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« Extract Resources Limited Potentially World Class | Main | Is Natural Gas Cheap? »
Sunday
Jul262009

Extract Resources Limited: 300 M lbs by the end of the year

Extract chart 26 July 2009.JPG



Chart courtesy of StockCharts.com


As we can see from the above chart Extract Resources Limited (EXT) just continues to climb higher with rate of climb accelerating recently on the back of terrific news releases such as the one below which came out on 25th July 2009 by the CNW group with the this headline:


102 M.tonnes @ 543 ppm for 122 M.lbs U(3)O(8)


Other Highlights:

- Combined Husab Inferred Resource = 268 M.lbs, plus
Indicated Resource = 24 M.lbs U3O8

- Combined Zone 1 & 2 Inferred Resource = 243 M.lbs, plus
Indicated Resource = 24 M.lbs U3O8

- 84% increase on Rossing South global Resource

- Rossing South ranked in top 10 of global uranium deposits

- Zone 1 and Zone 2 mineralisation still open along-strike and down-dip
Extract's Managing Director, Peter McIntyre said that Rossing South continues to deliver on the upside, and has well exceeded the original targets established. The project has grown rapidly from the original discovery announcement in January 2008.

"That we now have combined resources for Rossing South of 267 M.lbs or
121,000 tonnes of U(3)O(8) at such good grade is a measure of the world-class quality of the deposit," Mr. McIntyre said. He added that Zones 1 and 2 would
continue to grow as they remain open in multiple directions. "The fact that we
have delivered this after only 18 months of resource drilling gives us
confidence that 300 M.lbs by the end of the year is now within our sights."


If you have the time it well worth a few minutes to read this article in full, just click this link.

Below are a few excerpts from an excellent presentation on Extracts web site which depicts where they are and what they discovered so far which puts this find into perspective.




Global League Table 26 July 2009.JPG
Global League Table




Politics: President Pohamba took over from independence fighter Sam Nujoma, who led the ruling SWAPO party until 2007. The opposition has only minor representation in parliament. In terms of the economy the Main trading partner is South Africa. Source BBC.

Extract Location 26 July 2009.JPG
Global Political and Economical Risk Map

















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Reader Comments (1)

For those with access to the UK markets it's worth noting that Kalahari Minerals (KAH) has an approximately 40% stake in Extract.

July 28, 2009 | Unregistered Commenterbob

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