News

January 24, 2008

Kalahari Minerals Has Much More Than Uranium Going For It

By Alastair Ford

According to Keith Watson at stockbrokers Evolution, the latest grades from the Namibian Husab uranium property in which AIM listed Kalahari Minerals indirectly holds a stake through its 36 per cent stake in Australian-listed Extract Resources, “substantially improve confidence in a maiden 20million lbs JORC resource being reported in the near future”. The drill results include 27metres at 360 parts per million (ppm), 37metres at 459 ppm, and 50metres at 494ppm. Extract said that the latest numbers won’t be included in the next resource update, due for release at the end of January, but other analysts in the City echoed Mr Watson’s view, referring to the results as excellent news.

Kalahari’s shares rose 2.25p to 28p in response in early trading in London on the day of the announcement, although before everyone in the market got spanked earlier in the week, they has been  trading as high as a wholesome 32p - more than double the March 2006 listing price of 15p. 

As if by magic, Mark Hohnen, Kalahari’s executive chairman, has been in town this week, on his way through from Australia to Cape Town, via Namibia, to meet and greet with peers like Weatherly and...