The definitive feasibility study (DFS) for the Husab uranium project was published by Australia's Extract Resources on April 5th. It sets out a "base case mine plan" for an open-pit mining operation and conventional acid leach processing plant producing 15m lb (6,800 tonnes) of uranium oxide per year at an estimated capital cost of just under US$1.7bn (April 2011, Economic performance). Ore would be extracted from two open pits with an initial 16-year mine life; the DFS posits a mineral reserve of 205m tonnes of ore with an average grade of 0.05%, equivalent to 225m lb (102,000 tonnes) of contained uranium. Extract appears to be confident of raising the required funding for a stand-alone development through a mix of equity and debt. However, it is also continuing negotiations with Rio Tinto over a possible joint development strategy for Husab and Rössing, which would presumably reduce Extract's own funding requirements.

According to the chairman of Extract, Steve Galloway, a Namibian national, the company wants to raise as much funding as possible from banks and other financial institutions in Namibia. Mine commissioning is planned for early 2014, assuming a 33-month construction period from the decision to proceed, which is expected as soon as the government grants a mining licence. The share price of both Extract and London-listed Kalahari Minerals, which owns a 43% equity interest, fell after an earthquake in mid-March damaged Japan's Fukushima nuclear plant, but China Guangdong Nuclear Power Company (CGNPC) is still expected to make a formal offer of £2.90 (US$4.64) per share for Kalahari in early May (April 2011, Economic performance).