Despite all the gloom coming out of Europe right now it's worth noting KAH has been significantly up over the last two trading days (from recent lows admittedly).
Re the Dec 8 deadline for CGNPC commitment to an offer for KAH, It seems to me that their intention is really to maintain 'pole position' while waiting for the ML like the rest of us. In fact I think it's fair to say that their strategy of protecting their offer extension options is further confirmation that our ML is imminent. I think its fair to suggest also that given the size of the Husab project, it's importance to the Namibian economy and the reputation of it's regulatory system, that this ML application more than any other is under the spotlight right now. I personally no longer care about the Chinese offers as they are now obviously only intended as a place holder.The ML will be the catalyst for the re rating of the SP and the catalyst for action by them (at the right price) or other interested parties.
It's clear now that even at the second revised offer at 270 for KAH, Hohnen was not willing to play ball, otherwise the deal would have been done.
Interesting to note that RIO will probably take out Hathor given their clout. I don't think Cameco have the pockets for EXT on their own but must be champing at the bit to get a chunk of it. They could do it with a partner easily...what a slap in the face for RIO that would be. Actually, by isolating Cameco in this way, they have added one more potential competitor for Husab.
Just a few really morning ramblings
EXT Price at posting:
$7.43 Sentiment: Buy Disclosure: Held
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