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.

http://www.investegate.co.uk/Article.aspx?id=20111130072549P9ADC

8 December 2011

RECOMMENDED CASH OFFER

BY

TAURUS MINERAL LIMITED ("Taurus")
(a company formed at the direction of CGNPC Uranium Resources Co., Ltd. ("CGNPC-URC") and The China-Africa Development Fund ("CADFund"))
FOR

KALAHARI MINERALS PLC ("Kalahari")
Summary
Further to the announcement on 10 November 2011 that Kalahari and CGNPC-URC remained in discussions in relation to a possible offer, the boards of Kalahari and CGNPC-URC are pleased to announce that they have reached agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of Kalahari (the "Offer").

Under the terms of the Offer, Kalahari Shareholders will receive 243.55 pence in cash for each Kalahari Share (the "Offer Price").

The Offer Price values Kalahari's fully diluted share capital, including shares attributable to Options at approximately 632 million.

The Offer will be conditional on, inter alia, acceptances being received in respect of more than 50 per cent. of Kalahari Shares on a fully diluted basis.

There are times when I'm glad I hold certain shares.,.

New corp action.

KALAHARI MINERALS PLC - Take-Over





Taurus Mineral Limited (Taurus) (a Company formed at the direction of CGNPC Uranium Resources Co Ltd and China-Africa Development Fund (CGNPC-URC)) has announced the terms of a recommended Cash Offer (Offer) for the entire issued and to be issued share capital of Kalahari Minerals PLC (Kalahari) on the following basis:

243.55 pence in cash for each Kalahari share held.


You Have The Following Option:

1 Accept the Offer on your holding of 1934 KALAHARI MINERALS ORD GBP0.01 shares.

We will process your instruction on or after 27 January 2012 and your election will be applied to your holding at this time. If you elect to accept the Offer, your shares will not be available for you to sell, or to accept any other Offer unless this Offer lapses. Please note that if you accept the Offer and proceed to sell your shares, you may be liable to buy back costs.



--------------------------------------------------------------------------------


Important Information & Other Key Dates:

The Offer represents a discount of approximately 1 percent to the Closing Price of 246 pence per Kalahari share on 7th October 2011, this being the last practicable Business Day prior to the commencement of the Offer period.

Taurus holds or has received irrevocable undertakings to accept the Offer in respect of 14,339,286 Kalahari shares representing approximately 5.7 percent of the existing issued share capital of the Company.

The Independent Directors of Kalahari having been so advised by Azure and Ambrian consider the terms of the Offer to be fair and reasonable and therefore unanimously recommend that Kalahari shareholders accept the Offer.

Taurus has confirmed that it will not take any action to cancel the admission of Kalahari shares to the Alternative Investment Market (AIM) for a period of six months from the Offer becoming or being declared unconditional in all respects. Taurus is unable to confirm at this stage whether, following the expiry of such time period, it will cancel the admission. Accordingly, Taurus is prepared for the eventuality that Kalahari shares will remain traded on AIM beyond this six month period. However, they can offer no assurances to Kalahari shareholders who do not accept the offer that the shares will remain traded on AIM after six months have elapsed.

If Taurus receives acceptances under the Offer in respect of, and/or otherwise acquires 90 percent or more of the Kalahari shares and assuming that all other conditions of the Offer have been satisfied or waived, Taurus intends to exercise its rights pursuant to sections 979 to 991 (inclusive) of the Companies Act to acquire compulsorily the remaining Kalahari shares to which the Offer relates on the same terms of the Offer.

Please be aware that should you choose to accept the Offer, your entitlement will not be released until the Offer has been declared unconditional in all respects, as stipulated in the Takeover Code. Once the Offer has been declared unconditional in all respects, payment is expected to be made around ten working days following the date of such announcement. You can monitor the progress of the Offer's acceptances through any regulatory news provider. However, we will notify you once your entitlement has been credited to your account.

If you wish to accept the Offer, please do so as soon as possible as the Offer may not be extended.

Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an appropriate professional advisor.

Should you choose not to accept the Offer at this time, we will contact you again if the Offer is extended, the terms of the Offer change, the stock is compulsorily acquired or if we are notified that the Offer is closing.

Please note that acceptance to this Offer will only be applied to your holding at the time we process your instruction.

Should you wish to find more information about the Takeover, please visit the Kalahari website, www.kalahari-minerals.com/.

FOR IMMEDIATE RELEASE

11 January 2012

RECOMMENDED CASH OFFER FOR KALAHARI MINERALS PLC ("Kalahari") BY TAURUS MINERAL LIMITED ("Taurus") (A COMPANY FORMED AT THE DIRECTION OF CGNPC URANIUM RESOURCES CO., LTD ("CGNPC-URC") AND THE CHINA-AFRICA DEVELOPMENT FUND ("CADFund"))



Offer update



On 8 December 2011 CGNPC-URC announced that the boards of Kalahari and CGNPC-URC had reached agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of Kalahari (the "Offer"), the full terms and conditions to which were set out in the offer document issued by Taurus on 5 January 2012 (the "Offer Document").

As set out in the Offer Document, the Offer is conditional upon, inter alia, the Namibian Competition Commission deciding, without imposing any terms or conditions which would have a material adverse effect on the economic value of the Husab Uranium Project in the context of the Wider Kalahari Group, that it consents to the proposed acquisition by the Wider CGNPC-URC Group (which for these purposes shall include the Wider Kalahari Group (excluding Extract)) of control of Extract which will occur once the Offer and the Extract Offer have each become wholly unconditional in accordance with their terms.

On 10 January 2012 Taurus received confirmation from the Namibian Competition Commission that it has approved the proposed merger of Taurus and Extract Resources Limited without conditions. Accordingly condition 1.1(d), as set out in Part A of Appendix I to the Offer Document has been satisfied.

The Offer, which remains subject to the terms set out in the Offer Document, will remain open for acceptances until 1.00 p.m. (London time) on 2 February 2012.

Terms and expressions used in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the Offer Document.