The Russians can gain control of EXT very effectively through...

The Russians can gain control of EXT very effectively through the normal market process if they want really want it and frankly, its control is probably for sale right now for $3-4Billion all day long. Cheap when you consider its a self contained energy solution for an entire nation. Given the likely outcome of the DFS and resource upgrade later in the year, they may be more prepared to consider a premium just to get it. Its not in the Namibian's interest to be seen as a sovereign risk considering its entire future hinges on its relationship with mining investment. Clearly the management issues at EXT post-PM have served to muddy the waters somewhat but which ever way you come at it, there are more risks for Namibia in colluding with a sovereign 3rd party than co-operating in the already advanced development of this and other mines on its ground, in which it can have an INDEPENDENT interest. Another buffeting factor is that the major shareholders are themselves of different national origins but ideologically aligned. This is, as another poster suggested, a posturing exercise on the part of either a frustrated Namibian government, an equally frustrated suitor or both. Its a clear pointer that once the real numbers emerge Q3 and Q4, its game on again!