Kalahari Minerals In Offer Talks With Third Party
07 March 2011 - 10:04PM
Dow Jones News
Kalahari Minerals PLC (KAH.LN), a mining and exploration firm,
said Monday it is in talks with a third party, which may or may not
lead to an offer being made for the entire issued share capital of
the Company.
MAIN FACTS:
-Kalahari also said discussions with Extract Resources Ltd.
(EXT.AU) remain ongoing and there is no certainty that the parties
will reach any agreement.
-On Feb. 21, Company announced it was holding discussions with
Extract Resources, in which Kalahari holds a 43% interest, to
explore various different options that might simplify the Extract/
Kalahari shareholding structure to facilitate a combination of
Extract's Husab Uranium Project with the neighbouring Rossing
Uranium Mine owned by Rio Tinto PLC (RIO).
-Kalahari shares at 1030 GMT up 48 pence, or 19%, at 309 pence
valuing the company at GBP756.52 million.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296;
ian.walker@dowjones.com
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