Kalahari Minerals plunges on bid withdrawal fears
Shares in uranium explorer Kalahari Minerals plummeted 24.75p more to 209.25p yesterday.
The drop was caused by growing fears that the effect of Japan's nuclear crisis will lead to China's CGNPC Uranium Resources withdrawing its 290p a share offer for Kalahari.
A potential follow-on downstream offer for Extract Resources, which is 54% owned by Kalahari would also be scuppered.
Broker Singer Capital Markets says the likelihood of the deal proceeding at 290p looks to be diminishing.
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