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Market: ASX TSX
Sector: General Mining
EPIC: EXT
Latest Price: 0.00  (0,00%)
52-week High: 8.86
52-week Low: 0.00
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Extract Resources
www.extractresources.com
Extract Resources primary business focus is in the African nation of Namibia, in which it has a large land position of 2653km2 over several licenses. While the projects have various mineral occurrences, Extract's main objective is based around the potential of the uranium (U3O8) rich provinces in Namibia, particularly within the alaskite belt that hosts the world class Rossing Mine.

Extract's aim is to explore, evaluate, develop and produce U3O8 from its advanced projects, as a source of fuel conversion for low-cost, environmentally friendly nuclear power. In doing so, Extract maintains a policy of quality environmental management and social and corporate responsibility in meeting its business objectives.
Full Extract Resources profile here
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Kalahari Minerals: Extract Resources drilled 72,172 metres at Rössing South in Q4

12th Jan 2011, 2:00 pm
Kalahari Minerals: Extract Resources drilled 72,172 metres at Rössing South in Q4

Kalahari Minerals (LON:KAH) relayed a quarterly report from its 41.12 percent owned associate Extract Resources (TSX:EXT, ASX:EXT).

Extract is developing one of the world’s largest uranium deposits - known as Rössing South - at the Husab project in Namibia, where it is currently running a massive 17 rig drilling programme.

It drilled 72,172 metres in the three months ended 31 December 2010. This took the overall running total to over 570,000 metres. At the moment Extract is focused on ‘Priority 1’ infill drilling at Rössing South’s Zone 1.

It received outstanding chemical assay results in the quarter, which continued to demonstrate the deposit’s high grade uranium mineralisation. It also lodged important permitting documents - an Environmental Impact Assessment and Management Plan - with the Ministry of Environment and Tourism.

Kalahari also stepped up its interest in its associate, as it helped raise new capital for Extract, with a new AU$60.9 million share subscription. Extract ended the period with a A$35.3 million cash balance.

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