Extract Directors To Mull Alternatives To Possible Chinese Bid
09 December 2011 - 10:57AM
Dow Jones News
Australian uranium miner Extract Resources Ltd. (EXT.AU) said
Friday its independent directors will review the terms of a
proposed bid that would be triggered by a successful takeover of
its largest shareholder, Kalahari Minerals PLC (KAH.LN), by Chinese
nuclear fuel supplier CGNPC Uranium Resources Co. Ltd. and a
Chinese Africa-focused investment fund.
Extract in a statement to the Australian securities exchange
said its directors would consider all available alternatives to the
possible Chinese bid before making any recommendation to
shareholders.
Kalahari's main asset is an almost 43% stake in Extract, which
is developing a rich uranium deposit in Namibia that neighbors Rio
Tinto PLC's (RIO) Rossing uranium mine.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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