The Australian developer of one of the world's biggest uranium assets, Extract Resources, says it is still seeking alternative options after China inched closer to making a take-over offer.

State-owned China Guangdong Nuclear Power Group (CGNPC) subsidiary Taurus Minerals announced on Friday that it had secured 89.5 per cent of the stock in Extract's biggest shareholder, London Stock Exchange-listed Kalahari Minerals.

Extract said it would make a recommendation to shareholders once Taurus made an offer.

"In the meantime, shareholders are advised to take no action and await further guidance from the Extract independent directors, who are continuing to actively investigate whether there are any available alternatives that could maximise value for Extract shareholders," the company said in a statement on Monday.

The Australian Securities and Investments Commission (ASIC) has ruled that Taurus has to launch a take-over bid for Extract under Australian law if it acquires 50 per cent of Kalahari, which has a 42.74 per cent stake in Extract.

China is pursuing Australian-listed Extract because of its rights to the Husab uranium deposits in Namibia, the fourth-largest uranium-only deposit in the world.

Taurus must lodge a bidder's statement including an all-cash $A8.65 per share $2.1 billion take-over offer for Extract by March 1.

Rio Tinto, Extract's second largest shareholder with a 14.2 per cent stake, operates the neighbouring Rossing uranium mine and has previously discussed a joint development with the Australian entity.

Shares in Extract were up two cents to $8.59 at 1145 AEDT on Monday when they began trading again after being placed in a trading halt on Friday.