reasons 1&2

Good afternoon all EXT s/hs.

Shareholders should knock back the merger, or reverse t/o
offer.

Reason.1
EXT could go it alone as we do not need Kalahari.
The only thing they bring to the table is,metals that
are not in favor at the moment, Copper, Zinc & Lead.
The offer of 1.6 shares in KAH for every EXT share, is
insufficient, to say the least, they KAH have talked the
talk re their shares, and EXT shares have been capped
for the last six months.
I spoke to Mr Rance Dorrington the Company Secretary
about the capping back then. And he admitted it was
happening, He stated that EXT could not do anything
about it, and it was up to ASIC to investigate.
IMHO this has continually gone on since then to make
the offer look good. the offer is not good enough.

He Peter Mc has been behind the reverse t/o before
the last capital raising in which KAH was given the
chance to aquire all the shares. Not one ordinary
s/holder was given a chance to aquire shares, only
the s/holders of KAH have benefited.
Which increased KAHs s/holding to 39%, after the merger
KAHs s/holding increases to 46%.
He has orchestrated this very well at the detriment
of EXT s/holders.
EXT has $30 million in the bank, and rossing Sth, and
our other Uranium assets of which we have a JORC Res
of 25 Million Ibs.
We are not being offered fair value for our assets.
IMHO the offer should be 2.5 shares for every EXT
share not 1.6.
The reason I state this is obvious, we EXT have the
resources and Tenements.
So as I have stated before take all the documents and
show them to your Financial Advisor or Accountant and
ask them if its fair value.
I have been around the Stockmarket investing for the

last 30 odd years, and I can not believe a lot of s/hs
on this thread will jump at the first offer.
You only have to look at the valuation Comsec and
Fat Propets and other institutions have on our shares
to see how unfair this offer is.

Reason 2.
If the merger goes ahead.(At a revised offer of 2.5
shares)
With the talk in England of another bid coming after
the merger for the combined entity.(Rumored to be talked
up by Kalahari).
IMHO the Directors should advise no action to be taken by
all S/Hs,or accept any offer until after.
Zones 12&3 and in between have been drilled to a jorc
resource.
That would be better for all concerned.
Imagine having a 300 to 400 Million Ib resource.
If the Directors do not do this they are definately
not acting in our best interests.
100 Million Ib Resource = $ 8 Billion.
200 "" " Ib " " = $16 " " .
And so on.
What the company should also do is, move all their
Drilling Rigs to Rossing Sth to achieve this,(I know
there has been talk of this).
As Harlee said the other day in one of Her posts,they
could flog all their assets off and use the money to
fast track the resource drilling.
I hope the company does this, if not, I hope they are not
in to make fast buck and run.
They could go 2 ways after the resource drilling.
Accept a good offer on behalf of all S/Hs, or produce
ourselves.
I myself prefer to be taken over by RIO or some other
Company but at a very good price for all concerned.

Heres hoping we all kick goals, and live happily ever
after.

Regards Simrose.
DYOR.