Kalahari's insistence to move all of EXT's mgt, head office stock exchange listings etc to me really only makes sense if we assume that EXT will in the future have no interest in anything outside the Rossing South resource.
For mine it is very much premature to push for this complete transfer to Namibia until we know what the future holds - ie what happens with the corporate playing and how involved will EXT (the ASX listed legal entity) be with the actual mining of the resource.
Whose to say that down the track with funds in the bank that EXT doesn't get involved in the future development of the uranium industry in Australia?
Surely a Nambian subsidiary and local management and operations team in Namibia is sufficient. This could be listed in Namibia down the track. I wonder if they are trying to get away from the ASX/ASIC regulatory environment in Australia? Does anyone know what the Namibian regulatory environment is like.
I have serious questions over Kalahari's real intentions in proposing this.
EXT Price at posting:
$5.80 Sentiment: Hold Disclosure: Held
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