Extract Resources looking for partners at world-class Rossing South
17 November 2009
Extract Resources, the Australian listed company behind the potentially massive uranium discovery at Rossing South in Namibia, is on the look-out for partners to help it develop the project.
In a market update, the company said it was working with corporate advisors from Rothschild to review its options and that a number of potential development pathways had already been identified.
At this stage no decision has been made on the preferred development plan for the project, but it is understood that it could involve Extract going it alone.
The company has invited interested parties to submit proposals for their potential partnership in the development of Rossing South, including outlining the basis of their interest and how they can assist with bringing the project into production in the most timely and efficient manner.
Due to the size and quality of the Rossing South deposit, which is part of the world class Husab Uranium project, Extract said it had received extensive interest from a number of parties.
In the meantime, Extract is continuing to progress the Rossing South Feasibility Study, which is due for completion by mid-2010, as well as delineating the significant new zones of mineralisation that continue to be discovered.
AIM listed Kalahari Minerals, which owns a 40.43% interest in Extract, welcomed it commitment to speeding up development at Rossing South, but warned that it would assess any proposal to ensure it was beneficial to all stakeholders.
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