CGNPC launches A$2.2bn Extract takeover

The China Guandong Nuclear Power Corporation (CGNPC) on Tuesday launched a A$2.2-billion takeover offer for ASX- and TSX-listed uranium developer Extract Resources. CGNPC, through its subsidiary Taurus Minerals, has made a $8.65 a share cash...

Extract in trading halt pending CGNPC offer

Uranium mine developer Extract Resources was granted a share trading halt on the ASX on Friday as the company awaited a downstream offer from China Guandong Nuclear Power Corporation (CGNPC) through its subsidiary Taurus Minerals. It was...

CGNPC inches closer to Kalahari takeover

China Guandong Nuclear Power Corporation (CGNPC) was moving incrementally closer to obtaining control of takeover target Kalahari Minerals as its February 2 deadline looms. At the end of last week, CGNPC had secured a 29.4% shareholding in...

Kalahari agrees to new, lower £632m China bid

London-listed Kalahari Minerals said on Thursday it agreed to an offer from China Guangdong Nuclear Power Corp (CGNPC) valuing it at £632-million, or $993-million. The £2.4355-a-share cash offer represented a 16.1% premium to the average...

Major business case building for manganese rail capacity, says Kriek

A huge business case is building up in favour of more rail capacity for the manganese miners in South Africa’s Kalahari manganese field, says United Manganese of the Kalahari (UMK) CEO Johan Kriek. Kriek - a veteran of the manganese-mining...

Extract shares halted amid takeover talk

ASX-listed Extract Resources went into a trading halt on Monday, amid speculation that it was the takeover target for China Guandong Nuclear Power Corporation (CGNPC). It was speculated that CGNPC was offering $2.2-billion for Extract.

Huge business case for better manganese logistics – UMK

A huge business case is building up in favour of more rail capacity for the manganese miners in South Africa’s Kalahari manganese field, says United Manganese of Kalahari (UMK) CEO Johan Kriek. A veteran of the manganese-mining business who...

Husab uranium deposit established as world’s fourth largest

An updated resource estimate for the Husab uranium project in Namibia established the deposit as the fourth largest in the world, with further exploration potential remaining and drilling continuing, said Extract Resources on Tuesday. The update,...

Kalahari moves to stay on good terms with China

Aim-quoted Kalahari Minerals is staying in China Guangdong Nuclear Power Corp’s (CGNPC’s) good books, deciding not to demand a £7,5-million break fee after the Chinese company abandoned a bid for the uranium junior. “We may, going...

China walks away from Kalahari - for now

China Guangdong Nuclear Power (CGNP) has abandoned its possible bid for uranium junior Kalahari Minerals after the UK Takeovers Panel disallowed a lower offer this week, but the State-owned firm retains the right to make a new one, the company...

UK regulator again thwarts lower Chinese bid for Kalahari

The UK’s Takeover Panel on Tuesday dismissed Kalahari Minerals and China Guondong Nuclear Power’s (CGNP’s) appeal against an earlier decision to block the Chinese State-owned company from making a lower bid for the uranium junior. The...

Bannerman joins Namibian peers in the red

Monday was Bannerman’s turn to suffer the nationalisation jitters that have hit mining companies with exposure to Namibia over the past week. The TSX-listed uranium junior slipped nearly 9% to trade at $0,32 a share by midday.