Kalahari is one of the only mining stocks to have withstood the complete decimation of the sector this year. To still be standing barely 20% off it's high in April and flat for the year is a testament to their development and asset base - is Kalahari shaping up to be a big performer in 2009? Rio Tinto certainly seems to think so...
Kalahari were planning on merging with Extract resources who own the Rossing South prospect that lies next to Rio's huge Rossing uranium project... but Rio have scuppered it by taking 10-15% stakes in both companies immediately after the merger was announced. Shareholders disapproved the merger over concerns Rio may have too much influence over the combined group.
But KAH still own 40% of Extract, and it looks as if this could be a world class Uranium mine... It's pretty rare these days to see a miner outperforming the market as a whole, and that makes me perk up and investigate...
Any comments would be much appreciated.
