Member Info for researchit

EXT volume last night was just short of 800,000 the largest day traded volume since June

EXT back above Aus$10 overninght. Live price $10.01 up 3.84%

Extract is talking about a 500 million pounds resource, which would support a 15 million pounds of uranium a year operation. But getting a new mine up and running is one thing, dealing with corporate politics quite another. Not only will the group’s new boss have to juggle the interests of Rio, Kalahari and Stephen Dattels’ Polo Resources, which between them control 65 per cent of the company, but they will almost certainly be faced with a takeover bid within the next 12 to 18 months Rio is widely expected to make a bid, given its Rossing mine borders Extract’s Rossing South deposit, but there has also been speculation it could face an approach from a third party. Interested bidders are likely to want to move sooner rather than later. Extract shares are up 606 per cent this year alone, valuing the group at $2.2 billion.

Hot stock Extract juggles challenges Extract eyes new chiefs 492 words 12 October 2009 The West Australian TWAU First 33 English (c) 2009, West Australian Newspapers Limited Good staff are hard to find at the best of times. Spare a thought for Extract Resources, which has been on the hunt for a Namibian-based chief executive and a Perth-based managing director since June, when a long-running squabble with its biggest shareholder, Kalahari Minerals, cost Peter McIntyre the top job. Extract is understood to have tapped someone for the Namibian role — an appointment is expected as early as this week. The question of who will take on the Perth-based role remains unanswered, a month after Mr McIntyre officially stepped down and nearly four months since he flagged his intention to do so. The task facing incoming management is not an easy one. Extract has become something of a market darling over the past year, since Rio Tinto swooped to pick up a cornerstone stake. The subsequent corporate wrangling may have overshadowed the group’s success in Namibia but its flagship Rossing South deposit is widely regarded as one of the best uranium deposits in the world. Those credentials were reinforced on Friday when the company said it had discovered a zone of mineralisation on the project’s western limb (previous mineralisation discovered at zones one and two is predominantly on the eastern limb of Rossing South). Extract is talking about a 500 m

I have been told today from a very reliable source that PRA have been in talks with Leisure Projects for just over 2 weeks now, which fits with an article I read yesterday by one of the directors I think it was that said they were still looking to make further acquisitions. There is a degree of concern amongst some pi's as to where there funds are going to be coming from, and so if more deals are being done wheather that is good news or not is unclear really.

EXT up 5%, did hit Aus$10.2 at on e stage

Sorry I meant Buys. To clarify , it seems there are some good deals being done and the new sites will benefit from being run by PRA, and this I feel will give the stock some impetus, but due to the seasonal nature of this business ; apart from Cashino on-line ; and the fact we are at the end of a season and not the start, I don't personally see this momentum that it has at the moment being retained and so I will sell at certain levels but not hesitate to buy back in again on dips. But that's just my strategy on this one and I wouldn't encourage anyone else to pay hedence to it. GL

I in all honestly could not give you any significant info on WMH, they do operate AGC type machines but form what I understand they derive most of there machine based income from FOBT, a category of machine not permitted under the terms of an AGC liscence. Just to clarify my position further from my quite harsh but entirely honest synopsis of the AGC & FEC trade at the present time, I will declare that I have bought in as of Friday afternoon. This was after speaking to some of my industry customers and assosciates of Nick Harding, who informed me that the amusement estate that was purchased in the S.West & S.Wales was from Case Concepts, or Harry Case to those that know him in the industry. These were quite tired and weary sites IMHO that will definatly benefit from the Harding upgrades and new approach. The Crystal Rooms is already seeing a change in its fortunes, and many of the large sales going through on Friday were from others in the industry who belive in the Praesepe project. They are definatly picking up a lot of sites and at very good prices compared to what these sites would have commanded just 3 years ago, during better times for the industry. While I do now hold I will look to profit from these short term as the FEC season is pretty much finished now untill Easter and the AGC's even with better managing and promoting will not gain exponentialy as in hard times peoples leisure spend is always the first thing that gets cut

http://www.zoominfo.com/people/Harding_Nick_101201004.aspx

Does anyone know where the FEC and AGC sites are that were recently purchased , if so I can speak with the former owners for some background information on trading during the last 12 months.

I have just been tipped to look at this co. from another bb poster and so have just skipped over the co. web site. Much to my surprise I found that the co. is an amusement operator, both FEC and AGC. My own co. is a wholesale supply co. to the amusement and leisure industry, mainly FEC,, and I deal with operators of FEC's, AGC's and many that operate both. Since the abolishion of section 16 machines , the introduction of AGC's with there strict guidlines on Category C machines of only 4 per registered/liscensed premises this formerly very lucrative area of the industry has been decimated as a revenue stream, so much so that many operators are foregoing there liscences , which I belive are appx £2000 per machine in situ. Moreover in this recesion the high-rollers who would regularly visit and drop a grand or two have evaporated. That said I noted one of the directors who purchased shares was a certain Nick Harding who is just about the top man in our industry and I belive has conducted most of the talks with the govt. and gaming commision with regards the new machine categorisation and liscensing. The on line gaming is deffinately profitable if you can get customers to your site although this field is becoming quite saturated. However if Nick Harding is confident I will keep a close eye on these and possibly approach him at the ATEI or speak with some of his assosciates . GL

It would seem that there is still massive potential over the Usab liscence for EXT. They not only have the original discovery of Zone 1 but also the Zone 2 producing consistently very high grade mineralisation. The area between the two zones "the sadle" is highly likely to return exceptional results when the two zones are joined at depth.So far they have only carried out drilling on 6km of the zone 1 & 2 fault line, meaning there is still 60% of this zone with huge potential to increase this zones spectacular resources further, especially as it is open at strike length and depth.There is Ida Dome with an already indicated resource which EXT say will be increased by further drilling with other targets in the same area. There is the recently discovered Zone 3 to the south producing very high grades which we will at some stage get an inferred reource from, there is the other recently discovered Salem area, again with superb results from the initial drilling program....AND now we have a western branch; new Zone 4 that has returned some amazingly high grades for an initial drill, the results we are told from the rns today is probably only 65% of its true thickness. With the feasability study due for completion by mid 2010 predators were expected to circle and wait ultimatly for the results of the feasability study, however with these results and upgrades in both grade and quantity coming thick and fast , and new discoveris still being made that looks less likely by t

http://www.asx.com.au/asxpdf/20091009/pdf/31l7hszgq9pyfm.pdf

Extract up 5%

http://www.extractresources.com/DesktopModules/Bring2mind/DMX/Download.aspx?EntryId=3412&PortalId=13&DownloadMethod=attachment

Stephen and Jennifer Dattels ( 'er in doors ) purchased 43,070 and 17,168 shares in EXT personally on 02-10-09 Dattels is on EXT board and in charge at PRL who also have a circa 10% holding in EXT. Strong sign of confidence IMHO

"Kalahari notes that, at the closing price of 6.25 pence per share on the 2 October 2009, the 266,666,667 shares in North River were valued at GBP16.67 million. "

The article from growthinvestor in my opinion gave a very poorly researched view and just re-cycled numbers and info that had long since been released. The article dated 01-10-09 which gave the reduce recommendation gave no resoning behind this view and was so poorly researched that the contributor gave the assets of KAH as shareholding in EXT plus Dordabis & Witvel. Absolutely no mention whatsoever of West African Gold Exploration or Crafton subsiduaries that were to be sold to North River just 4 days later for circa 16.6 million. This to me just demonstrates why it is always essential to DYOR and plenty of it

The following is a link to an article that is now a month old but I thought some may not have seen it yet like myself .http://www.proactiveinvestors.com.au/companies/news/2420/is-extract-resources-paladin-energy-20-2420.html . WH Ireland give EXT an after tax net present value of A$ 9.43 (£4.96) a share . Which by my reckoning gives KAH +40% holding in EXT a share value of £2.98 . This is just based on current resource releases and not indicative of future upgrades to grade quality and quantity.

I think that the problem that KAH had was that they had these other prospects which were always going to take a backseat to there main focus of attention, that being South Rossing. The ideal solution has been to bring in a hungry young mining junior who can now progress these projects with KAH's expert guidance and backing, and whatsmore KAH also gain exposure to some really quite promising projects that NRRP have brought in with them. Furthermore the affiliation brings with it strength of NRRP's knowledge and KAH's experiance and financial power to bid for further exciting projects already identified. IMHO Mark Hohen has played a blinder with EXT and has now demonstrated his great business acumen in garnering this deal which should provide future interest once EXT is finally bought , probably next Aug once the full study results and resource quantity is proven.