rio goes shopping

Hi all,

Glad to see you've been looking after the SP so well whilst I've been away. :0)

Just out in the UK: http://fool.uk-wire.com/cgi-bin/articles/200902170840374260N.html

"Kalahari Minerals plc, the AIM listed mining exploration group with a portfolio of copper, base metal and uranium interests in Namibia, was notified on 16 February 2009 that Rio Tinto International Holdings Australia Pty Ltd purchased 3,450,000 ordinary shares in the Company on 12 February 2009, representing approximately 1.93% of the Company's total voting rights, raising its total interest in Kalahari to 28,267,310 ordinary shares representing 15.8% of its issued share capital..."

I see KAH also say: "As shareholders will know, Kalahari has a 40.60% stake in Extract..." That's slightly higher than the 39.73% reported on 9th Feb (http://fool.uk-wire.com/cgi-bin/articles/200902090700089674M.html ). Perhaps KAH have been exercising some of their 1.9m options? Wonder who they got them from & how much they paid? All the March expiry options will clearly be exercised before expiry - looks like there's still another 6.9m or so in total to go (good funding for EXT, reducing C/R requirements). AIUI under ASX rules KAH can't increase by more than 3% in a 6 month period, without making a full offer.

I wonder what this means?: "We will therefore seek to ensure that Kalahari maintains its independence at this critical juncture, to ensure that our shareholders receive maximum value from our interest in Extract." - Another placing by KAH to dilute RIO, perhaps? Might explain some of the activity/PR at the Indaba.

Cheers,

Mark