the truth at last

I decided to print out the so called Initial Substantial Holder notice for ease of digestion. I've never seen a more blatant example of why anyone investing in resources in Africa does so at their own risk.

This document was not just prepared relative to events of the last couple of weeks folks, it was prepared in it's entirety by November 11, 2011. (it's right there at the top of each page).

What is clear now is that CGNPC had the Nab govt or at least it's agents, (Epangelo) in their pocket all the time.

This entire document and all the strategic relationships and obligations under its stated agreements between CGNPC and at the very least, Epangelo, were formulated prior to the Mining License being issued, and the WHOLE DEAL as far as Epangelo is concerned was contingent upon them 'assisting' with the provision and timing of the Mining License... at the Chinese behest!


Get this... P17, point 5

OBLIGATIONS OF EPANGELO
" shall use it's reasonable endeavors to assist Swakop to obtain the Mining License and all other regulatory approvals required for the project as soon as possible after the Signature Date. The parties acknowledge the CGNPC...(get this folks)...WOULD LIKE the Mining License to be issued at least a day prior to the 8 December 2011 to facilitate necessary approvals required ahead of submitting "it's firm intention to make and offer"

Well there you are fellow EXTers. That's how it's done in Africa.

The implications across the entire uranium space are enormous and that no other U producers or even end users took up this fantastic opportunity will always begger belief!

My personal position now is that there is a 80/20 chance that we will pocket 8.65 per share, the 20% chance is that we will receive a better offer either from CGNPC themselves in order to mop up sufficient stock for control of EXT, or from a third party. Don't hold your breath.

I find it impossible to believe that Leslie et al were not at least suspicious of all this and did not implement blocking strategies or establish options and aleagences with other parties for the benefit of shareholders. To be told now that EXT management are exploring ways of adding value for EXT shareholders is a pathetic joke.