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Kalahari conditionally raises GBP14.4m through placement


Edited Press Release
LONDON (Dow Jones)--Kalahari Minerals said Thursday that it has conditionally raised GBP14.4 million (before expenses) by way of a placing of 46,080,000 new Ordinary Shares at a price of 31.25 pence per new Ordinary Share.

 
Visit Extract Resources

Kalahari Minerals' subsidiary company, Kalahari Uranium Ltd, holds 39.11% of  Extract Resources - an ASX listed company with significant uranium projects in Namibia
 
Kalahari Minerals

Kalahari Minerals plc (KAH) is an AIM-quoted exploration company with an advanced portfolio of copper and base metal prospects in Namibia.

 

These projects are at various levels of development from reserve definition projects to green field exploration, covering the majority of the known, but un-mined, Namibian portion of the Kalahari Copper Belt.

 

The Company is currently undertaking a development and exploration programme aimed at identifying the feasibility of commencing one or more mining operations based on oxide and/or sulphide copper resources.

 

Kalahari Minerals' wholly owned subsidiary in Namibia is West Africa Gold Exploration (Namibia) (Pty) Ltd ('WAGE').

 

Kalahari also holds 39.11% of ASX listed Extract Resources Ltd (ASX:EXT) which has several well developed uranium projects in Namibia and has an advanced drilling programme. For further information on these visit:- www.extractresources.com

 

On 5th September 2008 Kalahari announced the proposed merger of Kalahari and Extract with the Enlarged Company to be dual listed on AIM and the ASX.   An AIM Admission Document setting out the full details of the Enlarged Company is expected to be published by the end of October 2008.
            Copyright 2007 Kalahari Minerals