As copper becomes ever hotter property and the tantalising price of $3/lb heaves into view, at least for the optimistic among us, companies with their focus on the metal naturally become more interesting. A recent newcomer to the London market, Kalahari Minerals [AIM:KAH] can offer investors no less than three copper projects, with a uranium joint venture thrown in to add piquancy to the proposition.

Altogether, Kalahari can already boast an estimated 250,000 tonnes of copper in the ground across its Namibian ground, which makes it clear that the company has moved beyond exploration and into the pre-feasibility phase with its two key projects. The area in which the company is operating was explored preliminarily by other players back in the 1970s, and a sizable portion of the presently known resources originate from this spell, but failure by those then exploring to come across any very large targets plus a deteriorating political situation in Namibia brought proceedings to a halt.



Now that the copper market looks very different and the politics of Namibia have improved, Kalaharis ground is a lot more desirable. Indeed, the companys Chairman Mark Hohnen admits that it has been lucky to have been able to stake the areas it has, which essentially amount to a large slice of the Namibian section of the Kalahari copper belt, which has some geological similarities with the much storied Zambian copper belt.

Kalaharis first order of priority is the Dordabis project, within which it has homed in on a deposit known as Koperberg. Drilling here has identified oxide and sulphide zones of mineralisation and recorded some good intersections, the highlight of which has been 5 metres graded at 3.43% copper. A small scale pilot processing plant is already recovering copper cathode on site.

The Koperberg resource is still open, and an alluring possibility raised by Hohnen is that it could conform to the Olympic Dam geological model. That is, a massive body of IOCG (iron oxide copper gold) mineralisation with significant smatterings of uranium. It is too early to tell whether this is the case or not, but such a scenario is certainly something pleasant to dream of for Kalahari shareholders, and the company has allocated funds specifically towards testing this hypothesis.

Kalaharis second key project goes by the name of Witvlei, and hosts five known copper deposits along with a number of prospects. The next step for the company will be to try and expand the existing deposits and define resources at the prospects in order to come up with a total resource of a potentially economic size.

If this resource development programme comes up with the goods, Hohnen suggests that an attractive option for Kalahari at Witvlei may be the tried and tested development model of establishing initial cash flow from oxide material before moving on to trickier-to-process sulphides. The same development path could also be worth considering at Koperberg if the Olympic Dam model is not found to hold true there.

Kalaharis only grassroots stage project is Ubib, which has been is known to host copper gold mineralisation with a hint of uranium but needs appraising more thoroughly before much more than this can be said. The project is located some 15 kilometres from Anglo Gold Ashantis Navachab gold mine, which obviously auspicates well. Current work is centred on stream sampling to help identify prospective target zones for the application of more advanced exploration techniques.

The Husab uranium project, which is a joint venture with Extract Resources [ASX:EXT] structured to give Extract 51% and Kalahari the remainder, has surprised both companies. Hohnen says that little was thought of Husab until last year, when some great radiometric anomalies were turned up. The presence of uranium along with other metals has now been confirmed, and diamond drilling to test the deposit at depth begins in the next couple of weeks.

Husab is located right between the Rossing uranium mine, owned by Rio Tinto [LSE:RIO; NYSE:RTP], and the Langer Heinrich deposit, which is being developed by the uranium darling of the Australian market, Paladin Resources [ASX:PDN]. Extract has already gained significant recognition from its constituency of investors for Husab, and if drilling confirms the joint venture partners optimism, then the project could well help win Kalahari some fans in the London market, where uranium plays are not as numerous as they could be, and hence much in demand.

Investment Outlook

Kalahari has raised 6 million by way of its AIM listing, and intends to devote the largest portion of this sum to work at Dordabis. Therefore, this is the project that investors should be keeping their weather eye on. Significant progress down the road to feasibility is sure to add value to the company, other things, such as the copper market, being equal.

But in addition to Dordabis, there is scope for either or both of Witvlei and Ubib to shape up and grab investors attention. Husab already stands out, and with a high level of market interest in new uranium projects still apparent, it is a nice asset for Kalahari to have.

ateeq180, i've tucked my certificates (which i bought sub 30p) in my re-visit 5 years time folder. I believe the demand for uranium will just grow and outstrip
supply and with it a large premium to, todays levels?
aimho
cyril

Rio paid 38p for their shares so if there is a bid coming it is going to be in excess of that price.

Kalahari Minerals plc, the AIM listed mining exploration group with a portfolio of copper,
base metal and uranium interests in Namibia,
announces that Rio Tinto International Holdings Australia Pty Ltd ('Rio Tinto') has increased
its stake in ASX listed Extract Resources
Limited ('Extract') through the purchase of 4,684,033 ordinary shares on 18 September 2008.
This purchase increases Rio Tinto's substantial
holding to approximately 13.1% of Extract's total voting rights. This is following Kalahari
and Extract's announcement on 5 September 2008
regarding the proposed restructure by means of a merger of the two companies.

This purchase follows Rio Tinto's purchase of approximately 14.9% and 10.9% in Kalahari
and Extract respectively on 11 September 2008.

The restructure will consolidate ownership of the assets of each company into a single
corporate vehicle (the 'Enlarged Company'). It is
intended that the Enlarged Company will (subject to required approvals) be dual listed on AIM
and the ASX. Post restructure, Rio Tinto will
hold approximately 18.6% in the Enlarged Company.
Looks like RT are nibbling away?
cyril

Taken from another thread by fordtin.

Martin - posted the following on your hot copper '30% take-over' thread

Interesting to compare the significant holdings given on the website with the announced changes and last years website figures .
Would it be reasonable to assume that the Cenkos Channel Islands, account for the Niger holding and Euroclear are the new hiding place for the Blakeney LLP shares? HSBC Global Custody Nominee (UK) Limited holds exactly the same amount as City Natural Resources once held which would leave Geiger Counter and Henderson hiding in either Pershing or the Bank of New York.

166,559,130 * 3% = 4,996,774
any changes to a holding above this figure which cause it to cross a whole percentage point (up or down) must be reported "without delay"

Significant holdings reported since admission to AIM
(I have excluded any which have been superceded by a later change or reduced to below 3% via dilution)

10 September 2008 - Rio Tinto - 24,817,310 - 14.9%
08 September 2008 - Rab Capital - 5,227,747 - 3.14% (edit - this is reported as an indirect holding, is this something to do with their 16% of Niger? )
25 June 2008 - CQS - 11,716,667 - 7% [comprising (City Natural Resources - 6,716,667 - 4%),( Geiger Counter - 5,000,000 - 3% )]
17 April 2008 - Niger Uranium - 27,680,000 - 16.62%
15 April 2008 - Blakeney LLP - 17,840,000 - 10.71%
25 March 2008 - Henderson Global Investors Ltd - 6,400,000 3.84%

from company website

Key Shareholders as at 22 May 2007
RAB Special Situations (Master) Fund Ltd .....18,394,577
Coronet Resources Ltd ........................16,000,017
RAB Energy Fund Ltd .......................... 4,897,964
Willbro Nominees ............................. 4,027,215
Philip Richards .............................. 4,027,215
FMR Corporation .............................. 3,482,996
M.A. Hohnen ...................................3,047,622

Key Shareholders as at September 2008
Cenkos Channel Islands Nominee Company Limited ....... 27,780,000 ...16.679%
Rio Tinto International Holdings Australia Pty Ltd ... 24,817,310 ...14.900%
Euroclear Nominees Limited ........................... 18,106,200 ...10.871%
Coronet Resources Limited ............................ 16,000,000 ... 9.606%
Pershing Nominees Limited ............................ 10,915,900 ... 6.554%
The Bank of New York (Nominees) Limited ............... 8,366,000 ... 5.023%
HSBC Global Custody Nominee (UK) Limited .............. 6,716,667 ... 4.033%
The Bank of New York (Nominees) Limited ............... 5,968,701 ... 3.584%
Pershing Nominees Limited ............................. 5,835,300 ... 3.503%
BNY (OCS) Nominees .................................... 5,200,000 ... 3.122%
total = 73.961%

The EXT announcement dated 16th Dec 2005 suggests that Coronet are controlled by EXT directors, hopefully some of the long term holders here might be able to provide more detail.
http://www.asx.com.au/asxpdf/20051216/pdf/3ts7y8r9f1q0s.pdf


I think this is the rule Martin was referring to;

SECTION F. THE MANDATORY OFFER AND ITS TERMS
RULE 9
9.1 WHEN A MANDATORY OFFER IS REQUIRED AND WHO IS
PRIMARILY RESPONSIBLE FOR MAKING IT
Except with the consent of the Panel, when:
(a) any person acquires, whether by a series of transactions over a
period of time or not, an interest in shares which (taken together with
shares in which persons acting in concert with him are interested) carry
30% or more of the voting rights of a company; or
(b) any person, together with persons acting in concert with him, is
interested in shares which in the aggregate carry not less than 30% of
the voting rights of a company but does not hold shares carrying more
than 50% of such voting rights and such person, or any person acting
in concert with him, acquires an interest in any other shares which
increases the percentage of shares carrying voting rights in which he is
interested,
such person shall extend offers, on the basis set out in Rules 9.3, 9.4
and 9.5, to the holders of any class of equity share capital whether

http://www.thetakeoverpanel.org.uk/new/codesars/DATA/code.pdf
(page 110)

cyril

29 September 2008

Kalahari Minerals plc ('Kalahari')

Strongly mineralised uranium zones continue at Rossing South

Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of copper and base metal prospects in Namibia, is pleased to provide an update released by Extract Resources Ltd ('Extract' or 'the Company'), in which Kalahari's subsidiary, Kalahari Uranium Limited, holds a 39.11% interest. Kalahari and Extract announced on 5 September 2008 the proposed restructure by means of a merger of the two companies by a recommended scheme of arrangement under the Australian Corporations Act.

Kalahari Chairman Mark Hohnen said, 'These are another set of excellent results from Extract further strengthening our belief that Rossing South is well on its way to achieving the preliminary target of between 126 and 198 million pounds U3O8. The results that we are witnessing are a clear indication that Rossing South is indeed, shaping up to be one of the most significant new uranium discoveries in the world in recent years.'

Extract Resources, (TSX:EXT;ASX:EXT), a Uranium exploration company with projects in Namibia, Africa, today announced further wide zones of high grade uranium mineralisation, at Rossing South.

Chemical assay results and downhole spectrometer data from Reverse Circulation (RC) drilling continue to demonstrate the continuity of alaskite hosted uranium mineralisation in both Zone 1 and Zone 2.

Three large capacity RC rigs continue to operate at Rossing South drilling Zone 1 on a 100 x 100 metre spacing to define an initial resource within the first quarter 2009. An additional two RC rigs are expected at Rossing South within the next four weeks. Once Zone 1 has been drilled out, resource definition drilling will resume on Zone 2.

Visual signs of uraniferous alaskite, such as smoky quartz and abundant biotite, along with hand held spectrometer readings taken from the one metre bulk RC samples, continue to indicate the intersection of broad zones of strong uranium mineralisation. These positive field indicators, along with the steady flow of quality chemical assay results from Rossing South, support the Company's view that Rossing South has the potential to become one of the largest uranium discoveries in many years.

Some of the chemical assays mentioned in this release have previously had downhole spectrometer results reported (ASX release 13 May 2008). A comparison of the downhole spectrometer surveys with the chemical assay results indicate the metal content is approximately 20% less with the chemical assays, which is as expected. The Company continues to treat spectrometer information as an estimate of the uranium mineralisation whilst waiting for confirmation by chemical assay results.

A more regular flow of chemical assay results is being returned now that the Company is also using the pressed pellet x-ray fluorescence ('XRF') method. Comparison sampling between the four acid digest, inductively coupled plasma mass spectrometry method and XRF have been favourable.

Extensive exploration potential still exists on the Husab Project with the remaining nine kilometre zone of prospective stratigraphy at Rossing South yet to be tested. Work on this and other target zones is planned for later in 2009, once the Company has established a maiden resource at Rossing South.

cyril

New article, reads well!

Click HERE

RNS Number : 4660I
Kalahari Minerals PLC
19 November 2008

Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration

The information contained herein is restricted and is not for publication, release or distribution, directly or indirectly, in or into the United States or to residents or citizens of the United States.

19 November 2008

Kalahari Minerals plc ('Kalahari' or 'the Company')

Termination of Proposed Restructure of Kalahari Minerals Plc and Extract Resources Limited

Overview

Implementation Agreement for proposed restructure of the ownership of Kalahari Minerals Plc and Extract Resources Limited terminated

Kalahari currently holds 39.11% of Extract's ordinary shares and will pursue other options to maximise the value of its stake

For the reasons outlined below, Kalahari Minerals Plc has formally advised Extract Resources Limited (ASX & TSX: EXT) ("Extract") that the approval of its shareholders will not be able to be secured and the merger announced on 5 September 2008 (the "Restructure") will not be able to be implemented.

As a result, the directors of Kalahari and Extract announce that the Restructure Implementation Agreement dated 5 September 2008 ("RIA") has been terminated and the Restructure will not proceed.

Background

The terms of the Restructure were announced to the market on 5 September 2008.

On 11 September 2008, Kalahari announced that Rio Tinto ('Rio") had acquired a 14.9% interest in Kalahari and a shareholding of 10.9% in Extract (Rio has subsequently increased its shareholding in Extract to 13.1%). Rio acquired its shares in both Kalahari and Extract from RAB Capital, which had been put under unforseen financial pressure caused by the global financial crisis. This was unfortunate as RAB had been a major supporter of Kalahari (as well as Extract) pre and post its float on AIM, fully participating in the Company's last capital raising in March 2008.

After the Restructure, Rio would have held approximately 19.8% of the enlarged company (on a diluted basis) and would have been entitled to further increase that stake without being subject to the 20% limit under the Australian takeovers provisions.

Following Rio's emergence on the register of Kalahari and Extract, concerns were raised by a number of Kalahari's larger shareholders about the potential for Rio to acquire effective control of the merged company without paying a premium for doing so. In addition, a number of those shareholders were concerned that Rio's material holding in the combined group would give it an unhealthy level of control and/or influence in relation to any future negotiations involving a potential transaction between Rio (or its related company, Rossing Uranium) and the merged company either at the asset or the corporate level.

Kalahari therefore sought further guidance and assurances from Rio regarding its intentions for the future control of the enlarged company.

In particular, Kalahari sought a commitment that Rio would not increase its shareholding in the combined group for a period of time after the merger was implemented (subject to a number of agreed carve-outs such as a third party making an offer for the merged company).

Unfortunately, it is now apparent that a standstill commitment will not be able to be agreed with Rio on terms which would satisfy the concerns raised by Kalahari's shareholders.

Kalahari has therefore advised Extract that it does not have the support of its major shareholders to pass the requisite resolutions at the planned meeting of Kalahari shareholders and the Restructure will not be able to be implemented.

Kalahari retains a 39.11% interest in Extract and now intends to consider a range of other options with a view to maximising the value of that interest.

(EDITED)

cyril

Deal off!

Click here

New article, Click HERE

Taken my eye of this of late, record high and record trading this week with today more than double the previous best?
cyril

Just look at that chart,really flying at the minute. Worth checking out is URU who
hold a large %'age of these(more thanM/C alone), + 3M in cash and its own project for free.
cyril

Calamari......uranium squid soup of the day, along with Vane minerals, flying today indeed...been in since the 40p mark...best performing stock in my porfolio it seems !.

This is going ballistic...where is the top here ?, a pound or more ?.

Blimey, this looks like VOG of a few years ago but with more substance....could go all the way to 120p...perhaps ?.

Further to go tomorrow morning...big big buys coming in...one of the largest uranium deposits in the world...!.

Well for me this was the dish of the day !.

Time to delve into the bottom draw methinks and dust of these beauties, up
100% so far. Just goes to show what patience can bring?
URU which i mentioned earlier has an interest worth 25m in KAH against
a M/Cap of just under 18m, although the real bargain appears to be EXT which is the owner of the Rossing field, needs to be traded on the ASX though.
It seems that Rio has shown its hand and looks like they may try to take out
EXT via Kah via URU, all good conjecture but thats my feeling on whats going on?
I was posed to buy into URU and was planning to start up a new thread, although i've missed the main surge i'll be interestd to see the action 1st thing tomorrow?

cyril

Another company invested in KAH is EML who have over 11m shares, up 44%
but still worth taking look as they have approx 11m cash in the bank.

Just realised i in got at 33p so up 150%+, 40p was the price i told my neighbour
to buy at.
cyril

I'd like to think that the rise will continue....there may be some halts in a day or so.....question is : when is the best time to take some profit ?...this stock looks like a cracker...."one of the biggest uranium discoveries in the world"....well if that is true and the market seems to think so...1st stop at 120p (guesswork) followed by a pullback and then further climbing later....timing the ins and outs will be tricky !.

this is not a stock i have ever followed even remotely, but is the present stellar rise merely based on hype and lemmings following lemmings, or is there actually something sensible behind it all?