Proactive Investors reported that Kalahari Minerals PLC the exploration and evaluation group with a portfolio of uranium, copper and base metal interests in Namibia, narrowed its pretax loss in the H1 to June 30 2009 to EUR 3.48 million from EUR 10.35 million per year earlier.
As per report, Kalahari has 40% stake in Extract Resources Limited which controls the Husab project in Namibia and its Rossing South uranium deposit. It said in the results statement that the highlight of the period was confirmation from Extract Resources Limited that Rossing South is the largest uranium discovery made in recent decades.
Mr Mark Hohnen chairman of Kalahari said that “With an exciting portfolio of additional copper, gold and other base metal assets which we are actively looking to develop further and ascribe increased value to over the short to medium term, I am confident that Kalahari has a very bright future.”
The company said that ongoing drilling is expected to define a much larger resource with 9 kilometers of the prospective 15 kilometers Rossing South trend still to be explored. Current drilling is focused on exploring mineralization south of Zone 2 referred to as the newly emerging Zone 3 and is yielding exceptional results. A drilling program is also underway at the Salem prospect, which is 10 kilometers south of Zone 2 and which is also demonstrating highly encouraging intersections.
(Sourced from www.proactiveinvestors.com)
