Proactiveinvestors recommends
Additional Information
Market: AIM
Sector: General Mining - Uranium & Lithium
EPIC: KAH
Latest Price: 0.00p  (0,00%)
52-week High: 258.00p
52-week Low: 186.75p
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Kalahari Minerals
www.kalahari-minerals.com

Kalahari Minerals plc is an AIM and NSX listed resource company with uranium, gold, copper and other base metal interests in Namibia. The Company’s key value drivers are its holding of approximately 40% in ASX, TSX and NSX listed Extract Resources Limited and its circa 45% interest in AIM listed North River Resources plc.

Full Kalahari Minerals profile here
Is KAH a Buy, Sell or Hold?Get your FREE analysis of KAH
Pdf

Chinese nuclear power giant tables "conditional" £756 million bid for Kalahari

7th Mar 2011, 6:42 pm An entrance to the Namib mine at the centre of this bid

 

Kalahari Minerals (LON:KAH) said this evening it will back a £756 million conditional takeover bid by a subsidiary of China Guangdong Nuclear Power once the offer is formally lodged.

The 290 pence a share offer by CGNPC-URC was revealed just hours after Kalahari confirmed it was in talks with an unnamed third party.

The deal will go ahead only once the Chinese have received regulatory clearance in People’s Republic and Australia and has secured the necessary financing.

However, matters are complicated slightly by the involvement of industry super-major Rio Tinto (LON:RIO)  as Kalahari shareholder.

It has an 11.5 per cent stake in Kalahari and is also in talks with Extract Resources to merge its Rössing Uranium Mine in Namibia with the Husub Project owned Extract Resources. Kalahari owns 43 per cent of Extract. 

All off which has led to fevered speculation about a potential bidding war between Rio and the Chinese.

However the Kalahari board said once a formal offer is lodged then it will recommend the takeover.  

CGNPC's managing director Zhiping Yu added: “We are delighted to have secured the support of the Kalahari board, as we believe this highlights both the attractive value of the possible offer and CGNPC-URC's status as an excellent partner for the future development of the Husab Uranium Project.”

The bid terms represent an 11.6 per cent premium to the Kalahari share price last Friday and 38 per cent premium to the average price over the last six months. 

The putative bidder has received irrevocable undertakings to back the deal from investors representing 7.3 per cent of the shares.

Kalahari’s executive chairman Mark Hohnen said: “The Kalahari board has considered the possible offer from CGNPC-URC carefully in the context of other opportunities available to Kalahari and the Kalahari board believes this represents attractive value for Kalahari shareholders.  

“If made, the possible offer would enable Kalahari shareholders to crystallise this value now, in cash.  

“CGNPC-URC's core business activities are centred on the management and supply of nuclear fuels for its parent, CGNPC, establishing interests in and supporting the development of commercial resources and reserves of natural uranium.  

“The Kalahari board believes this pre-eminent position in the uranium sector makes CGNPC-URC a suitable partner for the realisation of the full potential of the Husab Uranium Project to the benefit of all stakeholders.”


 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.