Companies: KAH   

Namibia-focused Kalahari Minerals plans to merge with uranium play Extract Resources through a reverse takeover.

Under the proposed deal, AIM-quoted Kalahari, headed by entrepreneur Mark Hohnen, will issue 1.6 shares for each share in Aussie-quoted Extract, where London-based Kalahari already owns a 39.1 per cent stake.

The deal would bring Extract’s potentially promising Rossing South uranium project in Namibia under the same roof as Kalahari’s copper and base metal projects in the same country, including one at Dordabis and Witvlei, where the company hopes to define a copper resource of 250,000 tonnes.

If successful, the deal will combine Kalahari, with an AIM tag of  £51million at 30.5p, with Extract, also quoted in Toronto, valued at the equivalent of £1095 million Down Under. The two companies say the combined group would start with around £15 million cash. 

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Kalahari Minerals	AIM	£62.88m	37.75p	1.00p
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Other company articles:
Kalahari cancels Extract deal			19/11/2008
Rossing glow for Kalahari			11/11/2008
Exploration Insights by Robert Tyerman			06/10/2008
Rio buys into Kalahari			11/09/2008
Kalahari in Namibia merger plan			05/09/2008