Extract Resources Says Partnership Process Remains Ongoing
14 October 2011 - 4:43PM
Dow Jones News
Extract Resources Ltd. (EXT.AU), which is developing one of the
world's largest unmined uranium deposits, said Friday it continues
with the process of securing a possible partner and interest has
been expressed by several partners in its project.
The Perth-based company also said discussions continue on debt
financing and an offtake deal to sell production from the planned
Husab uranium mine in Namibia.
Extract's largest shareholder with a 43% stake is Kalahari
Minerals PLC (KAH.LN), which this week said it had restarted talks
regarding a possible takeover by China Guangdong Nuclear Power
Holding Co. Rio Tinto PLC (RIO), which owns the Rossing uranium
mine that neighbors Husab, has a 14% stake in Extract.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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