Extract Resources - Response to press speculation
SOUTH PERTH, Australia, Nov. 29, 2011 /CNW/ - Further to recent media speculation, Extract Resources Ltd
('Extract') confirms that it is aware that discussions have taken place between CGNPC Uranium Resources Co. Ltd. ('CGNPC-URC') and Epangelo Mining Company (Pty) Ltd ('Epangelo'), a wholly state owned Namibian enterprise, in relation to a possible acquisition by Epangelo of a 10% interest in the Husab Uranium Project. However, Extract notes that any agreement between CGNPC-URC and Epangelo would need to be conditional on CGNPC-URC having acquired a controlling interest in Extract's 100%-owned Husab Project.Separately, discussions between Extract and Epangelo are well advanced around the possible acquisition on commercial terms by Epangelo of a 10% interest in the Husab Project, irrespective of whether or not any transaction involving CGNPC-URC occurs.
About Extract Resources
Extract Resources Ltd is an international uranium exploration and development company whose primary focus is in Namibia. The company's principal asset is its 100% owned Husab Uranium Project which contains the fourth-largest uranium-only deposit in the world. Extensive exploration potential also exists for new uranium discoveries in the region. Extract Resources is listed on the Australian (ASX), Toronto (TSX) and Namibian (NSX) Stock Exchanges.
Extract Resources
CONTACT: please visit www.extractresources.comor contact:
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|Extract Resources: London Office |Tel: 44 (0)20 7317 9220 |
|Jonathan Leslie, CEO | |
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|Extract Resources: Perth Office |Tel: 61 (0)8 9367 2111 |
|Siobhan Lancaster, Company |slancaster@extractresources.com|
|Secretary/Corporate Affairs | |
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|Extract Resources: Namibia |Tel: 27 (83) 2646188 |
|Tom Ferreira |tom@swakopuranium.com.na |
| |Tel: 264 (0) 61 300 220 |
|Nomvula Kambinda |nomvulak@swakopuranium.com.na |
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|Australian Media Enquiries: |Tel: 61 (0)2 8999 1010 |
|MAGNUS Investor Relations/Corporate|Mob: 61 (0)413 355 997 |
|Communication (Australia) |Mob: 61 (0) 413 439 883 |
|John Gardner and Dudley White | |
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|UK Media Enquiries: |Tel: 44 (0)20 7404 5959 |
|Brunswick Group (UK) | |
|Carole Cable / Pip Green | |
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