If think it was manjapra who first suggested a scrip takeover by Newco and it would make sense for it to achieve a critical mass in production and reserves by buying NKP. It could propel them into No.2 producer after Anglo.
Newco (Platmin) was delisted by Pallinghurst and they are looking to re-list on JSE in 2013 and I think it would make for a more attractive IPO if they had control of Garatau.
This is just speculation on my part but there’s no denying:
1. the link between AMED and Pallinghurst 2. Pallinghurst’s desire to become big in PGM 3. Genorah needs a partner with expertise and big enough to see this through and take on Anglo
NKP Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held