This was in yesterday's West Australian newspaper.
----------------------------- KATE EMERY, The West Australian November 12, 2009, 6:20 am
Extract Resources has stepped up the process to identity potential partners as it continues to weigh up financing options for its flagship Namibian uranium project.
The WA group has asked corporate adviser Rothschild Australia to write to all parties who expressed interest in partnering Extract to develop Rossing South and ask them to formalise proposals.
But the question of whether Extract will look to develop Rossing South in a joint venture or do it alone remains unanswered, with the option of funding the entire project through debt and equity still open.
Newly appointed Namibian-based boss Norman Green, in Perth this week, said he believed the group would have no trouble accessing financing.
"It comes down to the ore body," he said. "The project is so good I don't think that would be a problem, whether it's debt or equity."
Mr Green, who has overseen the development of major projects for South African iron ore producer Assmang, Impala Platinum and Anglo American, is charged with turning the hugely prospective project into a working mine by 2013.
He is the chief executive of Extract's fully owned subsidiary in charge of Rossing South.
Extract plans to complete its definitive feasibility study over Rossing South in mid-2010, when it will put a final estimate on its cost, targeting a resource of 500 million pounds of uranium.
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