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Khan Resources Incorporated Update

Khan Chart 04 Dec 09.JPG

As we can see from the above chart an all cash offer of $0.65 per share could spell the end for Khan Resources Limited (KRI) as Russia increases the pressure to gain total control of this asset.

This snippet from Uranium News more or less sums up the situation as it stands:

Khan Resources has been embroiled in a dispute with ARMZ over who controls the exploration license for the deposit, which was formerly a Russian open-pit uranium mine, and now that dispute has turned into a hostile takeover with ARMZ making an all-cash offer valued at C$35.1 million or 65 cents per share.

ARMZ is the world’s fifth-largest uranium producer and a subsidiary of the Russian state-owned nuclear energy corporation, Rosatom. In August of this year, Russia signed a joint-venture agreement with Mongolia on the Dornod uranium deposit. This surprisingly bad news for Khan came after the Mongolian government enacted a new nuclear law giving more control of uranium reserves to the state.

In 2003, Russia forgave close to all of Mongolia’s outstanding Soviet-era debts. Moscow subsidizes the oil and wheat imports and earlier this year made a $300 million loan to Mongolia’s failing agricultural industry.

To read the article in full please click here.

We have fallen foul of geo-political circumstances on this one, something to consider when making future purchases, a great resource, behind a border we can do little about.

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Reader Comments (2)

.....\"the nuclear power sector that is currently coming back to life?\" You\'re kidding, right? Who says so, and how did you arrive at that conclusion?

And no, Uranium company XYZ, formerly trading at $4.50 a share, now down to 30 cents-a-share, skyrocketing to 32 cents-a-share in a single day (woo hoo!) is hardly proof of some sort of a comeback.

Though virtually all of your \"calls\" have been sh*t, I have to admit, I do like your sense of humor........

December 4, 2009 | Unregistered CommenterJoeBronx

Glad to have you back Joe we thought that you had taken up knitting.

December 4, 2009 | Unregistered CommenterUranium Stocks

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