Kala­hari in takeover bid

Townsville Bulletin - - Investor -

A CHINESE s t at e-owned ura­nium firm has launched a takeover bid for Ex­tract R e s o u r c e s L t d ’ s l a r g e s t share­holder, Kala­hari Min­er­als plc.

K a l a h a r i ’ s s h a r e s o n Lon­don’s Al­ter­na­tive In­vest­ment Mar­ket for small cap stocks jumped 9.51 per cent to close at $ 4.57 overnight.

Kala­hari is also listed on t h e N a m i b i a n S t o c k E x c h a n g e i n s o u t h e r n Africa, where Ex­tract holds the Husab pro­ject, which it says is the world’s fifth­largest ura­nium de­posit.

Ex­tract yes­ter­day said it would con­sider the im­pli­ca­tions of a pos­si­ble rec­om­mended cash takeover of­fer for Kala­hari.

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