Kalahari Minerals plc, the AIM listed resource company, announces its interim results for the six month period ended 30 June 2011.

Overview
  • Key value driver is Kalahari’s 42.74% interest in Extract Resources Limited (‘Extract’), which is developing the world-class and globally strategic Husab Uranium Project (‘Husab’) towards production
  • Definitive Feasibility Study on Zones 1 & 2 of Husab (‘DFS’) demonstrates economic viability and capability of producing 15Mlb of U3O8 per annum, via conventional open pit mining
  • Mine Optimisation and Resources Extension (‘M.O.R.E.’) programme at Husab progressing well – objective to increase the current 20 year mine life and to investigate opportunities to generate additional value to enhance operating and financial performance 
  • Publication in June 2011 of a 33% increase in the total Resource figure to in excess of 500 M.lbs U3O8 and a maiden Measured Resource at Zones 1 & 2 of 84 M.lbs U3O8
  • Reserve update at Husab showed 37% and 42% respective increase in reserve and contained uranium, 4% rise in grade and 18% improvement in strip ratio for Zones 1 & 2
  • Maiden declaration of Proven Reserves of 78.7 M.lbs U3O8 – equivalent to four years of full production
  • Considerable potential to increase current resource inventory through additional exploration on new zones of mineralisation including Zones 3, 4 & 5 of Husab, Middle Dome, Pizzaro and Salem
  • Mining licence expected to be granted over Husab in coming months ahead of development of the Husab mine – expected lead time of 33 months from project approval to hot commissioning
  • Considerable international interest in Husab – nuclear industry likely to play a critical role in long-term global energy markets – large-scale strategic assets such as Husab are of paramount importance

Enquiries:

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