the scramble is on

The numbers presented seem to suggest that the project stacks up financially, especially vis a vis other PGM projects. The closure of marginal mines is only going to put upward pressure on the prices of PGMs and it also makes it even more apparent to parties looking to securing strategic supply that there aren't many robust PGM projects about.

With the potential from the UG2 development plus other farms, getting a foothold now seems the smart things to do - first with their hand up with the right deal (which I already think is essentially done imo) gets their hands on some prized assets (and these guys have deep deep pockets, happy to run a bit of risk on the legal side).

There are numerous groups that will be interested for one or other reasons:

1. Xstrata (better option than Lonmin any day of the week)
2. Anglo/ARM (if you can't beat then, join them!)
3. The Chinese - a voracious appetite for strategic raw materials
4. Indians - see Chinese
5. Russians - see Indians, Norlisk already a big sector player.
6. Other PGM industry participants.
7. IDC - not for me, if Nkwe still hasn't approached them.
8. Other - a rich individual -Gina?!

Pistol Pete reckons 2-4 weeks. I'll be holding.