Kalahari Minerals claims a maiden uranium resource of 25.1 million lbs of U308 at Ida Dome in Namibia.

The AIM-quoted company, which recently identified a target of 126 to 198 million lbs of U308 at its much larger, minority-owned Rossing South project in the same country, says it expects further drilling will increase the potential resource at Ida Dome. Kalahari has a 39.11 per cent stake in Ida Dome, which was the company’s original project when it floated on AIM at 15p two years ago.

The shares, which reached 46p last February, now trade at 30.25p, where they value the company at £50.4 million. The potential is speculative.

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