Uranium Resources took a giant leap of faith in proving the existence of uranium roll front deposits in Tanzania’s Luwega Basin. Here managing director Alex Gostevskikh takes us through the process and tells us what lies in store as it develops the project. 

The global economy is only in the early stages of the current super cycle and elevated commodity prices are likely to remain as developing nations industrialise, new research suggests. 

Forte's A238 prospect in Mauritania has an initial JORC inferred resource of 14.9 million pounds, while in Guinea it has 11.6 million pounds. A recently launched drilling campaign over the next nine months will aim to double those reserves and be the key for the next nine months.

Rio Tinto's US$578 million offer for Hathor trumped a rival offer from Cameco and has thrown the spotlight on other uranium stocks.

Kalahari Minerals said this morning it is focused on “achieving value for all stakeholders” as preparations continue to bring the world class Husab uranium project into production.

The faint stirrings of interest in the uranium sector are starting to be detected in the wake of the Japanese earthquake and tsunami, which set the scene for the worst atomic disaster since Chernobyl.

Now that three months have elapsed since China’s CGNPC-URC was prevented from making a 270 pence per share offer for the firm, Ambrian believes that its bid for Kalahari could soon re-emerge.

Kalahari Minerals confirmed that the Husab project in Namibia is the fourth largest uranium deposit in the world after revealing the results of Extract Resources's drilling which significantly upped the total resource.

So what's next for Kalahari now that CGNPC-URC has withdrawn its offer for the company? Analysts reckon the Chinese may return for fresh takeover talks in the coming months, and they might have  to up the ante if Rio Tinto make a move in the meantime.

As a handful of brave workers battle to regain control the Fukushima nuclear, the market has taken its own pre-emptive action by marking down uranium stocks. The reaction raises questions over the long-term future of nuclear power - as does the actions of China, Germany, Switzerland, Italy and Poland.

Shares in Kalahari Minerals have crept above 300 pence with investors betting the company may have more than one suitor. Rio Tinto would appear to be the obvious counter-bidder with an 11.5 per cent stake, however it is far from certain a second deal will materialise.

There has been fevered bid speculation about the identity of the would-be buyer of Kalahari. After hours, it was revealed to be Chinese firm CGNPC-URC, which will table a £756 million deal once it has received all the neccessary regulatory clearances.

A lot has happened since we first heard about the Rossing South uranium deposit back in 2007 when Extract Resources began drilling a previously untested part of the Husab uranium prospect. In the years that followed the early stage prospect quickly became one of the world’s most important uranium deposits. With 17 rigs going to work, the project hasn’t looked like its going to plateau just yet. However talks recently begun with Rio Tinto, and the Husab story looks like it may be nearing a crossroads in its development.

Forte Energy could become one of few Rare Earth plays in London, after it found the vital metal elements whilst analysing its uranium assays from the Firawa project in Guinea. With the high-profile supply squeeze showing no signs of abating, the potential discovery may provide a new dimension for the AIM-listed junior.

What is significant with an eye to the future, is the initial resource covers only 5% of the Storsjön Project ranking it, and Aura already being in the top ten uranium resources league.

The potential for Rössing South is becoming so large, Hohnen hinted that not only is Kalahari confident they can secure project development finance, they are even considering the possibility of two mines

It isn’t just the sheer size of the project that impresses, but the grades being reported of late have been well in excess of the typical grades found in Namibia

The company reported on its activities in the December 2009 quarter, which were focused on exploration at its permits at Bir En Nar and near Bir Moghrein in the Zednes region of northern Mauritania.

Financially Forte are in a stable position going forward having completed a A$12m capital raising; the company has stated that this will be sufficient capital to support all the drilling and follow up work in Mauritania/Guinea well into 2010.

Kalahari has agreed to sell the entire share capital of WestAfrica Gold Exploration and Crafton Diamonds to North River Resources for a total of approximately 266m shares in North River, equating to around £16.67m.

Kalahari Minerals PLC (AIM: KAH) said Extract Resources Ltd (TSX, ASX: EXT) is likely to have discovered a third highly priospective zone of mineralisation at Rossing South in Namibia.

Transcript of recent audio interview with Mark Reilly, MD of ASX and AIM listed uranium junior, Forte Energy

Kalahari Minerals PLC (AIM: KAH) said 40 percent controlled Extract Resources Ltd (TSX, ASX: EXT) reported a maiden resource for Zone 2 of the the Rossing South uranium deposit at the Husab project in Namibia, with the timing ahead of schedule and the resource above market expectations.