"""It is intended that the net proceeds of the Placing will be used to provide Kalahari with the capacity, to the extent that it is able, maintain its stake in Extract Resources Ltd (ASX and TSX: EXT) ('Extract').
Kalahari Chairman Mark Hohnen said, 'The aggressive exploration programme underway at Husab continues to churn out excellent results, particularly at the Rossing South target, which we believe has the potential to become one of the largest uranium deposits in the world. With this in mind, our shareholders expressed an interest in maintaining Kalahari's position in Extract to support its growth, so we were delighted to raise this money, which will enable us to do just that."""
With the money they raise they could gain approx. 6 million extra shares, taking their stake to over 42%.
make your own mind on this one.
EXT Price at posting:
$4.90 Sentiment: Buy Disclosure: Not Held
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