success.
"Husab is a giant ... it is a globally strategic asset," he told delegates.
"With further work, the commercial significance of Husab can only increase."
The project contained the most significant uranium resource in Namibia and the fourth-largest in the world, he said, and ore reserve upgrades last month had extended the planned mine life from 16 years to more than 20 years.
The company plans to release a further resource upgrade in the first half of 2012.
The mine is expected to produce 15 million pounds of uranium per year, from a total resource inventory of 513 million pounds.
------------------------------------------------ Now, I ask you, is this the greatest, the very best stock to hold in your 'SUPER' Fund ?
A Stock that will now only grow in value over time
The Guess work has passed, now now shortly EXTRACT will become a major producer of the fuel of the future
The J Curve of EXTRACT's s/p will now start its climb upward and upward and the time shortens till the first pound of U leaves the Company
And this would be an ideal time to buy into EXTRACT
While the BOTS are still controlling any upward movement of the s/p
Once the Mining Licence is approved then the demand for EXTRACT's stock will increase and as demand will be greater than the stock available, up and forever upwards the s/p WILL CLIMB.
And keep in mind there is maybe only a few million shares available to be freely traded as all the remaining stock is now locked in, in safe hands for years to come.
Surely this is the greatest investment of all time for anybody with their SUPER Fund ?
EXT Price at posting:
$7.88 Sentiment: Buy Disclosure: Held
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