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.

Kalahari Minerals plc ("Kalahari") listed on the Alternative Investment Market (AIM) in London on 21 March 2006 (Code : KAH).

Kalahari has acquired and established a significant and highly prospective portfolio of mineral exploration projects in Namibia.

Kalahari continues to expand it's already substantial knowledge base and through its recently successful listing on AIM has raised GBP 6M to further develop and accelerate its various exploration programmes.


Kalahari Copper-belt
The opportunity in Namibia:


Identification of the copper-belt late 1960's with the discovery of numerous copper-sulphide deposits.
Stratabound, sedimentary-hosted copper deposits, similar to Zambian copper-belt
Only minor development of the resources has occurred. There is a general lack of detailed follow-up over known areas of mineralisation.
Area has not been systematically explored using modern exploration technology.
A strategic geological model has not been applied to assess the "big-picture".

Kalahari Minerals PLC
10 April 2006

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



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



Commencement of drilling at the Husab Project, Namibia



Kalahari Minerals plc, the AIM listed mining exploration and evaluation group
with a portfolio of copper and uranium prospects in Namibia, is pleased to
announce that diamond drilling has commenced on the first uranium target at its
49% owned Husab Project in Namibia.



A ground spectrometer survey over the Ida Shear indicates uranium mineralisation
along a strike distance of over four kilometres. This anomaly is not equally
developed in all areas and the first drilling campaign will focus on a 1000m
section, with initial drill holes spaced at 160m centres. This phase is expected
to take three months to complete and will comprise of 5,000m of diamond drilling
with some holes up to 300m in length. A second drill rig will commence work in
the near future.



The uranium-bearing pegmatitic granite that has intruded the hanging wall of the
Ida Copper Mine Shear in the license area shows an apparent width of up to 60m
at surface. Recent Spectrometer assays, taken by Extract Resources Ltd, adjacent
to the mineralized horizon have a peak value of 665 ppm equivalent uranium (eU),
with higher values relating to zones of smokey quartz and biotite development.
Secondary uranium oxide minerals (gummite) have also been observed.



A nearby groundwater source has been located from where water will be abstracted
for the drilling.



Ground spectrometer work on other areas of the 550 km(2) project area is also
continuing, with a number of additional drilling targets already established.



The Husab Project (EPL3138) is a joint venture with Extract Resources Ltd, a
company whose shares trade on the Australian Stock Exchange. Kalahari, through
its wholly-owned subsidiary West Africa Gold Exploration (Namibia) P/L (WAGE),
holds a 49% stake in the project. The project is situated in a known uranium
province strategically located between the Rossing uranium mine (Rio Tinto
68.6%), one of the world's largest uranium mines, and the Langer Heinrich
deposit, currently being developed by Paladin Resources.



Chairman Mark Hohnen said: 'With the renewed interest in nuclear energy and
present demand for uranium outstripping supply, it is our intention to advance
the Husab project as quickly as possible because we believe that it has the
potential to host a significant uranium deposit.'



* * ENDS * *

Husab Drilling Commences

Husab Project


Diamond drilling has commenced on the first uranium target of the Husab Project in Namibia, a joint venture between Extract Resources Ltd and West Africa Gold Exploration (Namibia) Pty Ltd, a wholly-owned subsidiary of AIM-listed Kalahari Minerals Plc.

Extract Resources director Peter McIntyre said that a ground spectrometer survey over the Ida Shear indicates uranium mineralisation along a strike distance of over 4km. This anomaly is not equally developed in all areas and the first drilling campaign will focus on a 1000m section, with initial drill holes spaced at 160m centres, he said.

This phase is expected to take three months to complete and will comprise of 5,000m of diamond drilling with some holes up to 300m in length. A second drill rig will commence work in the near future.

The uranium-bearing pegmatitic granite that has intruded the hanging wall of the Ida Copper Mine Shear in the license area shows an apparent width of up to 60m at surface.

"Recent spectrometer assays adjacent to the mineralized horizon have a peak value of 665 parts per million (ppm) equivalent uranium (eU), with higher values relating to zones of smokey quartz and biotite development. Secondary uranium oxide minerals (gummite) have also been observed, Mr McIntyre added.

A nearby groundwater source has been located from where water will be abstracted for the drilling. Ground spectrometer work on other areas of the 550sqkm project area is also continuing, with a number of additional drilling targets already established.

The project is situated in a known uranium province strategically located between the Rossing uranium mine (Rio Tinto 68.6%), one of the worlds largest uranium mines, and the Langer Heinrich deposit, currently being developed by Paladin Resources.

Extract Resources Ltd is a listed mining and exploration company based in Perth, Western Australia.

Extract Resources (Namibia) (Pty) Ltd has entered into a farm-in joint venture agreement with West Africa Gold Exploration (Namibia) Pty Ltd, in respect to the mineral rights on the Husab EPL 3138 located in Namibia. Under the terms of the JV, Extract can earn a 51% interest by expending $400,000 on the project, within a 18 month period.

- 12 Apr 2006

Looks tasty, Julian. Broad portfolio is attractive - particularly enticing in view of the fact that copper deposits are already known to be in place. have added this to my watch list.

Kalahari are presenting at the proactiveinvestors presentation next week, along with PAF !

Admission is free, as are the after speach drinks and eats !

http://www.proactiveinvestors.co.uk/eventregistration.php

Should be a good evening, maybe see some of you there?

media comment, click HERE

Tipped in Smallcapshares.co.uk - 23/07/07

Wow what a drop - any views on why ?

media comment, click HERE

In depth article - click HERE

Crikey, it's on the end of a catapult, wish it could tow VML with it !

Another nice week at the office. Apart from the general slump in early Jan what an excellent chart - no rampers needed for this one

Missed out on this one, ouch ! how far is this going to go ?, many a time by the time I get in things start to slacken off !

I am banking on this one to be another GFM. I too missed out yesterday with GFRD - waited for it to drop to 74p and wham a 13 % increase.

New article, click HERE

7 August 2008

Kalahari Minerals plc ('Kalahari')

Maiden Uranium Resource for Ida Dome Project, Namibia




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.




Extract Resources (ASX & TSX: EXT), a uranium exploration company with projects in Namibia, Africa, today announced a maiden resource on the Ida Dome Project of 25.1 m lbs U308, within the Garnet Valley, New Camp and Ida Central zones. These areas have not yet been closed off, and will continue to grow along with the resource drilling currently occurring on Holland's Dome, also within the Ida Dome complex. Specifically, this maiden resource includes the results from 28,852 metres of the drilling completed thus far on the Ida Dome Project, being 48% of the planned 60,000 metre programme. A summary of the resources defined to date is as follows:




Ida Dome Project - Garnet Valley + New Camp + Ida Central Maiden Resource Estimate

Lower Cut
Indicated
Inferred

Tonnes Above
U3O8
Contained U3O8
Tonnes Above
U3O8
Contained U3O8

Cutoff (Mt)
(ppm)
(M lb)
Cutoff (Mt)
(ppm)
(M lb)

Garnet Valley

100
0.6
246
0.31
43.5
224
21.39

200
0.5
259
0.26
25.6
263
14.77

New Camp

100



4
156
1.4

200



0.4
234
0.2

Ida Central

100



5.2
170
1.96

200



1.1
238
0.6

Total

100
0.6
246
0.31
52.7
213
24.8

200
0.5
259
0.26
27
261
15.6





Managing Director of Extract Resources, Peter McIntyre, said that the early results for Ida Dome are towards the upper end of target expectations. 'It is extremely pleasing to announce our maiden resource for Ida Dome; it is a solid start for our resource base, and will grow substantially from ongoing work at Ida Dome and from Rossing South to the north. While the Rossing South discovery has recently shifted much of the focus, the Ida Dome Project is still shaping up as a significant project in its own right.' He said that 'the results are also validating the assumptions incorporated in the October 2007 Scoping Study for Ida Dome, which includes the higher-grade Holland's Dome area currently being drilled.'



DETAILS




This preliminary resource statement exceeds the lower range established as an exploration target (24.7 m lbs U3O8 - ASX release 19 October 2007), and the upper range target for Ida Dome as a whole (41.2 m lbs U3O8) is also expected to be exceeded following completion of the 60,000 metre drill programme which commenced in June 2007. The above resource applies to 28,852 metres (48%) of the 60,000 metre programme.




GARNET VALLEY AND NEW CAMP




The drillhole database in the immediate vicinity of the Garnet Valley and New Camp deposits consists of 114 RC and 40 diamond drill holes for 27,127m. The majority of the drilling (122 drillholes) was completed by Extract during 2007 and 2008, with the remaining drillholes having being sunk by a subsidiary of Anglo American Corporation of South Africa in the 1980s.




The drillholes were drilled at angles between -45 and -60. The Extract drillholes were mostly drilled east-west (local grid).




A combination of chemical assaying (20,995 samples) and factored radiometric data (1,714 1m composites) was used for the estimation. At Garnet Valley, five drillholes still remained to be sampled and drilling was ongoing to define the extents of this mineralised system.




A density value of 2.65t/m3 was used for the mineralised zones. This value was chosen after analysis of 42 density samples.




To establish appropriate grade continuity, the mineralisation models for both deposits were based on a nominal 75 ppm U3O8 mineralisation halo. The mineralisation constraints were generated based on sectional interpretation and three dimensional analyses of the available drilling data. The main lithological contacts (e.g. alaskite and sediments) were considered during modelling at Garnet Valley (the lithology being mainly alaskite at New Camp) and were used to guide the modelling of the mineralisation outlines.




The data captured within the mineralisation model was composited to a regular thickness (3m for Garnet Valley and 2m for New Camp) downhole composite length. The composite data consisted of predominantly chemical assay data with some factored radiometric data used where assay results were not yet available.




Based on the composite data, a statistical and geostatistical investigation was carried out to derive appropriate estimation parameters such as high-grade cuts, variogram model parameters and search ranges. High-grade cuts were applied to the 3m and 2m composites prior to grade estimation and ranged from 160 to 950 ppm U3O8.




A three dimensional block model was constructed for the purposes of grade estimation. A parent block size of 40m N by 20m E by 10m RL was selected as the appropriate block size for both deposits based on the current average data spacing and the geostatistical investigations completed. A rotated block model (at 0600) was created to take into consideration the attitude of the domains at New Camp.




The modelled zones are well defined by the existing drilling.




Ordinary Kriging was chosen as the appropriate method for estimating grade.



IDA CENTRAL




The drillhole database in the immediate vicinity of the deposit consists of 36 diamond drill holes for 10,058m. The majority of the drilling was undertaken during 2006, before the commencement of the 60,000 metre resource definition programme that commenced in June 2007.




The drillholes were drilled at angles between -45 and -80, typically to the west. The resulting drilling pattern ranged from 80m by 80m, to 80m by 120m, to 160m by 80m.




To establish appropriate grade continuity, the mineralisation was based on a nominal 75 ppm U3O8 mineralisation halo. The mineralisation constraints were generated based on sectional interpretation and three dimensional analyses of the available drilling data. The main lithological contacts (e.g. alaskite and sediments) were considered during modelling at Ida Dome and were used to guide the modelling of the mineralisation outlines.




The Ida Dome deposit was modelled as 9 distinct domains (3m to 53m wide) with a trend to grid north (north-east UTM). Individual domains can extend for up to 450m.




The data captured within the mineralisation model was composited to a 3m downhole composite length. A statistical and geostatistical investigation was performed on the 3m composites to derive appropriate estimation parameters such as high-grade cuts, variogram model parameters and search ranges. The composite data consisted of predominantly chemical assay data with some factored radiometric data used where assay results were not yet available.




High-grade cuts were applied to the 3m composites prior to grade estimation. A high grade cut of 800 ppm U3O8 was applied to the zones within the classified resource.



A three dimensional block model was constructed for the purposes of grade estimation. A parent block size of 40m N by 10m E by 20m RL was selected as the appropriate block size based on the current average data spacing and the geostatistical investigations completed. The modelled zones were well defined by the existing drilling.




Ordinary Kriging was chosen as the appropriate method for estimating grade.




RESOURCE




Resource estimation and categorisation of the grade estimate was undertaken on the basis of the criteria laid out in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and the Canadian National Instrument 43-101 ('CNI43-101'). An Inferred Resource was defined for the bulk of the mineralisation using the criteria determined during the validation of the grade estimates, with detailed consideration of the CNI43-101 categorisation guidelines. A small amount at Garnet Valley had sufficient supporting data to allow it be considered an Indicated Resource.




Blocks were classified as Inferred based upon a combination of geological-grade continuity and within a nominal 80m by 40m to 80m by 80m drillhole spacing. To be classified as Indicated, the geological-grade continuity had to be better defined within a nominal 40m by 40m drillhole spacing.




An insitu bulk density value of 2.65t/m3 was used when reporting the resource.




The reported resource for the Garnet Valley, New Camp and Ida Central deposits reported above 100 ppm and 200 ppm U3O8 cut-offs are summarised below.




Lower Cut
Indicated
Inferred

Tonnes Above
U3O8
Contained U3O8
Tonnes Above
U3O8
Contained U3O8

Cutoff (Mt)
(ppm)
(M lb)
Cutoff (Mt)
(ppm)
(M lb)

Garnet Valley

100
0.6
246
0.31
43.5
224
21.39

200
0.5
259
0.26
25.6
263
14.77

New Camp

100



4
156
1.4

200



0.4
234
0.2

Ida Central

100



5.2
170
1.96

200



1.1
238
0.6

Total

100
0.6
246
0.31
52.7
213
24.8

200
0.5
259
0.26
27
261
15.6





* * ENDS * *





.





About Kalahari




Kalahari Minerals Plc is an AIM listed mining and exploration group with a portfolio of copper and base metal prospects within western and eastern central Namibia. Two of the project areas, Dordabis and Witvlei, are prospective for sediment hosted copper mineralisation consistent with the world class Zambian Copper Belt. A third project, Ubib, is believed to be prospective for gold mineralisation and is nearby the operating Navachab gold mine.




The Company also has a 90% interest in the highly prospective Namib Lead Zinc Project centred on the old Namib Lead Mine, which was an underground operation from 1965 - 1992. Previous mine studies (non JORC compliant) indicate surface tails and underground mining reserves of 1.65 million tonnes at 5.7% zinc, 1.6% lead and 40.2 g/t silver. Kalahari aims to take the project to bankable feasibility study stage with a view to re-commencing mining operations in the short term.




Additionally, the Company holds a 39.11% interest in ASX listed Extract Resources Limited, which is focused on uranium exploration. Its key project is the Husab uranium project in Namibia where results from an ongoing drilling programme reinforce the Company's belief that the area has a strong potential to host an economic uranium deposit.




About Extract

Extract Resources is an Australian-based uranium exploration company whose primary focus is in the African nation of Namibia. The Company's principal asset is its 100%-owned Husab Uranium Project which contains three known uranium targets: Ida Dome; Hildenhof; and Rossing South. Rossing South represents the Company's first new discovery in this area with 'world class' potential. Extract is listed on the ASX and the TSX under the ticker symbol 'EXT'. For more information on Extract visit www.extractresources.com.


This information is provided by RNS
The company news service from the London Stock Exchange

END
cyril

Angela Balakrishnan
The Guardian,
Thursday July 31 2008

Bright future

Aim-listed mining exploration group Kalahari Minerals has a portfolio of copper and base metals in Namibia and a 39.1% interest in Extract Resources. An announcement by Extract said its preliminary exploration goal for its Rossing South project in Namibia is 126m to 198m pounds of uranium. Analysts say the quality of Kalahari's resources and the proximity to Rio Tinto's Rossing uranium mine make the company an attractive target. Fairfax says it is only a matter of time before Rio Tinto seeks to extend its reserves and will look at Kalahari's licence area. Shares rose 5.3% to 29.75p.

http://www.guardian.co.uk/business/2008/jul/31/marketforces

This imho has to be good news?
LONDON (Thomson Financial) - Kalahari Minerals Plc. said it has agreed to
buy Australia's Extract Resources Ltd.
Kalahari, which holds 39.1 percent of the Australian group, said it will pay
1.6 of its shares for each Extract share.
Kalahari said the offer values Extract shares at A$0.99, a 4.2 percent
premium to the volume weighted average price in the one month up to Tuesday.
The company said the deal constitutes a reverse takeover and the new company
will be dual listed on AIM and the Australian Securities Exchange
Cyril

I thought so too but the market seems to have missed the point !! (as if there was any chance of that!!) Good luck - I am staying with this one long term and currently expecting an improved SP when the price of metals etc improves to near normal.

Report from proactive on the deal.and Extract Resources agree to merge
by Ian Mclelland

Kalahari Minerals (AIM: KAH) and Extract Resources (ASX, TSX: EXT) announced this morning that the two companies had agreed to merge.

Kalahari Minerals already hold a 39.11% interest in Extract Resources, and both companies are focused on mineral exploration in Namibia. Both companies also share a number of directors, and considering the current tight environment for fundraising, both companies also share a commonality of having healthy cash balances considering neither is generating any revenues yet.

The announcement this morning stated that Kalahari would issue 1.6 shares for every Extract Resources share, and that the combined company would be listed on the ASX and AIM, implying that Extract would drop its listing on the TSX. The combined company will also start life with approximately 15 million in the kitty and is likely to have a market capitalisation north of 100 million.

So should investors be pleased about this update? In a nutshell, yes.

Both companies serve to benefit from this transaction, assuming it goes through unhindered. The two companies overlap geographically, and could save considerable amounts on the corporate and administrative front, not to mention pooling their combined expertise, manpower and cash resources into one company. There are many other benefits too.

While Extract Resources has witnessed nothing short of excellent drill results from the Rossing South Uranium Project in recent months, its sole focus on uranium has influenced the share price, as the price of uranium has pulled back considerably from its peak in 2007. Extract has defined a JORC compliant resource of 25.1 million pounds of U308 at Ida Dome, but recently stated that its preliminary exploration target at Rossing South is an impress 126 to 198 million pounds of U308, so the potential is enormous.

Meanwhile, Kalahari, which holds a number of quality assets, particularly copper interests, has arguably been suffering from an identity crisis, as its large investment in Extract Resources has dedicated its own share price movements. Kalaharis primary goal is to define 250,000 tonnes of copper metal at its Dordabis and Witvlei Projects.

Bring the two companies together, and you diversify away from being essentially a one commodity play, to a multi-commodity play, whose key project has the potential to be a world class uranium project. But while you expand your exposure to uranium, copper, lead, zinc and gold, the group as a whole retains a relatively tight geographical footprint in Namibia.

We believe that simplifying our corporate structure and combining the resources of both companies will deliver short, medium and longer term benefits to shareholders of both companies said Mark Hohnen, Executive Chairman of Kalahari.

Dropping the TSX listing probably makes sense too, as the management of the two companies are essentially Australian, but retaining an AIM listing can come in very handy indeed when serious amount of project development capital is required. Based on todays new release, the combined entity believes that Rossing South will be rapidly moved towards a Full Bankable Feasibility study, which precludes a mine development decision.

Critically, shareholders of both companies will retain their exposure to the Husab Uranium Project, particularly Rossing South, and Extract's shareholders will gain access to our portfolio of copper and base metal prospects in Namibia. As one of the largest uranium explorers by market capitalisation on AIM post the Restructure, we can look forward to developing all our projects with support and confidence the company added.

Under AIM Rules, the transaction is considered a reverse take-over for Kalahari, which means the companys AIM listing will be cancelled, and then the new entity will have to reapply to admission to AIM. Both Kalahari and Extract will also hold AGM or EGMs to seek shareholder approval for the deal.
Assuming it all goes smoothly; the combined company should be a stronger more determined company with the assets to deliver substantial value.