This is an old article which I am sure has been posted before...

This is an old article which I am sure has been posted before (its a good one tho). It mentions McIntyre being involved with WMC.

If the correct address is what most impresses investors then anyone
interested in uranium would have to take notice of a prospect which is
roughly half-way between one of the world’s biggest uranium mines, and
another mine in the process of being developed. Husab, in the
uranium-friendly, south-west African country of Namibia, is in precisely
that location with Rio Tinto’s rapidly ageing Rossing mine to the north, and
the Langer Heinrich project of Paladin Resources to the south. Earning a 51
per cent stake in Husab is the small, and until now virtually unnoticed
Australian company, Extract Resources. The balance of the 555 square
kilometre Husab tenement is held by an associated company called Kalahari
Copper, which is in the process of a name change to Kalahari Minerals, and a
stock exchange listing on London’s Alternative Investment Market.

So little has been reported about the Husab tenement, or Extract, or
Kalahari Minerals for that matter, that the ignorance of newcomers to the
situation is forgiveable. In fact, even when talking with the chief
executive of Extract, Peter McIntyre, the early stages of the discussion
explain the name of the company – getting any detail is not unlike an
extraction at a dentist. “We haven’t been beating a drum,” McIntyre says
from his office in the leafy Perth suburb of Applecross. “We’re being very
cautious because there is a need to respect the protocols of doing business
in Namibia, and some Australian company’s have been less respectful.”

There is, however, a difference between being observant and having a profile
which is so low that a search of electronic media libraries in Australia
will find just one reference to Husab and Extract over the past year.
Notices filed at the stock exchange are a different matter and anyone
interested in doing some “data prospecting” will find tantalising
bits-and-pieces under the EXT code on the ASX website. The essential message
is that Extract thinks it is on to a potential company-maker at Husab,
especially with Rossing just 10km to the north and Langer Heinrich 30km to
the south. Uranium indications at Husab abound, whether from sampling old
stockpiles of copper and fluorspar , or from airborne radiometric surveys,
or hand-held spectrometer (Geiger counter) surveys. In one chip sampling
exercise,a useful but most imprecise exploration tool, a uranium assay of up
to 2.9 kilograms a tonne was recorded from fluorspar veins at the old Husab
mine which is the centre of Extract’s tenement.

Extract’s 51 per cent is being earned by spending the unprincely sum of
A$400,000 over 18 months on exploration. That has involved gathering data
and looking for two types of uranium mineralisation, Rossing-style hard-rock
material, and the softer calcrete material near surface to be mined at
Langer Heinrich. “The airborne radiometric data we gathered highlighted some
fairly interesting looking trends of high uranium-count zones,” said
McIntyre, a career engineer who has previously managed the St Ives and
Norseman goldmines for the old WMC Resources. Extract staff had followed up
the airborne data, hitting the ground last August with hand held
spectrometers, substantiating what had been detected from the air. “That, in
turn, honed us in on three primary targets which we hope to start drilling
by the end of the month,” he said.

McIntyre said the drilling targets were in a sensitive area and Extract was
doing everything possible to minimise disturbance to the environment. “The
plan is to put down a series of holes with a target depth of 200metres,” he
said. “We’re targeting material similar to that mined at Rossing, it’s for
primary uranium mineralisation, rather than the calcrete ore being mined at
Langer Heinrich.” If all goes smoothly, Extract should be reporting its
first drill-core assays in March, or April, depending on the speed at which
they can be processed in very crowded laboratories.

On the market, some earlybirds have got a sniff of what Extract is up to,
despite the super low profile adopted by the company. Last week, as Minesite
reported in its weekly summary of activity on the Australian stock exchange,
the stock jumped by 56.6 per cent in very heavy turnover which saw 423
million shares exchanged, roughly 70 per cent of Extract’s issued capital.
Of added interest was the total trade of 112 million shares on Monday,
January 30, when the stock opened at 5.6 cents. The same number of shares
(112 million) were reported as being traded on Wednesday after the price had
risen to a high of 8.7 cents. If it was a quick in-and-out deal someone
today is walking around A$3.3 million richer for three days of well-timed
“work” (thank you!).

Giving Extract more substance than an ambitious uranium hunt in the Namibian
desert is a small Australian goldmine which the company has just brought on
line. The Burnakura project is a re-run of earlier operations at the site,
about 50kms from Meekatharra, when the area was controlled in the 1980s by
companies such as Metana Minerals and Eastmet. First gold has been poured at
Burnakura, and while output is forecast to be a modest 45,000 ounces a year
it will be at a very profitable A$380 an ounce which is less than half the
current Australian gold price of around A$750/oz, and has the potential to
expand. Cash from Burnakura will go a long way to paying for Extract’s
exploration operations in both Australia, and at the extremely interesting
Husab project in Namibia.