Chinese bet on Extract's uranium

An expected $2.2 billion bid for uranium explorer take out Resources by a Chinese state owned nuclear power company is being labelled as the boldest show of hold for the sector since the Japanese nuclear disaster in March.

The takeover speculation was spark after Guangdong Nuclear Power reopened talks with Extract's biggest shareholder, which hold nearly 43 per cent of the share register, according to a media statement in the UK over the weekend.

Australian-listed Extract's intended Husab uranium project in Namibia is the focus of Guandong's intentions it is a 15 million pound a year mine that take out says will be one of the world's three largest uranium mines take out placed its shares in a trade halt after it had climbed 82 cents, or 10.2 per cent, to $8.86 following an hour of trade

Uranium outlook goes bush with the Premier

The South Australia uranium explorer is still in shock behind the state government's decision last Friday to protect the Arkaroola area in the Flinders Ranges, home to the purple-spotted gudgeon, spidery wattle and yellow-footed rock wallaby.Can we adjoin endangered Premier? Mike Rann, visiting the area very last August, was spellbound by the "compelling beauty" and ordered the ground to be specified "unprecedented" protection.

Emerging from a trading halt yesterday, Marathon shares be smashed by 38 per cent. Chairman Peter Williams meets Resources Minister Tom Koutsantonis tomorrow intended for a robust exchange of views.

Arkaroola covers Marathon's flagship Mt Gee project, the country's fifth-biggest immature uranium mine. Marathon has spent $20 million on Mt Gee in capitalised expenses and $10m in written-off direct costs and is on the books at $15.7m. Williams may be concerned to ask the good minister why Marathon was invited to renew the lease in January (which it did) when moves to defend the area were in train