Commitment, page-28

Bilbo and Macleod good evening,


Bilbo says, "Its OK for Macca to send a letter...Its Macca and NKP...".

Now with what I am about to say, I trust no one can retort that I am mis-interpreting Macleod's intent in effectively nominating a starting point of 25 cents or above (in his mind).

Considering the regard I have for so many here, I was aghast to read this howler!
*

In the forthcoming negotiations, we DID NOT NEED to show our hand, or even RISK CONVEYING the notion that we were.

After soooooooo long, we can wait on the Chinese to do that, and after giving due consideration, go back to them and counter, or simply turn it down and build our own pressure from there.

Yes Bilbo we all have our original relationship with NKP, as you say it's "Macca and NKP..." , now how about "lilac and NKP" also start corresponding ON BEHALF of the united entity.

With respect, this letter we have become aware of after it was sent (presumably), speaks for all of us...without consultation.

While one can see clearly Macleod's intentions are to serve our common cause, I fear this may now have become the very first chink of unprofessionalism Zijin's legal representatives will be seeking.
*

In my opinion is was unwise, but even more than unwise, it was UNNECESSARY to be the first party to ALLUDE to a negotiating price point, BECAUSE if they can avoid the requirement for an independant evaluation in the mean time THEY WILL, and what they will be viewing this move today as is a potential sign of weakness, over-eagerness, and fragmentation - all promising chinks to exploit further.
*

NKWE's legals will assuredly be doing their homework on us in order to break our resolve.

Please do not under-estimate the 'mongrel' in the legal fraternity; in all likelihood a third party will have noted the transcript of Mac's email here on HC around the time it was received by the company.

Let them read our varied "acceptances" here in this forum if they wish, they don't count for much where Zijin are concerned, however when you start formalising your demands in writing, and THAT's what putting a figure, ANY figure in writing to the Company at this point does....you have NO idea how this may have begun to frame and impact what is to come!
*

My points have not been about Mac's decision to "nominate" a starting point on our behalf per se; if you think they were please re-read! Nor does it matter if Mac feels mis-interpretted by some of our colleagues, it doesn't Mac I'm afraid. Our power is in The GROUP’s power!

Our power is in The GROUP’s power!

Some of the group feel it was an error of judgement which we cannot afford to have made on our behalf as a group whose strength is in remaining CALM, POSITIVE and UNITED behind our asset and trusting the one who has effectively become the negotiating voice of The Group!

You see it means ZILCH that we are, in corporate terminology, a "minority"group.

Acting on behalf of NKP the company, (let's remember we are NKP shareholders; Zijin want our NKP shareholding), will be lawyers who could conceivably be paid for out of OUR funds - NOT to tell us we are a MAJOR Group, but that we are simply a group of minors, insignificant and at risk of isolation, fracture and disagreement.....and LOSING OUT on some deal!
*

WHAT bloody deal? Damn it.... I haven't come to you with a deal. Frankly, you my NKWE newcomers, (ie. I don't recall you on the scene back in 2005), know that I have something you want.

Since negotiators wore nappies, common sense says leave it to the NEEDY to approach the NEEDED!

Our shares are needed to realise this magnificent resource....can we please play it cool from here on in.

... that's us ladies n fellas
*

As minor shareholders, I ask you to see ourselves as members of a MAJOR Group.

Because by standing up for our rights, whether or not they count for much under Bermudan law, we are shareholders in an Australian listed company, and WE KNOW WHAT is RIGHT!

So while NKWE's legal rep's know this too, it won't frame their approach, for with all due respect they are tasked with achieving a result that is less favourable to us, and probably to achieve it promptly.
*

But it IS up to NKWE to come to us and establish dialogue (or risk an EGM), through our agreed leader/spokesperson!

A person who has communicated well with us and with considerable energy, and who we should expect to begin consulting with us in more specific detail now that we are entering this next phase.

This is a rare and golden opportunity to recoup some recompense from a business venture that we now won't see to fruition as shareholders as we hoped, but which we believe we are entitled to as it is about to reap rich reward to larger financial (but NOT larger STRATEGIC) interests than ours...who NEED us to agree to sell our remaining shares to them to achieve this; on their preferred grounds - (100% ownership).
*

This is too important to us all for me to be silent for fear of offending anyone; nevertheless should I be doing so, I would ordinarily wish not to.

Regards,

L