Extract Resources (ASX:EXT) explores, evaluates, develops and produces uranium as a source of fuel conversion for nuclear power.

The group was the subject of takeover speculation today after news reports suggested China Guangdong Nuclear Power is tabling an offer for Kalahari Minerals.

Kalahari is the majority shareholder of EXT, with an ownership stake of 43%.

Australian takeover law stipulates the Chinese company must make a full offer for EXT if it acquires Kalahari.

EXT has been one of the day’s hot stocks on the back of the rumours, and it is so far one of the best performers in the Australian share market.

Receive FREE Trading Recommendations for the next 7 Days, Click Here!

No related posts.