Yup, I'm pretty excited here too & waiting up for the announcement. It's all but certain that Kalahari know what's coming, as "their" people are involved on the ground in Namibia.
However, I don't fancy Kalahari's chances of picking any shares up cheap tonight. :0) Here's something I mused on on the Kalahari BB in the UK:
"The commonly held view is that the Zone 1 estimate will be above the target of 92Mlb @ 250ppm. We should know tonight.
Bear in mind that Forsys was sold last November for C$579, with a resource of 62Mlb @ 110ppm.
Besides RS Zone 1, Extract already has a declared resource of 25Mlb @ 213ppm for Ida Dome and is currently drilling RS Zone 2, which is expected to be larger than Zone 1.
On this basis, even a Zone 1 resource of 70Mlb @ 200ppm would make Extract look cheap. > 90Mlb at a higher grade than that and Extract will look very cheap indeed."
So, even if the announcement were no more than 70Mlb, Extract would still look cheap at the current price. In that circumstance, selling at or below the current market price wouldn't be very clever, would it?
And, of course, assuming Peter Mc lives up to his word, we should do somewhat better than 70Mlb ;0)
Cheers!
Mark
EXT Price at posting:
$1.46 Sentiment: LT Buy Disclosure: Held
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