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The current sp is based on Rossing South,with an initial resource estimate of 108 M lbs of U3O8 was announced in January 2009 for Zone 1, whilst at Ida Dome, a 25.1 M lbs of U3O8 has been defined, effectively giving Extract a total resource of 133.1 M lbs. We are now told to expect a defined resource that could reach 500 million lbs U308 when the next resource statement is released July/August time. It has been said that given the recent Forsys and UraMin deals that fair value based on these for Kalahari would be circa 300p a share based on 133.1 million lbs U308. Therefore one could rightly assume without making too drastic an assumption that fair value could easily reach 1100 to 1200p a share come August. Any thoughts welcome anyone .

Kalahari Chairman Mark Hohnen said, "Extract's Husab uranium project, in particular the Rossing South prospect, continues to yield good results, underpinning what is considered to be the world class nature of the asset. Seven drill rigs are operating on site and a resource statement is expected in the next few months from Zone 2 at Rossing South, which we anticipate may be at the higher end of estimates. This resource statement will contribute towards Extract's total uranium portfolio within the Husab project, which we anticipate could reach 500 million lb of U3O8, once its Namibian land position has been developed and in particular, the Rossing South Zones 1 & 2 and Ida Dome have been fully defined. Importantly, the grades continue to be high and recent results reconfirm that Rossing South is the highest grade granite hosted uranium deposit in Namibia.

"We have been particularly successful in the first four months of 2009 in securing 15 new framework agreements totalling some GBP350m in future revenues, up from GBP240m for the comparable period in 2008. Our total forward revenue visibility under secured orders and long term framework agreements now stands at GBP2.7bn, up from GBP2.3bn a year ago. Secured and visible revenues for the current year are now in excess of 90% of consensus forecast revenue and in excess of 75% for 2010. "The Group is operating comfortably within its bank facilities which are not due for renewal until 2012 and has significant covenant headroom going forward.

It may have slipped your notice but KAH are not presently mining UR08 and so have none to sell in the current market and so therefore are unafected by todays UR08 prices

ROK senior management are really working hard and excelling themselves after last years little blip. There are always winners in recessions and it would seem that ROK are certainly positioning themselves to be one of the major ones once we come out the other side of this one.

Mr. Dattels, Executive Chairman, said: "Polo has made a strategic decision to refocus its human and financial resources in the uranium sector. Polo's previously announced agreement with Berkeley Resources Ltd. was the initial step in the Company's programme of acquisitions. The investment in Extract, the owner of the Rossing South uranium deposit in Namibia, is a further major commitment of Polo's financial resources in what the Directors believe could be the largest uranium discovery in the world.

There have been some very large and interesting deals going through today, including a buy of 1/2 million in one transaction. Trade volumes are certainly increasing by the day and KAH is showing up large on many screens now

Recovering well

Demand for uranium is driven by the needs of the nuclear power industry worldwide, and by the demand for electricity by industry and consumers. The industrialisation of nations such as China and India, combined with a revisiting of long term energy strategies by countries, to take account of many issues including global warming, all over the globe has resulted in a resurgence in the importance of nuclear power. As new power stations are planned and built, and older ones are relicenced and refurbished, demand for uranium has the potential to outstrip supply by the end of the decade. In this economic environment, uranium mining is growing in equal importance.

Don't forget that Kalahari has purchased 1,856,410 options in Extract at an exercise price of AU$1 per option ('Options'), with an expiration date of 28 March 2009. The exercise of these Options will inject AUD$1.8 million additional working capital into Extract. On exercise of the Options, Kalahari will have a total interest of 86,377,395 ordinary shares in Extract. So as of Monday Kalahari will own appx 42% of Extract , and with todays upgraded test results and the rise in sp. the options taken out in early Feb was a master stroke !!

We're all in here because this is an extremely well run company with incomprehensible potential that is already giving great gains, as endorsed yesterday by Rio's increased holding in Extract and the broker note from Ambrian which suggested a fair value for Extract of far in excess of $1 billion to put it on a par with it's peers. Current market cap. is a mere £170 million for KAH. With KAH holding 40% of Extract and also controlling the board room the current value for KAH sholud be more like £500 million at least. That would make a re-rating of the sp to around the £3 mark and hopefully with updates on Rossing South due next month and more upgraded resources expected this should propel the sp forwards, making us all that bit richer. Good Luck and have a nice weekend !

These boards are best used for sharing information , facts , figures , news and fundamental statistics . When posters start proclaiming that a chart states that a share will half in value ignoring all the afore mentioned points, some investors may become panicked and sell long before they ideally would intend too, this may potentialy cause them serious losses. Most boards work well as a marketplace of shared knowledge, but when posters insist that they know the exact high points and the future low points this verges on clairvoyance and diminishes the relevance of these fact based information sharing boards.

Your irrelevance is off the chart.....LOL

Unbeliveable !!! those dynamic strategists at Rio should have read some of the " Chart experts " on here to find out how foolish they are buying at these levels, if only they'd have read some of the notes on here thy'd have realised there's a 50% retrace....long overdue.....and getting longer by the day........LOL.... Those fools at Rio must be looking at things like fundamentals and mining reports instead !!!

Just a little exert from your post yesterday ..." with the next big support way down @ 55p " . Still I'm sure you can adjust your chartism to accomadate this rise today.

A new office junior and cleaning operative announced leading to todays rise !!! apparently Mrs Jones at number 34 said she might think about installing a Leakfrog if she can arrange financing with her local moneylender.....LOL

Another twist in the game of pass the rudder..............no wonder the sp sucks and everyone has walked away

Just one more piece of encouragement that I've just come across, on Feb 23rd Goldman Sachs changed there rating from Neutral to BUY on Shanks

I think that Shanks will follow the market now for say the next year untill there is either positive news or demand returns for waste product materials, untill such news Shanks will mark time with the general FTSE stocks, which isn't such a bad thing as the market shouldn't drop much below where it is today/tomorrow and is probably destined to finish the year at around the 4500 mark. That's 25% above where it is today. So if Shanks follows suit as expected then they will reach about 67 IMHO But I personally feel they could recover to a point above this to perhaps around the 85 mark if sentiment returns favour

Having been in and out of these shares 3 times and being fortunate enough to have profited each time , I am aware that you are both longer term investors. I am very pleased to see that the sp has picked up and is moving in the right direction at long last for you both. I won't be getting back in but good luck to you and long may the rise continue !