Kalahari Minerals (AIM: KAH) announced that Extract Resources (ASX, TSX: EXT), in which it holds a 40.44 percent stake, has appointed Jonathan Leslie as chief executive officer.
Extract is developing the world-class Husab uranium project in Namibia. It owns and operates the Rossing South uranium deposit at Husab, where the resource currently stands at 292 Mlb (million pounds) graded 439 parts per million triuranium octoxide (U3O8) of which 267 Mlb at a grade of 487 ppm are in Zones 1 and 2.
Kalahari chairman Mark Hohnen said, "This is a fantastic appointment for Extract, and is, in Kalahari's opinion, a significant step change for the company - one which we endorse robustly. Jonathan has an exceptional level of experience in the uranium sector, particularly in marketing and management, stemming from his role as managing director of Rossing Uranium, Rio Tinto's (LSE, ASX: RIO) subsidiary which operates the producing Rossing mine, from 1991 to 1994.”
“This high profile position, which saw him responsible for overall marketing of all uranium from the world's largest uranium mine, established Jonathan as an international expert in the uranium industry and a well-respected figure in Namibia, with outstanding relationships with the Namibian government and mining agencies,” he added.
Kalahari Minerals is a resource company with uranium, gold and base metal interests in Namibia, and the Extract stake is its key investment.
The Husab uranium project, strategically located directly south of Rio Tinto's producing Rossing mine. Work is focusing on three main prospects within the project area, Rossing
South, Ida Dome and Hildenhof, and results continue to underpin the prospectivity of the region, particularly following the world class Rossing South discovery.
The two zones at Rossing South are both open ended at depth and along strike. Kalahari believes Extract has the ground and potential to deliver on Kalahari's estimates of a resource in the region of 500 M lbs U3O8.
Kalahari's other key investment is its circa 44.9% holding in North River Resources PLC (AIM: NRRP, an emerging southern Africa focused multi commodity resource development company.
http://www.proactiveinvestors.co.uk/companies/news/13866/kalahari-minerals-affiliate-extract-resources-names-ex-rio-tinto-man-jonathan-leslie-ceo-13866.html
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