Kalahari Minerals PLC (KAH.LN), a mining and exploration firm, said Monday it is in talks with a third party, which may or may not lead to an offer being made for the entire issued share capital of the Company.

MAIN FACTS:

-Kalahari also said discussions with Extract Resources Ltd. (EXT.AU) remain ongoing and there is no certainty that the parties will reach any agreement.

-On Feb. 21, Company announced it was holding discussions with Extract Resources, in which Kalahari holds a 43% interest, to explore various different options that might simplify the Extract/ Kalahari shareholding structure to facilitate a combination of Extract's Husab Uranium Project with the neighbouring Rossing Uranium Mine owned by Rio Tinto PLC (RIO).

-Kalahari shares at 1030 GMT up 48 pence, or 19%, at 309 pence valuing the company at GBP756.52 million.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
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