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Looks like QTI are just about done. Dissolving themselves out of exisistance !!! Chalk this one down to experiance and move on unfortunatly

Anyone have any thoughs on how the collapse of the Rio/Chinalco deal and subsequent Rio/BHP JV with RIO rights issue will impact here ??? Will Chinalco now bear down on Rossing South in order to secure more supply for Chinas huge program of building nuclear power stations, or will RIO now be on the front foot to make a bid for the whole project once its debt is written down massively by the rights issue and the 5.7 billion it's trousering from the BHP JV.........any thoughts anyone

http://www.asx.com.au/asxpdf/20090603/pdf/31hx88v3n8j5s8.pdf .Seems like Extract board are in a more consiliatory mind frame than last week and are more akin to pushing the project forward at pace now.

Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of uranium, copper and base metal interests in Namibia, was notified on 3 June 2009 that Prudential plc increased its holding in the Company on 2 June 2009 to 10,700,000 ordinary shares, representing 5.43% of Kalahari's issued share capital.

Kalahari Minerals plc was also notified as of 15 May 2009 that Regent Pacific Group Limited acquired 4,000,000 ordinary shares in the Company, raising its total interest in Kalahari to 7,032,898 ordinary shares representing 3.57% of its total voting rights.

http://www.brr.com.au/event/57862/partner/theaustralian . This is a must view update from Extract

I think Dettels is playing a blinder IMHO, he seems to be taking full advantage of the present weakness in RIO's position; they are struggling with their own balance sheet and regardless of how highly they clearly value the South Rossing and Ida Dome assets, which is clearly demonstrated in their stakes in Extract and KAH, they have not the funds or courage to take out the afore mentioned companies at this early stage and grab the assets; Dettels has read this and taken stakes in all concerned parties and built his position of strength really quite quickly and to the point now of quite some power. He has now layed his hand on the table and demanded a place on the Extract board which will give him more power to either flush out a bidder or close shop and press hard and fast for early mining production. One thing is for sure he knows what he's doing , knows the future value of these assets and has the past experiance to make this work.

Thanks for the link. Things now look as though they could be about to accelerate

taken from KAH website 26 May 2009 (analyst report) Polo Resources has announced that it is in the process of requesting an EGM for Extract Resources (in which Kalahari Minerals has a 38.8% stake) to appoint Stephen Dattels as a director of Extract. Polo has a 9.1% interest in Extract, and Mr Dattels has a 0.9% interest in Extract. Dattels commented that Polo is committed to the development of Rossing South as a standalone operation, citing work performed by Polo’s technical adviser that indicates production is feasible as early as 4Q11 using a heap-leach operation. This is another strategic move by one of the four holders of the Rossing South asset (Rio, Extract, Kalahari and Dattels). Production by 4Q11 seems optimistic to us, but the intent is clear, shedding more light on the potential value of the asset. While this is superficially based on Polo’s desire to take the asset into production, it may also be designed to force Rio’s hand and achieve the best takeover price possible.

Flurry of good sized Buys in the last 10 mins !!!

Just spotted this director dealing for today ....22-May-09 - BUY - Chris Surch 98.00p - 50,000 - £49,000.00 total. Looks like one confident director

I've bought up more again this morning as the offer closes on the 05 June, which as I read it everyone on the register as of the close date is entitled to the 2 for 3 offer. Whats more like you say this week SKS management have shown themselves in a very good light IMHO, selling there share in the scottish project and trousering £27.5 million which they have said will be used to pay down debt and raising £71.4 million through a fully covered rights issue now after just posting good results showing £48.5 million pre tax profit on revenue up 24% is great timing. I'll personally be holding for the longer term as they're trading on just 6 times earnings and although there will be dilution of holdings with this placing the whole buisness , especially on the continent remains strong

The waste management group Shanks surprised the market yesterday, announcing a two-for-three £71.4m rights issue, which it says will be used to cut its debt pile and strengthen its balance sheet. The shares, which trade at six times earnings, still have a way to go despite the impressive rises over the last quarter. Buy says the Independent. The longer-term attraction is increasingly punitive measures on both sides of the Channel to divert waste away from landfill towards recycling and waste-to-energy schemes – niches in which Shanks, whether through Orgaworld, its composting business, or a UK joint venture with Wheelabrator, of the US, has a head start. Hold on adds the Times.

Shanks which operates in the Netherlands, Belgium, Britain and Canada, posted an underlying pretax profit of 48.5 million pounds on revenues 24 percent higher at 697 million pounds for the year to the end of March, due to strong performances from its Dutch and Belgium waste businesses and cost cutting actions in the UK

Goldman Sachs added Shanks to its conviction buy list and lifted its target price to 211 pence from 143 pence.

- In response to a question from Laurie Kennedy* of Rio, Mark Hohnen confirmed that, “as a gesture of goodwill towards Rio”, Kalahari had agreed that it did not intend to increase its stake in Extract beyond 40% - In response to another question from Rio, it was confirmed that David de Jongh Weill was representing Niger Uranium on Kalahari’s Board. In a chat with David after the meeting, he confirmed that whilst he has known Stephen Dattels for 7 years, his introduction to SD was through Mike Beck, who he knows much better. He also confirmed that Chiliogon has been acting in a corporate finance capacity on behalf of Niger (but not Kalahari). - In the post-meeting chat, it was mentioned that Rossing South looked bigger & better than Rossing (4th largest U mine globally). LK did not disagree. - I chatted briefly with LK who spoke about the current volatility of the U market. There was a big grin on his face when I pointed out that whatever the U price was, Rossing South would be one of the world’s most profitable U mines, due to its low cost.

This has to be one of the most productive AGMs I’ve attended. If it weren’t for the fact that Rio Tinto sent one of their staff and that Stephen Dattels attended in person, one might take some of the statements made with a pinch of salt. Kalahari has now released their official AGM statement: http://fool.uk-wire.com/cgi-bin/articles/200905121302371099S.html . I’ll not mess about and just highlight the key bullet points. - In conversation with Glynn Tonge after the meeting, he believes that it now looks highly likely that Rossing South Zones 1 and 2 link up. He has just returned from a semi-annual visit to operations in Namibia. Intensive drilling is currently underway between the zones. - He also said that the exploration rig was currently working around the Salem area – but that Extract would not reveal results, even to him. He said that results of the explo drilling will be announced in August. [I am surprised that they would hold back any significant discovery]. - The helimag survey will start next week and should take 2-3 weeks - Mark Hohnen stated in the formal meeting that he is now confident that the total zone 1 and zone 2 resource will be 500Mlb+ - yup, that isn’t a typo :0))) (though obviously not by the time of the August zone 2 maiden resource declaration) - In response to a question from Laurie Kennedy* of Rio, Mark Hohnen confirmed that, “as a gesture of goodwill towards Rio”, Kalahari had agreed that it d

Moneyweek article 15 may 2009. "The upshot is that global mine production will only meet about 73% of demand this year, according to UX Consulting. In recent years that shortfall has been made up by sourcing recycled uranium from old Soviet warheads, but that programme is set to end in 2013. Meanwhile, 44 reactors are still under construction with another 110 at the planning stage. "It's conceivable that the uranium industry many need to expand annual mine production by more than 50% over the next decade in order to meet the demand from new reactors," says Salida Capital. So the big uranium players have been buying up uranium miners. Indeed, RBC Capital Markets is predicting a wave of consolidation in the sector over the next 12 months. Cameco, which produces about 18% of the world's supply, has just earmarked $2bn for a shopping spree. Japanese and Korean utilities firms have been snapping up uranium miners since 2007.

The shares recently sold to institutions during the share issue were issued to the market today. 17.89 million new shares in circulation and the sp even managed a slight rise on a weak day, that's pretty reasuring, in that it would suggest the institutions are confident in KAH for long term returns and not just short term gains. IMHO

As usual it would seem all new issued shares were offered to institutions, and readilly gobbled up. At least we can gain comfort from the fact the offer was oversubscribed , showing that the institutions have great faith in Kalahari. Kalahari Minerals, a mining exploration group with a portfolio of uranium, copper and base metal interests in Namibia, Friday announces it has conditionally raised GBP17.89 million (before expenses) by way of a placing by Ambrian Partners Limited and Mirabaud Securities plc of 17,890,000 new ordinary shares of 1 pence each in the capital of the Company, with new and existing shareholders at a price of 100 pence per Placing Share. Kalahari Chairman Mark Hohnen said, "The aggressive exploration programme underway at Husab continues to churn out excellent results, particularly at the Rossing South target, which we believe has the potential to become one of the largest uranium deposits in the world. With this in mind, our shareholders expressed an interest in maintaining Kalahari's position in Extract to support its growth, so we were delighted to raise this money, which will enable us to do just that. We were also pleased to attract new institutions, which have also recognised the opportunity to become involved in such an exciting project and support the Placing, which was considerably oversubscribed."