kalahari minerals seeks to move to lse

JOHANNESBURG (miningweekly.com) Aim-listed Kalahari Minerals will apply to move to the LSE main market, chairperson Mark Hohnen said on Friday.

The company, which is a strategic shareholder in Extract Resources, believes that the official list is the most appropriate platform for its future growth, after four years on Aim.

We are confident that this move will provide the company with greater share liquidity, enhanced market exposure and a wider shareholder base, Hohnen said.

The listing would leverage Kalaharis influence and ability to guide the development of Extract Resources' Husab uranium project in Namibia, projected to be one of the largest uranium mines globally.

Husab is expected to produce 15-million pounds of uranium oxide a year, which would make it the second-largest uranium mine in the world based on production.

Kalaharis interest in Extract is expected to increase to 42,83%, following a recently announced share placement. Extract will raise A$60,9-million by issuing 7,3-million shares to Kalahari.