18th Dec 2008 07:00
Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration
18th December 2008
Kalahari Minerals plc ('Kalahari' or 'the Company')
Notice of Major Shareholdings by Emerging Metals Ltd
Kalahari Minerals plc, the AIM listed mining exploration group with a portfolio of copper, base metal and uranium interests in Namibia, was notified on 16th December that AIM listed Emerging Metals Ltd ('Emerging Metals') has increased its stake in Kalahari through the purchase of 6,250,000 new ordinary shares in the Company's recent fundraising, increasing its stake to 11,245,000 new Ordinary Shares, representing 6.28% of the Kalahari's total voting rights.
Kalahari Executive Chairman Mark Hohnen said, "At a time of market uncertainty, the recent fundraising was a clear indication of the level of investment interest that exists for Kalahari, both through new and existing shareholders. We welcome the current stake building by Emerging Metals, in particular the involvement of Non-Executive Co-Chairman Mr. Stephen Dattels, who has an excellent track record within the mining sector having founded and/or financed a number of ventures, with his most recent being Namibian uranium company UraMin Inc. which was sold in July 2007 to Areva, the French government-owned fully integrated uranium company for $2.5 billion."
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For further information please visit www.kalahari-minerals.com or contact: |
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Mark Hohnen |
Kalahari Minerals Plc |
Tel: +61 (0) 8 9389 4488 |
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Olly Cairns |
Blue Oar Securities Plc |
Tel: +61 (0) 86430 1631 |
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Romil Patel |
Blue Oar Securities Plc |
Tel: 020 7448 4400 |
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Richard Chase |
Ambrian Partners |
Tel: 020 7634 4700 |
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Victoria Thomas |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
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Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
About Kalahari
Kalahari Minerals Plc is an AIM listed mining and exploration group with a portfolio of copper and base metal prospects within western and eastern central Namibia. Two of the project areas, Dordabis and Witvlei, are prospective for sediment hosted copper mineralisation consistent with the world class Zambian Copper Belt. A third project, Ubib, is believed to be prospective for gold mineralisation and is nearby the operating Navachab gold mine.
The Company also has a 90% interest in the highly prospective Namib Lead Zinc Project centred on the old Namib Lead Mine, which was an underground operation from 1965 - 1992. Previous mine studies (non JORC compliant) indicate surface tails and underground mining reserves of 1.65 million tonnes at 5.7% zinc, 1.6% lead and 40.2 g/t silver. Kalahari aims to take the project to bankable feasibility study stage with a view to re-commencing mining operations in the short term.
Additionally, the Company holds a 39.05% interest in ASX listed Extract Resources Limited, which is focused on uranium exploration. Its key project is the Husab uranium project in Namibia where results from an ongoing drilling programme reinforce the Company's belief that the area has a strong potential to host an economic uranium deposit.
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