tickets please, page-20

From what I understand, Genorah owns 26% of Garatau directly and about 60% of NKP. The investor could buy say upto 50% of NKP, part of that would be Genorah's stake (they certainly need the cash and would still have a 26% interest to satisfy BEE), some through an on-market purchase or maybe even a placement.

At say 35c they could buy 50% for a little over $100m, which is a bargain. They then would arrange debt for development.