"This was just published on AIM. Looks bad news to me."
Rangefinder, no, its good news. Read on...
Its only a 7% discount they are asking for and...
"CGNPC-URC retains the right to make an offer for Kalahari at 290 pence per share, irrespective of the outcome of the appeal".
Meaning: "we don't care, if we can't get the discount we will take it anyway".
7% is trivial. Its probably what Katali wants for Epangelo.
RIO might pounce! All RIO has to do is build a 7km conveyor and move its equipment to the new site. Cost them less than keeping Rossing in production which only has about a year left anyway (same as Ranger). Also, RIO's share price is high making a cash and script offer easy for them to afford.
If CGNPC-URC don't get Husab they will be paying 200% for their uranium when demand out strips supply.
If RIO don't get Husab they are finished in uranium.
It will be interesting to see how things pan out.
EXT Price at posting:
$6.68 Sentiment: Hold Disclosure: Held
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